On January 5, Wuxi Shengjing Microelectronics Co., LTD. (hereinafter referred to as “Shengjing Micro”) launched the IPO. This time, Shengjing Micro intends to raise 803,627,100 yuan to invest in delayed module research and development and industrialization projects, research and development center construction projects and supplementary working capital.

According to reports, Shengjing Micro is an electronic device provider with high-performance, ultra-low power chip design capabilities, and its main products are electronic control modules in the field of industrial security. The products sold by the company include electronic control modules, initiation controllers, amplifiers, etc. During the reporting period, the company’s electronic control module is mainly used in the field of blasting, and the initiation controller is generally used together with the electronic control module, which is the key component of the electronic detonator initiation system; Amplifiers are mainly used in industrial control, new energy, automobiles, communications and consumer electronics and other fields.

Financial data show that in the reporting period (2020, 2021, 2022, the same below), Shengjing’s micro business income was 210.8120 million yuan, 355.5508 million yuan and 770,8074 million yuan, and net profit was 63.027,600 yuan, 86.799 million yuan and 181.1998 million yuan, respectively. The company’s income scale and profit level have increased year by year. During the reporting period, the gross profit margin of Shengjing Micro remained above 40%, and the net profit margin on sales and the weighted average return on equity remained at a high level.

With strong innovation ability, Shengjingwei has been rated as a national specialized and special new small giant enterprise, a specialized and special new small giant enterprise in Jiangsu Province (manufacturing class), and a high performance digital electronic detonator engineering technology research center in Jiangsu Province. Sheng Jingwei said that the company relies on the self-developed digital-analog hybrid chip, combined with the characteristics of different application scenarios for special module development, the formation of electronic control module products. Sheng Jingwei said that after years of research and development, the company has formed a number of core technologies such as high and low voltage ultra-low power chip design, master-secondary cascading network with extended Modbus bus communication, anti-impact and interference technology, and built a development platform with ultra-low power consumption, large-scale networking capability, anti-high impact and interference technology. It is reported that the technology platform can be applied to areas with high requirements for safety and reliability, such as civil blasting, geological exploration, oil exploitation, emergency management and disposal, new energy vehicle safety system and other fields. At present, ShengjingMicro mainly uses the platform to provide technical support for the development of products such as blasting special electronic control modules. And actively develop geological exploration, oil exploitation, emergency management and disposal, new energy vehicle safety system and other application fields of products.

In addition, Shengjing Micro said that the company also actively carried out the research and development of signal chain analog chips, forming a variety of amplifier products, which can be widely used in industrial control, new energy, automotive, communications and consumer electronics and other fields. In 2021 and 2022, the market share of the company’s electronic control module in the blasting field reached 39.02% and 40.41%, respectively, which is in the leading position in the industry. Among them, the electronic control module products have formed a competitive advantage in safety, reliability, impact and interference resistance, blasting efficiency and other aspects, which can be applied to the wide temperature environment of minus 40°C to 85°C, the underground small section of metal mine blasting under high overload impact and electromagnetic interference environment, large-scale throwing blasting with high reliability requirements, large-scale demolition blasting and other special fields. Relying on high safety, high reliability and excellent quality products, Shengjingwei has established long-term and stable cooperative relations with many well-known enterprises in the civil explosive industry such as Yahua Group, Huhua Shares, Haixia Chemical, Xi ‘an Qinghua, Yibin Power, Qianjin Civil explosive and so on, and has been widely recognized.

In terms of technology accumulation, as of the signing date of the prospectus, Shengjing Micro and its subsidiaries have a total of 75 patents, including 22 invention patents. Combined with patents and other non-patented technologies, Shengjing Micro has formed a number of core technologies such as high and low voltage ultra-low power chip design, master-slave cascading network with extended Modbus bus communication, and anti-impact and interference technology. Constitute a perfect independent research and development system.

After deducting the total amount of funds raised by the public offering of shares, Shengjing Micro intends to invest in delayed module research and development and industrialization projects, research and development center construction projects and supplementary working capital. Among them, the “Delayed module R&D and industrialization project” is mainly used to expand the business scale of electronic control module and initiation controller products in the field of blasting, and carry out product iteration and optimize product structure, so as to consolidate and enhance the market position in the field of blasting; At the same time, we will expand the application of core technologies in the field of oil exploitation and geological exploration, and further expand the market growth space.

Looking forward to the future development, Shengjingwei said that the company will do fine and deep in the field of communication control modules and related control network systems. On the one hand, based on long-term accumulation in the civil explosive industry, continue to develop more competitive electronic control modules and detonating controller product series, expand market share, and consolidate the company’s leading position in the blasting special electronic control module market; On the other hand, the core technology of communication control module and related control network system is actively explored and applied to geological exploration, oil exploitation, emergency management and disposal, new energy vehicle safety system and other fields. From a horizontal perspective, the company actively expands the product categories of analog chips, and gradually expands the product series in the field of precision data converters and precision power management chips based on the product series built in the amplifier subdivision circuit, so as to meet the needs of customers in different application fields and improve the competitiveness of the company in the field of analog chips.