On December 12, the initial public offering of A shares of Chang Ying Tong optoelectronics ceremony was held.

Founded in 2010, ChangYingTong Optoelectronics has been deeply engaged in the main business of fiber optic ring for many years, steadfastly following the path of independent research and development and innovation, with the mission of "providing the best solution for light transmission signal and energy transfer", and is committed to becoming the leader of fiber optic ring segmentation industry and a comprehensive solution provider of fiber optic ring components. The company's core products are fiber optic rings used in fiber optic gyroscopes and their main material, deflection-protected fiber, which are widely used in important military industries.

2022 expected revenue of 290-320 million yuan Planning product system in four categories

From 2018 to the first half of 2021, the company's sales revenue of fiber optic ring devices and special optical fiber accounted for 89.17%, 88.59%, 89.68% and 89.66% of the main business revenue, which is the main component of the main business revenue.

From January to September 2022, Changyingtong achieved operating revenue of approximately RMB213 million, an increase of 32.21% over the same period of the previous year, and the net profit attributable to shareholders of the parent company was RMB51.0935 million, an increase of 37.90% over the same period of the previous year, mainly due to the continuous expansion of the Company's main business and the rapid growth in the sales scale of fiber optic rings and other major products, as well as From January to September 2022, the company obtained the approval of military products tax exemption to increase the net income by 5.91 million yuan.

The company expects to achieve operating income in 2022 in the range of 290 million yuan to 320 million yuan, an increase of 10.72% to 22.18% year-on-year; the net profit attributable to shareholders of the parent company in 2022 is expected to range from 77 million yuan to 86 million yuan, an increase of 0.54% to 12.29% year-on-year.

Chang Ying Tong Optoelectronics is committed to the "5 + 1 focus concentric circles" industrial strategy, that is, fiber optic ring and other special optical devices as the core, the formation of optical devices, including special optical fiber, new materials, mechanical and electrical equipment, optoelectronic systems and measurement and testing services, including the "5 + 1 focus concentric circles "The company's industrial strategy layout.

In the future, the company's product development will be based on the core of special optical devices such as fiber optic rings, and the development of five major areas such as special optical fibers related to optical devices, new materials, electromechanical equipment, optoelectronic systems and metrology and testing services.

The company's planned product system can be divided into four major categories.

Core products: along the fiber optic gyro industry chain in depth development, inertial navigation field applications of fiber optic ring and optical module products to achieve miniaturization, high precision, standardization, low-cost inertial navigation of technology and product localization.

Cultivate products: for products applied in the field of marine hydroacoustics, in-depth study of the characteristics of special fiber optic cable components products required for hydroacoustic hearing, research and development of supporting products, to achieve stable batch supply and solve the system bottleneck. For the products applied in the field of energy internet, form the system solution capability of communication component products for wind power and the system solution capability of key products in the field of engineering application such as extra high voltage and flexible straight.

Emerging products: For products in the field of laser energy transfer, realize the industrialization of the technology, production line, testing-related platform and product research and development for the whole product chain of low, medium and high power laser-related active doping and matched passive special fiber optic cable components, and become a key core component supplier in the field of laser energy transfer.

Support products: As a platform technology to support the development of the above three major products, we will continue to improve the adhesive and coating material products used in polarization-preserving fiber rings and polarization-preserving fibers; develop production equipment for polarization-preserving fiber rings and special fibers with higher automation level and higher efficiency; and continue research and development in thermal control materials and testing technology.

The main customers for establishing core technology system are Aerospace Science and Industry Group.

ChangYingTong photoelectricity in the relevant fields for many years, through the "ring - fiber - adhesive - module - equipment" integrated micro-industrial chain, the simultaneous development of each field, together to promote the fiber ring and polarization fiber and other products to do a good job. The company has become an important supplier of the related military supporting system and occupies an advantageous position in the increasingly fierce competition in the market. In addition, we have established long-term and good business cooperation with inertial navigation research and production units under military industry groups, such as Aerospace Science and Industry Group, Aerospace Science and Technology Group, Weapon Industry Group, Aviation Industry Group, CEC and China Shipbuilding Group, etc. Our main customers are well-known enterprises and institutions with leading technical strength in fiber optic gyro industry, and we have signed strategic cooperation agreements with some of them. Product quality is stable, reliable, and strong delivery capability, which is recognized by customers, and continue to expand the scale and depth of product support to military customers. Chang Ying Tong Optoelectronics also sells products such as winding equipment and fiber optic rings to GEM elettronica Srl, an internationally renowned fiber optic gyro manufacturer in Italy, which reflects the technical strength.

In terms of research and development, from 2018 to the first half of 2021, the investment of Changyingtong Photoelectric was 110.219 million yuan, 13.8537 million yuan, 13.446 million yuan and 7.4876 million yuan, and the ratio of research and development investment to operating income was 7.92%, 7.80%, 6.22% and 6.73% respectively. As of the date of the prospectus, the company and its subsidiaries have a total of 95 patents, including 54 invention patents, 38 utility models and 3 designs, and have formed a core technology intellectual property pool covering special optical fibers, optical fiber rings, adhesives for optical fiber gyroscopes and ring winding equipment, and have competitive advantages in the core product technology.

In terms of technology, the company has established a relatively comprehensive core technology system, including fiber ring technology, fiber design technology, preform preparation technology, fiber drawing technology, coating material technology, fiber gyro system technology, equipment technology and testing technology, etc. The current product technology development direction is in line with the national focus on solving the "neck" The current product technology development direction is in line with the national strategic policy of focusing on solving "neck" key technology areas, which is of great significance to break through foreign patent barriers and technology blockade, and to guarantee military industry support and national defense security.

After years of R&D investment and technology cultivation, the company and its R&D team have made several technological breakthroughs in the field of optical fiber ring and special optical fiber, with rich technical reserves and experience accumulation. Among them, the optical fiber ring and deflection-holding optical fiber products of Chang Ying Tong Optoelectronics have been installed in many types of weapons and equipment as supporting parts, and are widely used in the sea, land, air and sky.