A-share subscription | Multicategory home storage products company Taili Technology (301595.SZ) opens subscription as a global supplier for retail giants such as Ikea and Walmart.

On May 8th, Taiki Technology (301595.SZ) started its subscription process, with an issue price of 17.05 yuan per share and a subscription limit of 6,500 shares. The price-earnings ratio is 21.55 times, and it is listed on the Shenzhen Stock Exchange, with Minsheng Securities as its sponsoring institution. According to the prospectus, Taiki Technology is a high-tech enterprise focused on the research and development of new materials and the industrial application of vacuum technology. Its main business includes research, production, and sales of various household storage products and related functional materials such as vacuum storage, wall-mounted items, controlled atmosphere preservation, outdoor equipment, and safety protection. The company's products are sold in over 160 countries and regions worldwide, and it is a global supplier to retail giants such as IKEA, Walmart, and Carrefour. In terms of vacuum storage product research and development, the company is the exclusive supplier of special compressed bags for China's aerospace industry. Its products have entered space 25 times, solving the risks of product explosions in space vacuum environments and the gradual release of non-metallic materials in the cabin. This has made outstanding contributions to the long-term presence of astronauts in orbit and their life protection, serving the strategic needs of the country's aerospace power. It has guaranteed the safety of national manned space missions for 15 consecutive years, 25 times, 100%. Taiki Technology's own-brand sales are divided into online and offline sales, with a focus on online sales. Online sales mainly take place through platforms such as Tmall, Douyin, JD.com, and Amazon; offline sales are mainly through supermarkets and distributors. The company's ODM/OEM sales mainly target large international and domestic retailers. Financially, the company achieved operating revenues of approximately 623 million yuan, 638 million yuan, 835 million yuan, and 544 million yuan in the fiscal years 2021, 2022, 2023, and the first six months of 2024 respectively. Its net profits were approximately 43.5821 million yuan, 58.8718 million yuan, 84.9778 million yuan, and 51.7806 million yuan. Taiki Technology's prospectus highlights the significant risk of a sharp increase in e-commerce platform fees. The company primarily conducts online sales through platforms like Tmall, JD.com, Douyin, and Amazon. During the reporting period, the company's online sales accounted for approximately 4.77 billion yuan, 4.93 billion yuan, 6.54 billion yuan, and 4.46 billion yuan, representing 77.37%, 78.23%, 79.43%, and 83.06% of the company's main business income. During the reporting period, the company's e-commerce platform fees accounted for 29.11%, 28.24%, 33.99%, and 36.52% of the online main business income. If the fees charged by e-commerce platforms significantly increase in the future, or if the company's performance on these platforms falls below expectations, resulting in further increases in promotional costs.