Tiejiangjun plans IPO

Tiejiangjun Company has made great efforts in the OEM market, with revenue continuing to grow and gross profit margin declining. Total revenue: 860 million, 870 million (+1.5%), and 950 million (+9.2%) in 2015~2017. Net profit attributable to the parent company: 94 million, 74 million (-21.1%), and 86 million (+15.5%) in 2015~2017. The company was established in 2014 and currently has 1 wholly-owned subsidiary (Hong Kong Tiejiangjun) and 1 branch (Shenzhen R&D Branch). The total number of employees in the company in 2015~2017 was 1,257, 1,289, and 1,362 respectively. The company has a total share capital of 80 million shares. Guangtenghui Holdings is the company's controlling shareholder. Chairman Li Anpei and Vice Chairman Li Miaoyan and his wife hold a total of 100% of the company's shares and are the actual controllers of the company. Ultrasonic radar and tire pressure monitoring system are the company's main sensor products. The total revenue of these two products from 2015 to 2017 was 293 million, 333 million (+13.3%), and 348 million (+4.5%), accounting for more than 85% of the total revenue of sensor products; the total revenue of other products from 2015 to 2017 was 99 million, 101 million (+2.7%), and 45 million (-55.5%). The company's ultrasonic radar sales in 2015 to 2017 were 1.2 million, 1.35 million (+12.3%), and 1.65 million (+22.5%). The average price of ultrasonic radar has declined, but driven by the sales growth, the sales were 165 million, 185 million (+11.7%), and 220 million (+19.3%). The company's tire pressure monitoring system sales in 2015-2017 were 280,000, 320,000 (+17.6%), and 370,000 (+13.7%), respectively. The average price of tire pressure monitoring systems dropped significantly, with sales of 128 million, 148 million (+15.5%), and 128 million (-13.8%). The company's keyless entry and start system sales in 2015-2017 were 130,000, 230,000 (+74.6%), and 370,000 (+62.7%), respectively, with sales of 70 million, 104 million (+49.5%), and 158 million (+51.4%). The company's sales volume of Internet of Vehicles communication terminals in 2015~2017 were 40,000, 100,000 (+179.5%), and 240,000 (+135.6%), respectively, with sales of 18 million, 53 million (+188.3%), and 121 million (+130.2%), respectively.