Kunbo Seiko will be launched on the 23rd. The company has two underexplored bright spots, one is an industrial robot arm and the other is a semiconductor concept

1. Kunbo Precision ProductionIndustrial robot arms and other partsIndustrial automation equipment parts

Kunbo Seiko’s high-end equipment precision molded parts products can be divided into four series according to their application fields: wind turbines, industrial automation equipment, offshore engineering equipment, and semiconductor processing equipment. Wind turbine parts include wind power gear box seats, spindle bearing seats, etc.; industrial automation equipment parts include electric precision injection molding machine templates, oil cylinders, industrial robot arms, swivel seats and other main joint components; Industrial equipment parts include seawater desalination valves and offshore oiling and cutting device parts; semiconductor processing equipment parts include grinding and polishing discs, cutting fuselage parts, etc.

We have long-term and stable customers in the field of precision molded parts, such as Yunda Co., Ltd., Nissei Plastic Machinery (Taicang) Co., Ltd., KUSANOCO., LTD., Zhejiang Shuaifeng Precision Machinery Manufacturing Co., Ltd. and other domestic and foreign enterprises.

In the road show, investors asked: What are the company’s plans for robots? Li Quanming, Chairman of Kunbo Seiko, replied: Electric injection molding machine components, industrial robot joints, gear box support components, main bearing seat components, single crystal silicon growth vacuum furnace bodies, etc. are supporting components for downstream equipment, and their technological development direction mainly depends on Downstream equipment manufacturing requirements. At present, the trend of high precision of industrial automation equipment, large-scale wind power installations, large-size and thin silicon wafers has become the consensus of industry development. Therefore, for upstream supporting component manufacturers, on the premise of ensuring quality standards, they must comply with the supporting requirements of downstream equipment components. Demand is bound to be the focus of future enterprise research and technology development. The company plans to realize the industrialization of key components of industrial robots in the future and develop the market for industrial robots.

2. The semiconductor grinding discs produced by Kunbo Seiko are components of precision grinding machines and are used in semiconductor processing equipment

In 2020, the subsidiary Kunbo New Energy was established to enter the photovoltaic and semiconductor industries. It mainly develops and produces single crystal silicon growth vacuum furnace bodies and components, and seeks new developments in the fields of photovoltaic new energy equipment and semiconductor wafer manufacturing equipment. It conducts research and development on precision parts for front-end processing equipment such as silicon wafer squaring, slicing, and grinding, and has core technologies such as hollow runner welding and precision molding in the manufacturing of single crystal furnace bodies.

In addition to the photovoltaic industry, the company has also entered the semiconductor industry with single crystal silicon growth vacuum furnaces and components, seeking new developments in the field of semiconductor wafer manufacturing equipment.

Currently, my country's ADAS, data center and other industries have bright prospects for development, driving structural improvement in the demand for my country's semiconductor industry; digital demands such as 5G and remote office have led to explosive growth in the amount of data in our country, thus driving domestic semiconductor silicon wafer production growth in demand. In addition, in recent years, the government has successively introduced a number of supportive policies for new materials, semiconductors and other fields, so the policy environment for my country's semiconductor wafer industry continues to improve.

Against the background of strong terminal demand and favorable policy environment, my country's silicon wafer production has increased year by year, and the scale of the semiconductor silicon wafer market has expanded rapidly

Mainland China is one of the world's major semiconductor material consumer markets. However, we still mostly rely on imported semiconductor silicon wafers. Foreign silicon wafer equipment manufacturers account for most of the global market. Domestic manufacturers have a relatively low market share, and the level of equipment localization is still low. However, our high dependence on foreign countries and the urgent need for independent and controllable semiconductor silicon wafers have provided the domestic semiconductor silicon wafer market with a broader space for domestic substitution, promoted the growth of domestic semiconductor silicon wafer equipment demand, and also brought about single orders. Increase in crystalline silicon growth vacuum furnace business

During the road show, investors asked the company that it has been operating in the photovoltaic and semiconductor industries for many years. How is its current business development? Li Quanming, Chairman of Kunbo Precision Industry, replied: In the photovoltaic field, we have been in business for more than three years. Thanks to the long-term favorable "dual carbon" policy, the business has developed rapidly. The main customer is Jingsheng Electromechanical, a leading domestic enterprise in the industry. We are the only three qualified suppliers of crystal furnace bodies. As the new factory is about to be built, our business volume will continue to increase. has passed preliminary research and development in the semiconductor field and has already trial-produced cutting machines, grinders and other semiconductor processing equipment based on wafer processing. Precision components are entering small batches and have a good market for future development.

3. Quasi-new shares: There are only 240,200 tradable old shares left

The company issued 7.85 million new shares, with a total post-issuance share capital of 31.400307 shares. The issuance price was 19.48 yuan, corresponding to a total post-issuance market value of 612 million yuan. Some shareholders voluntarily restricted their sales for one month, so there were only 240,200 tradable old shares left. The circulating capital after the issuance was 80.902 billion yuan, and the circulating market value after the issuance was 158 million yuan.

The company’s non-net profit in 2022 will be 33.0454 million, corresponding to the issuance price-earnings ratio of 18.51 times. Non-net profit deducted in the first three quarters of this year was 38.3897 million, corresponding to a dynamic price-to-earnings ratio of 11.96 times.

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