Huaya Intelligent IPO Postponement Voting Survey: Waiting For Two Years Or Disfigurement Due To Trust

The registration system of GEM has made rapid progress. When the IPO approval rate is at a high level recently, Huaya intelligent was suspended from voting in the latest issuance and examination meeting of the CSRC.

On the evening of August 13, the CSRC website announced the audit results of the 120th meeting in 2020. Suzhou Huaya Intelligent Technology Co., Ltd. (hereinafter referred to as "Huaya intelligent") suspended the voting, Shenzhen Weimeisi new energy Co., Ltd. failed to pass the approval, and Jiangsu Xiehe Electronic Co., Ltd. and Jiangsu boqian New Material Co., Ltd. Zuming bean products Co., Ltd. were the first It was approved.

Founded on December 21, 1998, Huaya intelligent is an enterprise engaged in manufacturing precision metal components applied in semiconductor equipment, new energy, rail transit, medical equipment and other fields.

On June 29, 2018, Huaya intelligent first disclosed the prospectus, disclosed its feedback on December 7, 2018, and updated the pre disclosure on December 18, 2018.

According to the prospectus, Huaya intelligent plans to issue no more than 20 million shares and plans to raise 350 million yuan, which will be used for the expansion project of precision metal structural parts and the intelligent R & D center project of precision metal manufacturing services. The company's IPO sponsor is Soochow securities.

The voting of Huaya intelligent IPO application has been suspended, indicating that the company may have undisclosed information which affects the judgment of the issuance and examination committee. According to a source, Huaya intelligent IPO application has been suspended or due to its undisclosed supplier relationship issues. In this regard, the 21st century economic report reporter on August 17 confirmed to Huaya intelligent that "it is now in the silent period after the declaration, so it is inconvenient to provide it to the public. For details, please see the documents to be publicly disclosed in the future.".

However, by integrating the company's prospectus and public information, it can be found that Huaya intelligent does have some trust problems.

The prospectus emphasizes the concept of semiconductor

The concept of semiconductor in the capital market is hot, and there are also some "hot spots" behaviors of related listed companies.

21st century economic reporter noted that as early as 2018, when it first disclosed its prospectus, Huaya intelligent focused on its "semiconductor equipment business as the development core".

In the "business overview" section of the first edition of the prospectus in June 2018, Huaya intelligent said, "the company's main business is precision metal manufacturing services in professional fields. The company focuses on providing customized precision metal manufacturing services of "small batch, multi variety, complex process and high precision" to leading high-end equipment manufacturers at home and abroad, including manufacturing process research and development, customized design and development, intelligent production and testing, special equipment maintenance and assembly, etc.

With semiconductor equipment business as the development core, the company is committed to becoming a leading domestic comprehensive supporting service provider integrating precision metal structure manufacturing, equipment assembly and maintenance services. At present, the company's business scope covers semiconductor equipment, new energy and power equipment, general equipment, rail transit, medical equipment and other fields

According to the prospectus, during the reporting period, the main business income of the issuer was RMB 241.5218 million, RMB 234.1842 million and RMB 294.1012 million respectively, of which the income of semiconductor equipment, new energy and power equipment, general equipment and medical equipment continued to grow, while that of rail transit continued to decline.

In the feedback, the CSRC asked Huaya intelligent to explain whether the statement that "the company takes semiconductor equipment business as the development core" in the prospectus of the issuer is accurate and reasonable when the revenue in rail transit field was much higher than that in semiconductor equipment field in 2015 and 2016.

The reporter noted that in the pre disclosure update of the prospectus in December 2018, Huaya intelligent maintained the original statement that "the company takes the semiconductor equipment business as the development core", and added the statement that the company has established an automatic assembly business unit, and has become a global partner of German manzag group, a market leader in the field of chemical wet process and a solution provider for touch panel production process Be a partner. In the future, the company will continue to increase investment in automation assembly business, and promote the company's transformation from a precision metal manufacturing service provider to a comprehensive supporting service provider with integrated capabilities.

Defects in disclosure of related transactions

Comparing the pre disclosure version and the updated version of the prospectus (hereinafter referred to as the "new version of the prospectus"), the reporter of the 21st century economic report found that the new version of the Prospectus has 80 pages more than the old version, including about 40 pages of management discussion and 30 pages of business and technology. Business and technology mainly include information about five major customers, major suppliers and environmental protection.

In the feedback opinions in December 2018, the SFC paid special attention to the situation of suppliers.

According to the prospectus, the main raw materials purchased by the issuer are metal raw materials, spare parts, packaging materials, hardware, etc., and there are outsourcing processing during the reporting period.

