June 30 this year, Aishiwei's IPO was accepted by the Shanghai Stock Exchange.". The company intends to raise 1.5 billion yuan to invest in the production of energy management system products such as intelligent photovoltaic inverters, the upgrade of Shanghai R & D center, the construction of global marketing network and the replenishment of liquidity.
According to its prospectus, the revenue of Aishiwei in 2020, 2021 and 2022 is 788 million yuan, 980 million yuan and 2.15 billion yuan respectively; Net profits were 21.873 million yuan, -4.16 million yuan and 1. From the above data, we can see that the performance of Aishiwei in the past three years has fluctuated greatly, but it has still been growing rapidly.
However, Digital New Energy DataBM. Com found that its net operating cash flow in the past three years from 2020 to 2022 was-6.4987 million yuan,-74.1291 million yuan and 5598 yuan, respectively.
Claim 2: The gross profit of the main products is low and the competitiveness is not strong
. The main products of Aishiwei include photovoltaic grid-connected inverters, energy storage inverters and intelligent charging piles. As the main product of Aishiwei, the gross profit rate of grid-connected inverter during the reporting period was 14.04%, 11.38% and 19.69%, respectively; The average gross profit rates of 8 comparable companies in the same industry, such as Sunshine Power Supply, were 37.40%, 33.25% and 33% respectively.
The R & D expenses during the reporting period were 30.408 million yuan, 40.6766 million yuan,
At present, only Gaojing Solar Energy has restarted its IPO guidance in two months after withdrawing its listing application. On November 28, Gaojing Solar Energy was registered with the Guangdong Securities Regulatory Bureau.
and Aishiwei inverter manufacturer, has been listed since 2017. But it took four years to finally choose to abandon the A-share market.
Until March 2023, Guruiwatt chose to go to Hong Kong for listing, submitted the form to the Hong Kong Stock Exchange, and passed the listing hearing of the Hong Kong Stock Exchange on May 14. This time, Guruiwatt's road to listing is still not smooth. In mid-
May, Guruiwatt made a pre-roadshow, originally scheduled for a week, the financing scale was reduced from an expected $1 billion to 300-400 million yuan, a direct reduction of more than half. On May 29, the Hong Kong Economic Daily reported that Guruiwatt would postpone its listing plan on the grounds that the market environment was full of challenges. Until the date of publication, there was no new progress in the listing process of Guruiwatt. In early October, it was revealed that it would "sell itself" to Blackstone Group for $ 1.5 billion.