Zhitong financial APP learned that on December 19, Hunan Changbudao Optoelectronic Technology Co., LTD. (referred to as: Changbudao) Shanghai Stock Exchange science and Technology board IPO review status changed to “termination”. A few days ago, Long walk applied to withdraw the application documents for listing. In accordance with the relevant provisions of Article 63 of the Rules for the Review and Approval of Stock Offerings and Listings of the Shanghai Stock Exchange, the SSE terminates its review and approval of stock offerings and listings.

According to the prospectus, Long Walk is based on the field of machine vision, with machine vision core hardware industrial lenses as its main products, to help downstream industrial enterprises to improve the level of intelligent manufacturing and industrial automation. As the eye of intelligent manufacturing and industrial automation, the industrial lens is equivalent to the lens of machine vision, and is the starting point of the object information collection and transmission process.

The company’s independent research and development of industrial lenses can achieve ultra-small picture distortion, ultra-high resolution, ultra-large target surface and other characteristics, can meet the large field of view Angle, ultra-high precision, ultra-short focal length, axis shift and different wavelengths of light applicable requirements, widely used in new energy, semiconductor, photovoltaic, display panel, 3C electronics, automotive, food and medicine and many other important industrial fields. Terminal application customers include BYD, Ningde Times, Chip Acer micro installation, Lead intelligence, Zhiyang Innovation, Zhongke Micro to, Bozhong Seiko, precision test electronics and other well-known enterprises.

758-873

As a domestic industrial lens enterprise, the company has a comprehensive product series of standard industrial lens (FA lens), line scan lens (LS lens), large target lens, telecentric lens, special industrial lens, etc. There are more than 1000 kinds of product models. Is the industry’s leading industrial lens series, more complete specifications, and has the optical lens from the front to the back end of the vertical integration of design, manufacturing and testing capabilities of manufacturing enterprises. The company’s products in the main performance indicators with Germany Schneider, Japan Moritex, Japan Computar and other international well-known enterprises similar products, has reached the international advanced level.

The composition of the company’s main business income by product during the reporting period is as follows:

The net funds raised by the company after deducting the issuance expenses are all used for projects related to the company’s main business. The basic information of investment projects is shown in the following table:

In terms of finance, in 2020, 2021 and 2022, the operating income of Long Walk was 139 million yuan, 208 million yuan and 248 million yuan, respectively. In the same period, the net profit attributable to the owner of the parent company was 14.9592 million yuan, 31.845 million yuan and 46.6040 million yuan, respectively.

According to the long walk in the prospectus, there is a risk that the company’s market development does not meet expectations. With industrial lenses as the core, the company has extended its business in industrial cameras, industrial testing equipment and other industrial chains, and has developed and designed high-end consumer products such as movie lenses. Industrial lenses, industrial cameras and industrial inspection equipment are competitive products in the field of intelligent manufacturing and industrial automation applications, but the existing market participants continue to increase, continue to introduce products representing different technical levels, seize the existing market share, but also enhance the company’s market development difficulty.

Long Walk mentioned that the film lens is an emerging product line actively developed by the company, but the current market is still dominated by well-known foreign brands, and there is still uncertainty about the development of the emerging market for film lenses. If the company can not continue to apply the core technology to develop competitive products, and organize an efficient sales team for market development, the company will face the risk of market development is not up to expectations, which will adversely affect the company’s business.