The CSRC requires the issuers to disclose the top five suppliers of metal raw materials, spare parts, packaging materials and hardware, as well as the basic information, cooperation history, procurement methods, procurement contents and settlement methods of major suppliers. It requires the issuer to state whether the supplier and its related parties have related relationship or competitive relationship with the issuer, and other interest arrangements.

It is worth mentioning that the supplier information supplemented in the updated version of the pre disclosure of the prospectus is combined with the industrial and commercial information of relevant enterprises, which reveals the close relationship between the supplier, Suzhou Industrial Park, daofali Jinggong Technology Co., Ltd. (hereinafter referred to as "daofali Jinggong") and Huaya intelligent, while Huaya intelligent's prospectus does not disclose the related relationship.

According to the updated version of the pre disclosure of Huaya intelligent prospectus, from January to June 2018, dufari Seiko ranked the fifth largest supplier of spare parts with a purchase amount of RMB 1.064 million, accounting for 4.20%.

In addition, in 2017, the purchase amount of spare parts increased by 2, Part of the main reason for the increase of 55.73% was that the company increased the purchase amount of structural parts by 8.616 million yuan to parts suppliers Suzhou Shizong Machinery Manufacturing Co., Ltd., Suzhou sheng'anhong Electromechanical Equipment Co., Ltd., Suzhou Industrial Park daofali Precision Technology Co., Ltd. and Hengyu precision machinery processing plant in Huangdai Town, Xiangcheng District.

It can be seen that Huaya intelligent has a lot of purchase orders from daofali Seiko in 2017.

However, the 21st century economic reporter found through qixinbao's inquiry of industrial and commercial information that daofali precision industry was established on June 21, 2016, with a registered capital of only 1 million yuan, which was wholly owned by Xu Qing, a natural person.

Qixinbao shows that the latest mailbox of daofali Seiko is a 163 mailbox. However, according to the further analysis of industrial and commercial data, it is found that the e-mail address of daofali Seiko was HL @ huaya.net.cn when it was registered in 2016 and when its annual report was submitted for approval.

The e-mail address of Huaya intelligent's current business information and prospectus is also hyzn @ huaya.net.cn with the suffix of huaya.net.cn.

In addition, according to the industrial and commercial information of enterprises included in qixinbao, there was also an enterprise named Huaya Technology Co., Ltd. (hereinafter referred to as "Huaya technology") in Suzhou Industrial Park. Its registration was established in 2003 and has been cancelled. According to the annual report update records left by the industrial and commercial information, the cancellation time is after 2016.

According to the industrial and commercial information, the legal representative and actual controller of Huaya technology is Wang Cainan, the actual controller of Huaya intelligent. Wang Cainan directly holds 70% of the shares of Huaya technology, while the other 30% of the equity is held by Han Xupeng, a natural person. Han Xupeng is also the chairman of the board of supervisors of Huaya intelligent.

Huaya intelligent's prospectus mentions Huaya technology as "Suzhou Industrial Park Huaya Technology Co., Ltd., which has been cancelled and is a former related party of the issuer".

Coincidentally, according to the industrial and commercial information, the latest e-mail address of Huaya technology before its cancellation is the same as the contact email address in the industrial and commercial information of Dow fari Seiko before 2017, both of which are HL @ huaya.net.cn.

On August 17, the 21st century economic reporter called the telephone number left in the industrial and commercial information of daofali Seiko to learn about the enterprise's predecessor and related relations. All the operators said that they were "not clear".

In addition, Huaya intelligent has many affiliated companies.

Both of them are the first-class shareholders of tecona and the second-class holding companies of Suzhou. As the actual shareholders of the two companies, the two companies are the effective shareholders. There are 56 other major enterprises controlled, jointly controlled or exerted significant influence by the company's directors, supervisors, senior managers and their close adult family members, including naitrair, Baopin wood industry, pujun precision and guanruifeng. During the reporting period, there were 15 related parties, including Longda Huiyuan.

The prospectus of Suzhou Kangdi Medical Co., Ltd. (hereinafter referred to as "Suzhou Kangdi Medical Technology Co., Ltd") is a wholly-owned subsidiary of Suzhou Healthcare Technology Co., Ltd.

The company was established on June 17, 2013. In August 2016, Huaya intelligent acquired 100% equity of Suzhou madikang. Before the restructuring, Wang Chunyu held 80% shares and Han Xupeng held 20%.

The 21st century economic report reporter inquired about qixinbao and found that the current contact email of Suzhou madikang is hyzn @ huaya.net.cn, which is the same as that of Huaya intelligent prospectus disclosure. However, according to the 2015 annual report published by Suzhou Metro in February 2016, its registered email address at that time was HL @ huaya.net.cn.

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