Summary of the Prospectus for Issuing Convertible Corporate Bonds to Unspecified Qualified Investors
Securities Abbreviation: Vico Precision Securities Code: 301499
Shanghai Vico Precision Mold & Plastics Co., Ltd. (No. 598, Beihangshahe Road, Minhang District, Shanghai)
Sponsor (Lead Underwriter): Guotai Haitong Securities Co., Ltd. Address: No. 618, Shangcheng Road, China (Shanghai) Pilot Free Trade Zone Date: June 2026
Statement
The China Securities Regulatory Commission (CSRC) and the stock exchange do not guarantee the truthfulness, accuracy, or completeness of the application documents and disclosed information, nor do they make any substantive judgment or guarantee regarding the issuer's profitability, investment value, or investor returns. Any statement to the contrary is a false representation.
According to the Securities Law, after the securities are issued in accordance with the law, the issuer is solely responsible for changes in its operations and earnings. Investors shall independently judge the investment value of the issuer, make their own investment decisions, and bear the investment risks arising from changes in the issuer's operations, earnings, or securities price fluctuations after the issuance.
Important Notice
The company reminds investors to pay attention to the following major matters or risk factors and to read the relevant chapters of the prospectus carefully.
I. Special Risk Warning
Investors should pay special attention to the following risks before making investment decisions:
(I) Risk of Capacity Utilization Dependency on Major Customers for Project 1
The "Semiconductor Component Production Base Construction Project (Phase I)" is primarily designed to meet the potential market demand of downstream customers such as Innosilicon and to achieve localized supporting production. Based on the long-term strategic cooperation agreement between the issuer and Innosilicon, Innosilicon's estimated procurement amount accounts for approximately 70% of the project's revenue in the year it reaches full production. There is a risk that the project's capacity utilization depends on this major customer. Given that the strategic cooperation agreement lacks substantive binding clauses regarding breach of contract, if Innosilicon fails to procure products as agreed and other market demand is not released in time, Project 1 may face the risk of insufficient capacity utilization.
If Innosilicon fails to procure the full amount of products related to Project 1, the estimated revenue, net profit, and their proportions relative to the original projections under different procurement ratios are as follows:
| Item | Scenario 1 | Scenario 2 | Scenario 3 |
|---|---|---|---|
| Innosilicon Procurement Ratio | 85% | 70% | 50% |
| Project 1 Revenue (10k RMB) | 47,692.55 | 42,097.34 | 34,637.05 |
| Proportion of Original Revenue | 89.50% | 79.00% | 65.00% |
| Project 1 Net Profit (10k RMB) | 7,415.06 | 6,299.32 | 4,811.66 |
| Proportion of Original Net Profit | 86.92% | 73.84% | 56.40% |
As shown in the table above, if Innosilicon fails to procure the full amount, the expected revenue, net profit, and other benefit indicators of the project will fall short of expectations, which will have a certain adverse impact on the company's overall operating performance.
(II) Risk of Customer Concentration and Reliance on a Single Customer
The company's major customers include Tier 1 automotive component suppliers such as United Automotive Electronic Systems (UAES), Bosch, and BorgWarner, as well as connector manufacturers like TE Connectivity and Amphenol, all of which are well-known domestic and international companies. During the reporting period, sales revenue from the top five customers accounted for 79.87%, 72.42%, and 69.82% of total sales, respectively, with a certain reliance on UAES. The high customer concentration is mainly due to the high concentration of the downstream industry itself, which is in line with industry practice.