Fulda's Growth IPO has been "terminated (withdrawn)", providing well-known domestic and foreign car companies with products such as automotive intelligent optoelectronic systems.

福尔达创业板IPO“终止(撤回)”。

智通财经APP获悉，6月30日，宁波福尔达智能科技股份有限公司(简称：福尔达)深交所创业板IPO审核状态变更为“终止(撤回)”。因福尔达、保荐人撤回发行上市申请，根据《深圳证券交易所股票发行上市审核规则(2024年修订)》第六十二条，深交所决定终止对其发行上市审核。

招股书显示，福尔达已成为一家集设计、研发、制造于一体的汽车零部件综合制造服务供应商，主要为国内外知名整车制造企业提供汽车智能光电系统以及汽车座舱功能件等产品。

公司全部业务集中在汽车零部件前装市场，采用直销的方式直接将产品销售给整车制造企业或根据整车制造企业要求通过其他一级供应商间接供货，主要客户包括一汽丰田、广汽丰田、一汽-大众、上汽大众、一汽集团、上汽集团、广汽乘用车等。公司供应产品的主要原材料为电子元器件、塑料件、表面处理件、PCBA板、塑料粒子、金属件等，主要供应商包括赛斯、隽益、大连日佳电子有限公司、深圳市航盛电子股份有限公司等。公司的产品主要为定制汽车零部件产品，生产过程一般采用“以销定产”的模式按计划进行生产备货。

凭借在技术研发、产品设计、质量、成本控制等方面的优势，公司已成为大众、奥迪、丰田、奔驰、捷豹路虎、沃尔沃、红旗、东风、传祺、长城、江淮等国内外知名汽车品牌的供应商。随着新能源汽车的兴起，公司业务已拓展到新能源汽车领域，成为T品牌以及蔚来、小鹏、理想、广汽埃安等新能源汽车品牌的一级供应商。

公司的主要产品中，出风口、空调控制面板、顶灯等产品已经积累了相当的市场规模，成为公司的优势产品。据测算，报告期内公司的出风口总成、空调控制面板、顶灯在全球汽车市场中的平均占有率分别约为4.5%、3.6%、2.5%，而在国内的市场占有率分别约为14.4%、11.5%、7.9%，形成了一定的市场竞争地位。

财务方面，于2020年度、2021年度、2022年度，福尔达实现营业收入分别约为22.40亿元、24.36亿元、30.48亿元人民币；同期，该公司实现净利润分别约为1.44亿元、1.89亿元、2.01亿元。

值得注意的是，福尔达在招股书中提到，公司存在下游汽车行业波动的风险。其表示，公司主要产品分为智能光电系统产品和座舱功能件产品两大系列，公司的业务发展与下游汽车行业密切相关。

2018年至2020年，随着汽车市场竞争压力加剧，同时受宏观经济增速放缓、车辆购置税优惠政策变动等因素的影响，国内汽车产量近三十年来首次出现下滑，2018年至2020年我国汽车产量同比分别下滑4.16%、7.51%和1.93%，2021年同比上升3.40%，2022年同比上升3.40%。

若未来国内汽车行业未能持续扭转下滑趋势，可能导致下游市场对于公司产品的需求下降和行业竞争进一步加剧，从而对公司的经营业绩产生不利影响。

Forda's startup board IPO was 'terminated (withdrawn)'.

Zhixin Finance APP learned that on June 30, Ningbo Forda Intelligent Technology Co., Ltd. (Ford) has changed the audit status of the ChiNext board IPO of the Shenzhen Stock Exchange to 'Terminated (Withdrawn)'. According to Article 62 of the 'Stock Issuance and Listing Review Rules of the Shenzhen Stock Exchange (Revised in 2024)', the Shenzhen Stock Exchange decided to terminate the listing review for its issuance.

According to the prospectus, Forda has become a comprehensive manufacturing service provider for automotive parts integrating design, research and development, and manufacturing, mainly providing automotive intelligent opto-electronic systems and automotive cockpit functional parts to well-known domestic and foreign vehicle manufacturing enterprises.

The company's entire business is focused on the front-loading market for automotive parts, and products are sold directly to vehicle manufacturers through direct sales or indirectly through other first-tier suppliers as required by vehicle manufacturers. Its main customers include FAW Toyota, GAC Toyota, FAW-Volkswagen, SAIC Volkswagen, FAW Group, SAIC Group, and GAC Passenger Cars, among others. The main raw materials for the company's supply products are electronic components, plastic parts, surface treatment parts, PCBA boards, plastic particles, metal parts, among others, and its main suppliers include Sais, Junyi, Dalian Richia Electronics Co., Ltd., Shenzhen Hangsheng Electronics Co., Ltd. and others. The company's products are mainly customized automotive parts, and the production process generally adopts the 'production according to sales' mode to produce and prepare goods according to plan.

With its advantages in technology research and development, product design, quality, and cost control, the company has become a supplier of well-known domestic and foreign automotive brands such as Volkswagen, Audi, Toyota, Mercedes-Benz, Jaguar Land Rover, Volvo, Hongqi, Dongfeng, GAC Group, Great Wall, and Jianghuai. With the rise of new energy vehicles, the company's business has expanded to the field of new energy vehicles, becoming a first-tier supplier of T-brand and new energy vehicle brands such as Nio, Xiaopeng, Ideals and GAC Aion.

Among the company's main products, air outlets, air conditioning control panels, roof lights and other products have accumulated considerable market size, becoming the company's advantage products. According to estimates, the company's air outlet assembly, air conditioning control panel, roof light's average global market share during the reporting period are approximately 4.5%, 3.6%, and 2.5%, and its domestic market share is approximately 14.4%, 11.5%, and 7.9% respectively, forming a certain market competitive position.

In terms of finance, in 2020, 2021, and 2022, Forda achieved operating income of approximately 2.24 billion yuan, 2.436 billion yuan, and 3.048 billion yuan, respectively; during the same period, the company achieved net income of approximately 144 million yuan, 189 million yuan, and 201 million yuan respectively.

It is worth noting that Forda mentioned in the prospectus that the company faces risks caused by fluctuations in the downstream automotive industry. It said that the company's main products are divided into two major series: intelligent opto-electronic system products and cockpit functional parts products, and the development of the company's business is closely related to the downstream automotive industry.

From 2018 to 2020, with the intensification of competition in the automobile market and the impact of factors such as the slowdown in macroeconomic growth and changes in vehicle purchase tax preferences, China's automobile production has experienced the first decline in nearly 30 years, with a year-on-year decline of 4.16%, 7.51% and 1.93% respectively in 2018 to 2020, a year-on-year increase of 3.40% in 2021 and a year-on-year increase of 3.40% in 2022.

If the future domestic automobile industry fails to sustain a turnaround in the downward trend, it may lead to a further decline in demand for the company's products and intensified industry competition, thereby adversely affecting the company's operating performance.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

福尔达创业板IPO“终止(撤回)” 为国内外知名车企提供汽车智能光电系统等产品

Fulda's Growth IPO has been "terminated (withdrawn)", providing well-known domestic and foreign car companies with products such as automotive intelligent optoelectronic systems.

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