Recently, the Shenzhen Stock Exchange disclosed information showing that Shanghai Jinbiao Culture and Creative Co., Ltd. (hereinafter referred to as "Jinbiao Culture" or "Jinbiao Shares") and its sponsor withdrew its listing application documents. As a result, the Shenzhen Stock Exchange decided to terminate the review of the company's initial public offering and listing on the main board.
According to Beduo Finance, Jinbiao shares will pre-disclose the prospectus in July 2022 and prepare to be listed on the main board of the Shenzhen Stock Exchange, planning to raise about 596 million yuan. After the implementation of the full registration system, Jinbiao shares will submit a prospectus in January 2023 and continue to sprint to the listing.
Tianyancha App shows that Jinbiao was established in May 2009 and was formerly known as Shanghai Jinbiao Industrial Co., Ltd. At present, the registered capital of the company is 60 million yuan, the legal representative is Xu Guangrong, and the shareholders include Xu Guangrong, Liu Zhiqiang, Xu Guangyang, Ye Weiming, etc.
According to the prospectus, Jinbiao Co., Ltd. is a comprehensive solution provider integrating design, research and development, production and installation of brand terminal image display. Jinbiao said in the prospectus that the company has been focusing on the brand terminal image display business since its establishment, and is committed to providing customers with a visual identity display experience to help build and enhance the brand image.
In 2020, 2021, 2022 and the first half of 2023, the revenue of Jinbiao Co., Ltd. will be 377 million yuan, 523 million yuan, 684 million yuan and 328 million yuan respectively, the net profit will be 68.8913 million yuan, 80.7395 million yuan, 89.7006 million yuan and 34.9272 million yuan respectively, and the net profit after deducting non-profits will be 51.5816 million yuan, 65.3305 million yuan, 78.4329 million yuan and 31.1091 million yuan respectively.
Jinbiao said in the prospectus that the company provides services such as terminal image display product installation or terminal image integration construction according to the needs of downstream customers. In accordance with industry practice, the company cooperates with labor suppliers with corresponding qualifications to solve the labor employment needs implemented on site by means of labor service procurement.
During the reporting period, the labor service procurement amount of Jinbiao shares was 41.6832 million yuan, 58.083 million yuan, 86.0938 million yuan and 46.3508 million yuan respectively, accounting for 21.41%, 18.65%, 20.07% and 24.70% of its total procurement respectively. It is not difficult to see that the company has the risk of labor procurement and labor supplier concentration.
Bedo Finance understands that the income of gold standard shares is mainly contributed by terminal image display products. During the reporting period, the sales revenue of the company's terminal image display products was about 349 million yuan, 462 million yuan, 543 million yuan and 259 million yuan respectively, accounting for 92.89%, 89.17%, 80.18% and 79.41% of its main business income respectively.
Jinbiao shares in the prospectus said that the company in the product sales business on the basis of giving full play to the traditional advantages of the business, and actively develop the terminal image construction integration service and terminal image design and project management services business, the proportion of the above business revenue during the reporting period has increased, a total of 7.11%, 10.83%, 19.82% and 20.59% respectively.
In terms of fields, the revenue of Jinbiao shares mainly comes from automobile sales, consumer catering, automotive aftermarket, financial services and other industries, and its main customers include Shell, BYD, Li Auto, Haojue Suzuki, Gujia Home, Sailis, etc. Among them, the largest customer changes frequently.
Before the listing, the actual controllers of Jinbiao shares were Xu Guangrong, Liu Zhiqiang and Xu Guangyang, and the three of them signed a concerted action agreement to jointly control the company, controlling a total of 85.32% of the voting rights of the company. At present, Xu Guangrong is the chairman of the company, Liu Zhiqiang is the director and general manager, and Xu Guangyang is the director and deputy general manager.
Among them, Xu Guangrong and Xu Guangyang are brothers.