Another 30 Strong Chinese Printing And Dyeing IPO! Smashing 6.4 Billion To Build High-Grade Fabrics Intelligent Green Printing And Dyeing Project

The Zhejiang Ying Feng Polytron Technologies Inc, located in Shaoxing, Zhejiang (hereinafter referred to as "Ying Feng Technology"), was established in 2008. In 2016, joint-stock reform was carried out in 2016. In December 26, 2019, Ying Feng technology disclosed the prospectus on the website of the securities and Futures Commission, which is going to be listed on the Shanghai Stock Exchange's main board. The IPO public offering does not exceed 80 million shares, raising 400 million yuan of funds to be invested in the high quality fabric of 131 million meters. The development of the green printing and dyeing project is closely related to the main business of the company, which is the consolidation and upgrading of the main business of the company.

The prospectus shows:

1, 131 million meters high grade fabric intelligent green printing and dyeing project construction includes three parts, one is the annual production of 11 thousand and 900 tons of knitted fabric dyeing and printing project, two is the annual 35 million mm woven fabric pad dyeing project, three is the annual production of 40 million meters woven fabric and 10 thousand and 100 tons of knitted fabric printing project.

After the project is put into operation, the annual production of 35 million meters of woven fabric dyeing and dyeing, the annual output of 40 million meters of woven fabrics and 10 thousand and 100 tons of knitted fabric printing project will make full use of the company's high brand awareness and rich dyeing and finishing experience in the printing and dyeing industry, expand its business scope to the textile pad dyeing and printing industry, enrich the company's product categories, improve its business structure and enhance its overall competitiveness. 。

After the project is fully released, it is estimated that the new business income will be 594 million 580 thousand yuan, the annual net profit is 68 million 515 thousand and 800 yuan, the financial internal rate of return is 12.36% (after income tax), and the investment recovery period is 6.3 years (excluding construction period).

2, innovative R & D center construction projects.

The total investment of the innovative R & D center is 50 million yuan. We plan to build R & D buildings, laboratories and supporting facilities, acquire advanced R & D equipment and instruments at home and abroad, and create a modern R & D testing center.

The project will enhance the integration ability of Ying Feng Technology to high quality R & D resources, improve the technology innovation level and new product development capability, provide a more perfect R & D environment for the development of new technology and new products, promote the quality and performance of the company, and enhance the competitiveness of the company's existing products. Ying Feng technology will improve R & D system on the basis of existing R & D resources, increase the purchase of equipment and introduce talents, build new R & D platform, establish and improve the R & D management system and process, enhance the standardized management of R & D center, and provide better technical guidance for product production process.

According to the financial report, in the year 2016, 2017 and 2018, the total operating income of Ying Feng technology was 682 million 823 thousand and 100 yuan, 901 million 7 thousand and 100 yuan and 986 million 582 thousand and 400 yuan respectively, with net profit of 131 million 109 thousand and 100 yuan, 113 million 460 thousand and 300 yuan and 138 million 285 thousand and 700 yuan respectively.

Ying Fung technology has a relatively high income in printing and dyeing of knitted fabrics, and the income in 2016, 2017, 2018 and 1-6 in 2019 is 76.39%, 64.90%, 65.69% and 51.83% respectively. With the new production line of main weaving and dyeing fabrics being put into production at the end of 2016, the proportion of printing and dyeing business income of woven fabrics increased from 23.61% in 2016 to 34.31% in 2018, and the product structure of the company was more balanced. In 2019 1-6, the proportion of woven fabric printing and dyeing business increased to 48.17%.

At the end of 2016, the end of 2017, the end of 2018 and the end of 2019, the total assets of Ying Feng technology were 784 million 845 thousand and 200 yuan, 851 million 509 thousand and 300 yuan, 955 million 9 thousand and 600 yuan and 953 million 551 thousand yuan respectively. At the end of 2018 and the end of 2017 years, the total assets increased by 103 million 500 thousand and 300 yuan and 2017 yuan respectively, up from last year, respectively. Closing operating assets increased. At the end of 2018, non current assets increased more than the end of 2017.

According to the prospectus, Ying Feng Technology specializes in textile dyeing and finishing business. It is committed to providing professional, integrated and personalized printing and dyeing services for customers. It mainly includes two series: knitted fabric dyeing and woven fabric printing and dyeing.

Ying Feng technology has 180 million M / year woven fabric and 80 million kg / year knitted fabric dyeing and processing capacity, accounting for about 0.86% of printing and dyeing enterprises in 2018. The company's customers are mainly distributed in Zhejiang, Fujian, Jiangsu, Shanghai, Guangdong and other places. Zhejiang is the most important sales area. The sales volume of each year is more than 70% during the reporting period. In 2019, it was selected by the China printing and dyeing industry association to publish the top 30 list of Chinese dyeing and printing enterprises.