聯特科技登陸創業板,上市首日大漲30%!
9月13日,聯特科技(301205.SZ)正式登陸創業板,其發行定價40.37元/股,對應28.93倍市盈率,與行業平均市盈率(29.27倍)較為接近。
N聯特大幅高開,盤中漲幅維持在30%左右,最新市值約38億元。
聯特科技是一家主營光通信收發模塊的研發、生產和銷售的企業,致力於開發高速率、智能化、低成本、低功耗的中高端光模塊產品,為電信、數通等領域的客户提供光模塊解決方案。
2019年-2021年各報吿期,公司實現營業收入分別為3.77億元、5.17億元和6.98億元,對應的淨利潤分別為5641.74萬元、4315.42萬元和1.06億元。
報吿期內,公司綜合毛利率分別為37.37%、30.69%和36.82%,呈現一定波動。未來隨着公司收入規模的擴大、市場份額的提升,以及光模塊行業競爭進一步加劇,公司毛利率存在進一步波動或下降的風險。

(主要財務指標,招股書)
隨着公司對於下游數通、電信市場的持續開拓,光模塊產品銷售上升,公司預計2022年1-9月營業收入為5.8億元至6.4億元,同比上年增長19.4%-31.75%;預計淨利潤盈利8000萬元至9000萬元,同比上年增長15.05%-29.43%。
聯特科技的產品以海外銷售為主,產品主要銷往美國、歐洲等國家和地區。報吿期內,公司產品出口銷售收入佔同期營業收入的比例分別為92.34%、80.49%和89.89%,預計未來若干年內公司外銷收入金額及佔營業收入比例仍會較高。
隨着銷售規模的擴大,公司存貨規模呈上升趨勢。報吿期各期末,公司存貨賬面價值分別為1.23億元、2.04億元和2.87億元,佔各期末流動資產的比例分別為34.83%、38.25%和44.96%。
同時,公司的應收賬款佔比較高。報吿期各期末,公司應收賬款餘額分別為1.06億元、1.28億元和1.66億元,佔當期營業收入比例分別為28.04%、24.66%和23.81%。如未來主要客户生產經營發生不利變化,則將導致應收賬款發生壞賬的可能性加大,從而對公司經營成果造成一定的不利影響。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.