A-share subscription | Polymer modified protective material manufacturer Jundaida (301538.SZ) opens subscription. Products can be used for Tesla and other automotive manufacturers.

On March 11th, Jundongda (301538.SZ) initiated the subscription process with an issue price of 55.82 yuan per share and a subscription limit of 25,000 shares. The price-earnings ratio is 20.26 times, and it belongs to the ChiNext board of the Shenzhen Stock Exchange, with China Securities Co., Ltd. as its exclusive sponsor. According to the prospectus, Jundongda's main business is the design, research and development, production, and sales of polymer modified protective materials. Its main products include functional protective sleeves and functional monofilaments, which are widely used in various fields such as automotive, engineering machinery, rail transportation, and communication electronics. The company's main products, known for their good temperature resistance, UV resistance, flame retardancy, chemical corrosion resistance, etc., provide safe protection for wire harness systems, fluid pipelines, etc., in various fields by offering functions such as wear resistance, insulation, impact resistance, shielding, explosion resistance, fire prevention, noise reduction, etc. It is reported that Jundongda has successively entered the supply chain of well-known terminal manufacturers in the automotive, engineering machinery, rail transportation, communication electronics industries both domestically and internationally. Its direct customers include Amphenol, Sumitomo Electric Industries, BYD Company Limited, Gates Industrial, Zhuzhou CRRC Times Electric, Taiko Electronics, etc. The products are ultimately used by automotive manufacturers such as SAIC-GM, Dongfeng Honda, GAC Honda, Dongfeng Nissan, Chongqing Changan Automobile, Great Wall Motor, BYD Company Limited, NIO, Xiaopeng Motors, Ideal Motors, Tesla, GAC Aion, construction machinery manufacturers such as Caterpillar, Sany Heavy Industry, rail transit vehicle manufacturers represented by CRRC Group, and communication electronics manufacturers such as Molex, Shenzhen SDG Information. During the reporting period, the company's main business revenue was distributed as follows: It is understood that Jundongda plans to use the funds raised for the following projects after deducting the issuance expenses: Financially, in 2020, 2021, and 2022, the company achieved operating revenues of approximately 326 million yuan, 467 million yuan, and 522 million yuan respectively. The net profits were approximately 70.63 million yuan, 98.55 million yuan, and 114 million yuan, respectively. It is important to note that the prospectus specifically reminds investors to pay attention to the risks of rising raw material prices or supply disruptions. The company's main raw materials such as resin materials and composite fibers need to be purchased externally. Material costs are a major component of the company's product costs, accounting for 60.08%, 61.54%, 61.42%, and 60.40% of the main business costs during the reporting period. As the prices of raw materials may fluctuate due to factors such as upstream oil price fluctuations, if the prices of major raw materials increase significantly in the future, it may have a negative impact on the company's operations. In addition, if suppliers fail to deliver purchased raw materials to the company on time as agreed, it may affect the company's production and sales plans, and have a detrimental impact on the company's operations. Assuming that the purchase prices of raw materials increase by 5% and 10% respectively during the reporting period, and other factors remain unchanged, the changes in the company's total profit are as follows: