Recently, Ruike Laser launched its initial public offering and listed its prospectus on the GEM, adding new power to the laser concept stocks. According to the prospectus, Ruike Laser intends to publicly issue new shares of no more than 32 million shares of common stock. After the proceeds are deducted from the issuance expenses, it will invest in the development and industrialization of high-power fiber lasers, and the industrialization and development of high-power semiconductor laser pointers. With the application engineering center project, the total investment amount is 111,915,300 yuan.
It is understood that Ruike Laser is a key high-tech enterprise specializing in the R&D, production and sales of fiber lasers and their key components and materials. It has a national high-power fiber laser innovation team and a national and regional alliance of fiber laser technology. Engineering Research Center, the main business includes laser fiber manufacturing equipment integrators to provide a variety of fiber laser products and application solutions, and provide customers with technical research and development services and customized products. It is the first company in China specializing in R&D of fiber lasers and core devices and achieving large-scale production. It has developed China's first 25W pulsed fiber laser products, the first 100W, 1,000W, 4,000W, 6,000W and 10,000W. The continuous fiber laser products are formed into batch production, and the key technologies of the fiber laser pointer and its core components and materials are mastered, and the vertical integration of the upstream industrial chain of the fiber laser is realized.
According to the prospectus, as of March 31, 2018, the total assets of Ruike Laser were RMB 925,972,200, the total liabilities were RMB 31,696,700, and the owner's equity was RMB 609,031,500. The financial position was good. In the first quarter of 2018, the company realized revenue of RMB 32,085,300, a year-on-year increase of 74.59%. The net profit attributable to shareholders of the parent company was RMB 11,269,200, a year-on-year increase of 101.38%. According to Ruike Laser, the profitable indicators such as operating income from January to March 2018 and net profit attributable to shareholders of the parent company maintained rapid growth compared with the same period of last year, mainly due to the continuous improvement of the downstream customers' demand, medium and high power continuous fiber. The sales revenue of laser products maintained a rapid growth.
According to the prospectus, in 2015, 2016, 2017 and the first quarter of 2018, the revenue of Ruike Laser was 312,762,300 yuan, 522,294,100 yuan, 951,182,200 yuan, 322,085,300 yuan, net profit attributable to shareholders of the parent company. They were 24,643,300 yuan, 80,935,400 yuan, 27,71,750 yuan and 11,026,100 yuan respectively. Benefiting from the increase in revenue of medium and high power fiber lasers and the increase in the proportion of self-made core components, the net profit attributable to shareholders of the company in 2016 and 2017 increased significantly, up 82.01% and 211.31% respectively.
According to the prospectus, the book value of the receivables of the laser pointer was 82,856,600 yuan, 43,353,100 yuan and 5,094,800 yuan respectively, accounting for 32.08%, 12.85% and 8.82% of the current current assets, respectively, accounting for a year-on-year decline. Since 2016, Ruike Laser has improved the cash flow of its operations and strengthened the collection of accounts receivable. At the end of 2016, the amount and proportion of accounts receivable decreased significantly from the end of 2015; the sales revenue in 2017 increased significantly, and at the end of 2017, The receivables only increased slightly compared to the end of 2016. In the past three years, the original values of accounts receivable with an age of less than one year were RMB 75,832,400, RMB 35,0428,800 and RMB 4,741,500, respectively, accounting for 87.77%, 76.41% and 88.18% respectively, and the age was less than one year. Accounts receivable accounted for a relatively high proportion.