Wei Jie's innovation broke on the first day when he landed in science and technology innovation board. Weijie Innovation was founded on 20 10. Its main business is R&D, design and sales of RF front-end chips. Weijie Chuangxin's products have been widely recognized, and Weijie Chuangxin broke on the first day when he landed in science and technology innovation board.
On the first day of landing in science and technology innovation board, Wei Jie broke 1. On April 12, Weijie Chuangxin was listed on the Science and Technology Innovation Board of Shanghai Stock Exchange, with the stock code of 688 153 and the issue price of 66.6 yuan/share.
However, on the first day of listing, Wei Jie's innovation broke. As of press time, Wei Jie Innovation fell 24.83% to 50.06 yuan, with a total market value of 20.03 billion yuan.
Weijie Chuangxin is mainly engaged in the design and sales of R&D and RF front-end chips, and is a pioneer in the field of RF front-end in China. When Weijie innovation was founded, it focused on the RF power amplifier (PA), which was the most difficult RF front end. Now it has the design technology, mass production experience and overall solution ability of various single-chip and highly integrated modules of PA, RF switch and low noise amplifier.
RF front-end chip is one of the indispensable core devices of wireless communication equipment, which is of great significance. Among them, the core component PA plays the role of amplifying power in the signal transmission path and works continuously in the environment of high current and high power. Its performance directly affects the communication signal quality and equipment life of wireless terminals such as smart phones, and the quality level of mass-produced products will directly affect the stability of communication function performance of brand mobile phones.
In the field of RF front-end, the top five international manufacturers account for more than 80% of the global share. Especially in the high-end market of 5G, at present, international manufacturers occupy more than 90% of the global market share. As the core device in wireless communication equipment, the market demand of RF front-end chips in China has been highly dependent on foreign countries for a long time, and it is urgent for domestic enterprises to make a breakthrough and provide RF front-end product solutions with the same performance and quality as international manufacturers for brand enterprises and ODM enterprises of various wireless communication terminals.
At present, Weijie Chuangxin's RF front-end products have been verified by customers for a long time, and are widely used in smart phones and wearable devices of global first-line mobile phone brands such as Xiaomi, OPPO, vivo and glory. According to the list of chip design enterprises in China in 2020 published by CB Insights, Weijie Chuangxin's 4G RF power amplifier product shipments rank first among domestic manufacturers.
With the advent of the 5G era, the application of multi-band, high frequency, carrier aggregation and other complex technologies poses a higher technical challenge to the RF front-end. As a member of the pioneer industry alliance of China Mobile's 5G terminal, Weijie Innovation actively cooperates with operators to provide support for the commercial landing of 5G. Based on the forward-looking layout of cutting-edge technologies and markets, Weijie Chuangxin launched the 5G PA module in the first year of China's 5G commercialization (20 19), and achieved mass production and sales in 2020, further rapidly increasing the sales proportion of 5G related products in 20021year.
According to the forecast of Yole Development, the RF front-end industry will reach the global market scale of $265,438+$67 million in 2026, with broad development prospects. Based on years of technology accumulation and industry precipitation, Weijie Chuangxin's business scale and performance have developed rapidly. During the period from 20 18 to 202 1, the compound growth rate of operating income exceeded 200%, and the annual operating income in 2002/kloc-0 exceeded 3.5 billion yuan.
On the first day of landing in science and technology innovation board, Wei Jiechuang Xin broke 12 in April. Weijie Innovation was listed on the Science and Technology Innovation Board of Shanghai Stock Exchange, and 40.08 million shares were publicly issued, accounting for 65,438+00.02% of the total share capital after this public offering. The issue price is 66 yuan/share, and it is planned to raise 2.487 billion yuan.
According to CNMO, Weijie Innovation was founded on 20 10. Its main business is R&D, design and sales of RF front-end chips. Its main products are RF power amplifier module (PA module), some RF switch chips and Wi-Fi RF front-end module products. Since 20 18, Weijie Chuangxin has gradually become a supplier of head brand manufacturers such as Xiaomi and vivo, and has supplied them on a large scale.
From 20 18 to the first half of 200210, the company's revenue was 284 million yuan, 58 1 10,000 yuan,18/10,000 yuan and170.2 million yuan respectively, among which the main sales products were RF PA modules. At the same time, we can see that Weijie Chuangxin's products have been widely recognized, the demand for products has increased, and the revenue has also been greatly improved.
HIP chip innovatively developed by Wei Jie
At present, the actual controllers of the company are Rong and Sun Yijun. Rong was the chairman of Tianyu Mobile. The largest shareholder of the company is Gaintech, a subsidiary of MediaTek, holding 28. 12 shares of the company. In addition, related industrial chain companies including Huawei Hubble Investment and Xiaomi Fund also invested in Weijie Innovation.
On the first day of landing in science and technology innovation board, Wei Jie broke 3. Wei Jie innovation (688 153. SH), the leading domestic RF front-end PA module manufacturer, officially landed in science and technology innovation board for trading. The issue price of the company's stock is 66.6 yuan/share, which broke at the opening today, and the opening price was directly 30% lower. As of noon, Weijie Innovation's share price fell by 36.29% to close at 42.43 yuan/share.
April 12, Wei Jie Innovation (688 153. SH), the leading domestic RF front-end PA module manufacturer, officially landed in science and technology innovation board for trading. The issue price of the company's stock is 66.6 yuan/share, which broke at the opening today, and the opening price was directly 30% lower. As of noon, Weijie Innovation's share price fell by 36.29% to close at 42.43 yuan/share.
