Feirongda: demonstration and analysis report on the non-public issuance of a shares on the growth enterprise market in 2019 (Revised)
Time: 17:06:29, February 21, 2020
Original title:
Fei Rong Da
: demonstration and analysis report on non-public issuance of A-share on the growth enterprise market in 2019 (Revised)
Stock abbreviation:
Fei Rong Da
Stock Code: 300602 Announcement No.: 2020-014 Shenzhen
Fei Rong Da
Shenzhen FRD Science & Technology Co., Ltd. demonstration and analysis report on the non-public issuance of a shares on the growth enterprise market in 2019 (Revised Version)
Fei Rong Da
Technology Co., Ltd. (hereinafter referred to as“
Fei Rong Da
”Or "the company") in order to meet the capital demand of the company's business development, increase the company's capital strength and enhance its profitability, according to the company law of the People's Republic of China, the securities law of the People's Republic of China and the Interim Measures for the administration of securities issuance of listed companies on the growth enterprise board and other relevant laws and regulations and normative documents, it is proposed to issue A shares in private to raise funds The total amount is no more than 700000000 yuan, which will be used for "5g communication device industrialization project" and supplement the company's working capital after deducting the issuance cost. 1、 The background and purpose of this non-public offering (I) the background of this non-public offering 1. The country vigorously promotes the development of 5g communication industry. The global communication industry has entered a new period of great integration, great change and great transformation. The new generation of information technology, represented by the new generation of communication network, cloud computing, Internet of things, smart grid, etc., as a national strategic emerging industry, is becoming an important driving force for the next round of economic development. In order to cope with the explosive growth of mobile data flow, massive device connections, and emerging new business and application scenarios in the future, the fifth generation mobile communication system (5g) emerges as the times require, and penetrates into all fields of the future society, so as to realize the intelligent interconnection between people and everything conveniently. 5g technology is in the key period of technical standard formation and industrialization cultivation. In the national digital strategy, 5g is regarded as the priority development field in all countries in the world, strengthening industrial layout and shaping new competitive advantages. In the face of the considerable opportunities brought by 5g technology, China attaches great importance to the development of 5g technology. In the strategic planning of network power, manufacturing power, 13th five year plan and information development strategy, we have made clear plans to promote 5g development, and 5g has become the commanding point of national strategy. In 2016, the general office of the CPC Central Committee and the general office of the State Council issued the outline of national informatization development strategy, proposing to actively carry out the research and development, standards and industrial layout of the fifth generation mobile communication (5g) technology, and to make a breakthrough in the research and development and standards of the fifth generation mobile communication (5g) technology by 2020. In 2017, China issued the 13th five year plan outline, which clearly pointed out that it is necessary to accelerate the construction of a new generation of high-speed, mobile, secure and ubiquitous information infrastructure, actively promote the development of 5g and start 5g business. In June 2019, the Ministry of industry and information technology of the people's Republic of China sent
China Unicom
China Radio and television issued 5g commercial license, marking the further acceleration of domestic 5g construction. According to the 5g economic and social impact white paper released by China Academy of information and communication, according to the official commercial calculation of 5g in 2020, it is expected to drive about 484 billion yuan of direct output in that year, and will increase to 3.3 trillion yuan in 2025 and 6.3 trillion yuan in 2030, respectively, with an average compound growth rate of 29% in ten years. 1562737831 (1) source: 5g economic and social impact white paper of China Academy of information and communication 2. The application of 5g technology will directly drive the market demand for related communication devices On the one hand, in the early stage of 5g business, operators need to carry out large-scale network construction. Because 5g technology has the characteristics of high frequency and short transmission distance, its millimeter wave antenna will adopt array antenna, so as to achieve beam forming. Therefore, the complexity of base station antenna and communication equipment under 5g technology is getting higher and higher, which requires new technology and higher precision processing capacity; at the same time With the transition of mobile phone and other terminal electronic equipment to 5g system, its internal structure is more compact, the number of internal RF antennas has doubled, and the demand for electromagnetic shielding, thermal conductivity and other performance of electronic devices is also increasing. On the other hand, 5g will reconstruct all the key underlying foundations needed for digitalization, including big data, cloud computing, blockchain, network security, virtual reality and augmented reality. It will also generate more application scenarios and derive more digital and wireless business models, such as the Internet of vehicles, cloud platform computing, etc. These new application scenarios and business models will involve a large number of complex communication and storage equipment, as well as other data communication connections, environmental control equipment, monitoring equipment, etc. the increase in the demand for these electronic devices also requires a large number of electronic devices that are suitable for their application scenarios and performance requirements. Therefore, under the joint effect of these two factors, the commercial application of 5g technology will bring a huge incremental market for the communication industry, and will also directly stimulate the market demand for upstream communication devices. 