A-share subscription | Multi-category home storage products company Taili Technology opens subscription, a global supplier for retail giants like IKEA and Walmart

According to Zhitong Finance APP, on May 8, Taili Technology (301595.SZ) opened for subscription, with an issue price of 17.05 yuan per share, a subscription limit of 6,500 shares, and a price-to-earnings ratio of 21.55 times. It is listed on the Shenzhen Stock Exchange, with Minsheng Securities as its sponsor. The prospectus reveals that Taili Technology is a high-tech enterprise focused on the research and development of new materials and the industrial application of vacuum technology. Its main business includes the research, production, and sales of various home storage products and related functional materials, such as vacuum storage, wall-mounted storage, modified atmosphere preservation, outdoor equipment, and safety protection. The company's products are sold in over 160 countries and regions worldwide and serve as global suppliers for retail giants like IKEA, Walmart, and Carrefour. In terms of vacuum storage product development, the company is the exclusive supplier of compression bags for China's aerospace program. Its products have been sent to space 25 times, addressing the risks of product rupture in the vacuum environment of space and the slow release risks of non-metal materials inside the cabin. This has made significant contributions to the long-term stay of astronauts in orbit and life support for astronauts, serving the national strategy for becoming a strong aerospace nation. It has ensured the safety of national manned space missions for 15 consecutive years, 25 times, with a 100% guarantee. According to reports, Taili Technology's own brand sales are divided into online and offline sales, with online sales being the primary focus. Online sales are mainly conducted through e-commerce platforms such as Tmall, Douyin, JD.com, and Amazon; offline sales are mainly through supermarkets and distributors; ODM/OEM sales are primarily directed at large international and domestic retailers. In terms of finance, for the fiscal years 2021, 2022, 2023, and the first half of 2024, the company achieved operating revenues of approximately 623 million yuan, 638 million yuan, 835 million yuan, and 544 million yuan, respectively. The company's net profits were approximately 43.5821 million yuan, 58.8718 million yuan, 84.9778 million yuan, and 51.7806 million yuan. Taili Technology has warned in its prospectus about the risk of significant increases in e-commerce platform fees. The company primarily conducts online sales through e-commerce platforms such as Tmall, JD.com, Douyin, and Amazon. During the reporting period, the company's online sales revenue from its main business was approximately 477 million yuan, 493 million yuan, 654 million yuan, and 446 million yuan, accounting for 77.37%, 78.23%, 79.43%, and 83.06% of the company's main business revenue, respectively, indicating a high proportion During the reporting period, the expenses of the company's e-commerce platform accounted for 29.11%, 28.24%, 33.99%, and 36.52% of the online main business revenue, respectively. If the fee standards charged by the e-commerce platform significantly increase in the future, or if the company's operating conditions on the aforementioned e-commerce platforms do not meet expectations, leading to further increases in promotional costs,