According to the prospectus, Wei Jie Innovation plans to raise 2.487 billion yuan to issue shares in the initial public offering of science and technology innovation board. After deducting the issuance expenses, the raised funds will be invested in the following projects: 654.38+308 million yuan for integrated circuit production test projects; 679 million yuan for R&D center construction projects; 500 million yuan is used to supplement working capital projects.
According to the announcement, Weijie Chuangxin is an integrated circuit design enterprise specializing in the design and sales of R&D and RF front-end chips. It mainly provides customers with RF power amplifier module products, RF switch chips, Wi-Fi RF front-end modules, receiving modules and other integrated circuit products, which are widely used in smart phones, tablet computers, wireless routers, smart wearable devices and other terminal products with wireless communication functions.
Among the domestic RF front-end integrated circuit design enterprises, the richness of the company's product line is more prominent, and it has opened a deep cooperation mode with many well-known downstream manufacturers. At present, the company has developed and designed a variety of high-performance and high-reliability PA modules, RF switches, receiver modules and RF front-end products that meet Wi-Fi 6, covering 2G-5G communication technology. At present, it has the design and mass production capacity of a variety of moderately integrated PA modules, and has realized the batch shipment of highly integrated modules such as L-PAMiF.
Among them, in terms of RF power amplifier (PA) products, the company belongs to one of 65 integrated circuit design enterprises with market growth, product representativeness and technology scarcity, and the shipment of 4G RF power amplifier ranks first in China.
The company has the ability to provide 5G RF front-end solutions. In 20 19, the 5G PA module went on the market, and it will be mass-produced and sold in 2020. At present, the company's 5G RF front-end products have been applied to high-end products of well-known end customers. 20 18-202 1 The cumulative shipments in the first half of the year exceeded 1 billion, covering mainstream mobile phone brands such as Xiaomi, OPPO and vivo.
Independently research and design PA module products, and establish long-term and stable cooperative relations with upstream suppliers in the industrial chain. Among the PA modules designed and sold by the company, only the patch and LTCC filter in the highly integrated module belong to the matching devices directly purchased from abroad, and the integrated chip die and substrate are independently designed by the company and commissioned by the supplier.
The company has established cooperative relations with leading suppliers in the upstream of the industrial chain, such as wafer suppliers such as Mao Wen, TSMC, Grofonde, substrate suppliers such as Zhuhai Yueya, SMD raw material suppliers such as Murata, and well-known packaging manufacturers such as Changdian Technology and Yongshi Electronics, thus reducing the impact of capacity fluctuation on the delivery time of the company.
In terms of revenue and profit, Weijie Chuangxin's annual operating income in 20021,1-June, 2020, 20 19 and 20 18 were 170 and189, respectively. The net profit was 4,258,600 yuan,-77,729,654 yuan, 38+0,000 yuan,-29,994,543+0,000 yuan and-33,858,800 yuan respectively. Generally speaking, Weijie Chuangxin's revenue grew rapidly, but its net profit suffered a continuous loss in the past three years (20 18-2020).
In terms of revenue proportion, as of June 20021year, 97.27% of Weijie Chuangxin's revenue came from PA module, and the proportions of RF switch, WiFi RF front-end module and receiving module were only 0.9%, 1.6 1% and 0.22% respectively.
As for R&D investment, the prospectus shows that the R&D expenditure of the company accounted for 2 1.45%, 15.79% and12.6438 in 20/8-2020 and 20021-June, respectively.
As of June 30th, 20021,the number of R&D personnel of the issuer was 17 1, accounting for 53. 1 1% of the total number of the issuer's employees. There are 23 invention patents 1, all of which are used for the issuer's main business, and there are more than 5 invention patents that generate main business income.
From the perspective of ownership structure, as of June 30th, 20021,Gaintech, a wholly-owned holding entity in MediaTek, was the largest shareholder of Weijie Chuangxin, holding 28. 12%.
But Rong directly holds 4.80% of the shares of the company/kloc-0, and indirectly controls 9.39% of the shares of the company through Tianjin Yujie and Tianjin Yuteng; Sun Yijun directly holds 3.05% of the company's shares, and indirectly controls the company 1 1.05% through Beijing Yuyue and Tianjin Yushang. They signed the Agreement on Concerted Action on 20 19 1 to keep consistent with the decision-making and voting on major issues of the company and continue to control the company.
As of the signing date of this letter of intent, the proportion of shares directly held and indirectly controlled by Rong and Sun Yijun reached 38.29%, which was higher than 28. 12% of Hi-Tech, that is, the actual controllers of the company were Rong and Sun Yijun.
In addition, for the purpose of long-term financial investment, in order to ensure the stability of the company's control rights, MediaTek and its wholly-owned holding entity Gaintech *** both promised not to seek the company's control rights, and made specific special commitments such as not expanding the proportion of shares and voting rights and limiting the number of nominated directors. The above commitments are permanent and cannot be revoked, withdrawn or modified under any circumstances; At the same time, it also promises to take remedial, corrective and binding measures for the failure to fulfill the relevant commitments of not seeking control rights, and will bear corresponding legal responsibilities if it violates them.
If the actual controllers Rong and Sun Yijun disagree on the company's decision-making on major issues in the future, and fail to resolve disputes and reach an agreement in accordance with the Agreement on Concerted Action, it may reduce the efficiency of the company's decision-making on major issues and weaken the continuity and effectiveness of joint control; If MediaTek and Goldtech violate the above commitments and fail to take effective measures to remedy and correct them in time, their shareholding status may affect the stability of corporate governance and corporate control.
It is worth mentioning that Huawei's Hubble Investment, OPPO and Xiaomi Changjiang Industrial Fund are also shareholders of Weijie Chuangxin, among which Hubble Investment holds 3.57%, OPPO Mobile holds 3.39% and Xiaomi Fund holds 1.74%.