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It is no exaggeration to say that the masses need mobile communications and cars as much as they need water and air. The two parallel industries intersect in precision metal components. Suzhou Cheersson Precision Metal Forming Co., Ltd. (stock abbreviation: Cheersson, stock code: 002976), a precision metal parts manufacturer of intersection, has developed comprehensive advantages in integrated service, customer resources, quality and management after eight years of deep development, and ushered in a highlight moment in its development history.

On March 6, Cheersson successfully went public. This time, Cheersson issued 25 million new shares at 19.01 RMB /share, raising 434.2667 million RMB net.

According to the prospectus, Years of accumulation in technology and market have promoted the competitiveness of Cheersson, and at the same time, it has achieved rapid growth in performance. In the past three years, the main business income of Cheersson was 456,576,600 RMB, 559,051,500 RMB and 59,077,670 RMB respectively. The growth rate of sales scale reached 32.69%, 22.44% and 5.67%.

It is worth mentioning that customers in the field of mobile communication and automobile are the main contributors to the performance of Cheersson. In recent three years, the income from the field of mobile communication accounts for 52.60%, 47.97% and 42.92% of the main business income respectively. The income from the automotive sector accounted for 27.79%, 32.62% and 37.67% of the main business income respectively, and the amount of income continued to grow, accounting for about 80% of the main business income together.

To reduce the impact of COVID-19 and economic downward pressure, investment plans are being rolled out across the country. What is interesting is that investment is focused on 5G, new energy vehicles, cloud computing and industrial Internet. The next interconnection of everything needs to be supported by 5G infrastructure. Currently, 19 provinces and cities have listed "promoting the construction of 5G communication network" as the key work in 2020 in their government work reports, and six of them have clearly planned the number of new 5G base stations in 2020, with a total of more than 178,000.

One of the visual embodiment of 5G's popularity is that fixed asset investment of communication operators is rising steadily. Rf devices are one of the core components of mobile communication base station and antenna feed system. Precision metal components in mobile communication field produced by Cheersson are mainly applied to rf devices of mobile communication base station such as filters and diplexers. It can be seen that the increase of mobile communication investment will directly drive the demand of upstream precision metal parts.

In addition, By constantly improving product quality and research and development capabilities, Cheersson meets downstream customer certification requirements in terms of hardware and software, so as to firmly "hold" the reputation and trust of customers in the automotive field. Now, The automotive precision metal parts products produced by Cheersson are applied to multiple automotive systems. Mainly for safety and steering system support components, cage components, etc., we have accumulated high-quality customer resources from large multinational auto parts suppliers and electric power manufacturers, including Nokia, Ericsson, Flextronics, New America, Jeep, Minth, Harman, ZF TRW, Continental, Magna, Schneider and so on.

In the field of mobile communications, Jefferies predicts that the total investment of China Mobile, China Unicom and China Telecom in 5G network construction will reach 180 billion US dollars, equivalent to about 1.2 trillion RMB. According to dongxing Securities, the investment scale of base station radio frequency devices composed of radio frequency components and components is about 147.2 billion RMB. In the automotive sector, the sales revenue of China's auto parts and accessories manufacturing industry has reached 4 trillion RMB in 2018, and is expected to reach 4.3 trillion RMB in 2019. These undoubtedly provide a broad market space for precision metal manufacturing industry.

For mobile communication and automobile industry to provide precision metal parts of the broader market encouraging, larger quantity of metal parts and components industry enterprises in our country also nots allow to ignore, some companies such as Cheersson positioning high-end market, metal manufacturing enterprise in the field of services to the same degree of competition and decreased with the increase of precision metal parts of market environment, It is not easy to form its core competitiveness steadily, but it faces the embarrassment of limited capacity and single financing channel in further development and expansion.

Now Cheersson stand out, from the capital market to raise capital planning automotive, communications, and other precision metal components of construction project, in an attempt to increase big efforts for the development of automotive, communications, precision metal parts, form scale production ability, is in a short period of time to catch up with the international advanced level, improve product competitiveness, achieve better import substitution and go abroad, And in the market competition to seize more opportunities to seek greater development to lay a foundation.

According to the prospectus, Cheersson Will have an annual production capacity of 92 million precision metal parts for communications and 148 million precision metal parts for automobiles after the construction projects are completed. Centering on the mobile communication market with continuous fast reading growth and the automobile market with strong consumer demand, Rima Industry will have stronger power after breaking through the bottleneck of production capacity.

For the future, Cheerssons aid that it would further expand the existing business, enrich and improve the existing product system, enhance the depth of business, extend business application fields, reduce costs, form scale, improve the overall level of operation and management of the company, and comprehensively improve the overall competitive advantage of the company's existing business.

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