据了解，佳驰科技募集资金扣除发行费用后拟用于以下列项目：On November 25, Jiachi Technology (688708.SH) began accepting subscriptions.
According to Zhitong Finance APP, on November 25, Jiachi Technology (688708.SH) started its subscription, with an issuance price of 27.08 yuan per share, a subscription limit of 0.0075 million shares, a pe of 20.72 times, belonging to the Shanghai Stock Exchange, and huaxi as its exclusive underwriter.
The prospectus reveals that Jiachi Technology is a leading provider of electromagnetic functional materials and structures (referred to as EMMS) in China, dedicated to leading and promoting the development of EMMS technology in the country and contributing to the nation's defense security and the electronic information industry. The company's EMMS products are primarily military products, with the revenue share exceeding 97% in 2023, mainly used in stealth applications; while civilian products supplement this, mainly used in electromagnetic compatibility fields.
It is understood that Jiachi Technology plans to use the funds raised after deducting issuance expenses for the following projects:
In terms of finance, in the years 2021, 2022, and 2023, the company achieved revenue of approximately 0.53 billion yuan, 0.769 billion yuan, and 0.981 billion yuan respectively. The company's net income was approximately 0.167 billion yuan, 0.484 billion yuan, and 0.564 billion yuan.
It is important to note that the prospectus specifically reminds investors to pay attention to the risks of turnover and impairment due to the large balances of accounts receivable and notes receivable. The company operates in the jungonghangye, which generally features long project research and testing cycles, complex payment settlement procedures, and concentrated settlement quarters. At the end of each reporting period, the combined book balances of accounts receivable and notes receivable were approximately 0.355 billion yuan, 0.678 billion yuan, and 984 million yuan, accounting for 66.91%, 88.16%, and 100.34% of the revenue for each period respectively. Since 2021, the proportion of receivables to revenue has continued to increase, while the turnover speed has been decreasing. If downstream customers delay payment schedules or their payment capabilities change, the company will face risks related to receivables turnover and impairment.