3. Actively layout 5g industry by combining endogenous R & D and extension integration As a leading professional electromagnetic shielding and heat conduction solution provider in China, the company has always been adhering to the tenet of "quality first, customer first, mutual benefit and common development", attaches great importance to R & D and innovation, relies on the company's technology accumulation and customer reserves, and is a key metallization Engineer for new materials with high thermal conductivity, high reliability electromagnetic shielding materials and 5g antenna vibrator surface The R & D of art and other new materials and technologies should be continuously invested, new products should be actively developed, new performance growth points should be built, and endogenous growth should be realized. At the same time, on this basis, the company also actively carries out extensive industrial integration, improves the company's antenna design, R & D and testing capabilities through the acquisition of Bowei communication, and opens up the upstream and downstream industrial chain of the antenna; acquires runxingtai, improves the antenna end product support, strengthens the semi-solid die-casting technology layout, and completes the overall layout of the new base station solution; acquires Kunshan pindai, and Gonggong The company's heat conduction materials business has formed a synergistic effect, effectively reducing costs and forming an industrial chain layout from upstream materials to downstream modules. Through the combination of endogenous R & D and extension integration, the company has laid out the solutions for electromagnetic signal transmission, electromagnetic shielding and heat dissipation needed by 5g communication, and gradually formed the industrial chain from upstream materials to downstream modules, which will directly benefit from the development of 5g communication industry in the future. 4. The company has accumulated strong R & D strength and excellent customer resources Since its establishment, the company has paid attention to R & D and innovation. After years of R & D and production accumulation, the company has mastered a wealth of electromagnetic shielding and heat conduction technologies, such as carbon fiber Metallization Technology, conductive silica gel formula and multi-color porous coextrusion technology, local metal deposition of non-metal dipoles, plastic electroplating microwave antenna and other core technology. The company closely tracks the latest technology application, market and technology development trend in the industry, and continues to carry out research on new technologies. Relying on its technological innovation and R & D capabilities, the company has made breakthroughs in the research and development of high-performance heat conduction materials and phase change materials, and has successfully developed new products such as the new generation 5g antenna vibrator, and has a number of invention patents. The company has been recognized as a national high-tech enterprise for many consecutive years, with strong R & D advantages. Its "production and R & D project of electromagnetic shielding and heat conducting insulator" has been listed as "2016 major renewal project" in the new material field of strategic emerging industries by Shenzhen city. At the same time, the company has been recognized by more and more customers with its excellent product technology, professional service advantages and years of intensive work in the industry. Its brand image and customer trust have been constantly improved. It has established close long-term cooperation with many well-known enterprises at home and abroad, including Huawei, ZTE, Nokia, Cisco, Lenovo, Foxconn, Hesuo, New Asia, etc Enterprise. These customers are leading enterprises in the fields of information and communication, electronic manufacturing, etc. the good cooperation between the company and these enterprises drives the continuous and stable growth of the company's performance, and also lays a good foundation for the company to lay out 5g communication industry. （2） The purpose of this non-public offering 1. The investment project of the raised capital is an important step for the company to realize the strategic layout of 5g communication industry The company has been engaged in electromagnetic shielding, heat conducting materials and communication devices for a long time, providing customers with integrated application solution services. In the process of business development, the company attaches great importance to technology research and development and product innovation, and has made breakthroughs and achievements in the field of materials, which have promoted the steady growth of the company's performance. Under the background of national policies vigorously promoting 5g communication technology development and commercial use, the company also actively seizes the market opportunity to integrate upstream and downstream and expand its product line around the industrial chain of 5g communication devices. The raised funds of the company will be mainly invested in the "5g communication device industrialization project", which includes the construction of 5g communication device production workshop, R & D office building and processing production line, and is an important part of the company's layout of 5g communication industry. Therefore, the company will continue to promote the company's technological innovation, industrial innovation and operational capacity through the project construction raised by the non-public issuance, further enhance the company's comprehensive competitive strength, help the company grasp the market development opportunities brought by 5g communication technology, and realize the strategic layout of 5g communication industry. 2. The project is conducive to improving the company's product structure and enhancing the company's profitability The "5g communication device industrialization project" to be invested by the raised funds of this issuance will mainly produce 5g radome, antenna vibrator and high-performance structural parts for communication equipment such as switch and router after the implementation of the project, and these products will mainly meet the construction requirements for relevant base station antenna and communication equipment in 5g commercial process in the future. On the one hand, the 5g antenna vibrator to be put into production in this fund-raising project adopts the selective electroplating process originally developed by the company, and adopts the plastic injection molding + electroplating and other processes to prepare the metal layer + selective laser etching process, which has the advantages of light weight and strong plasticity, and can effectively meet the needs of the integration of base station antenna multi vibrator in the 5g era, with obvious competitive advantages; on the other hand On the one hand, the project will also expand the company's capacity in communication equipment structure, which will be mainly used in switches, servers, routers and other communication equipment. 5g technology puts forward higher requirements for the electromagnetic shielding and heat conduction scheme inside the communication equipment. By improving the production capacity of relevant equipment structure, the company is able to match the existing electromagnetic shielding and heat conduction scheme During the heat conduction period, the products form product collaboration to better provide customers with overall solutions for electromagnetic shielding and heat conduction applications. Therefore, the implementation of the project can further improve and enhance the company's product structure and enhance the company's profitability. 3. The raised investment project will enhance the capital strength of the company and meet the demand for working capital. In recent years, the company has achieved rapid growth in business performance through continuous technology research and development, unremitting market development, product upgrading and customer expansion. With the continuous increase of the company's market share and business scale, the company also needs to further improve its capital strength to support the sustainable and healthy development of various businesses.