On January 2, 2020, SCFR Precision Technology Group successfully went public and plans to raise 880 million yuan for the construction of high-precision aluminum new communication electronic materials and deep processing production, construction of R&D centers, and supplementary working capital.
SCFR is mainly engaged in the research and development, production and sales of aluminum structural parts for consumer electronic products. The main products are aluminum structural materials for consumer electronic products such as smart phones, tablet computers, and notebook computers, which are used in smart terminal products of Apple, Samsung, Huawei, VIVO, OPPO and other brands, mainly smart phones.
From 2014 to 2016 and from January to June 2017, Furong Technology achieved revenues of 1.664 billion yuan, 1.63 billion yuan, 1.781 billion yuan and 1.405 billion yuan, respectively.
SCFR has a relatively high concentration of customers, most of which are terminal brands or contract manufacturers. During the reporting period, the total sales revenue of the company's top five customers accounted for 56.88%, 73.19%, 76.78% and 84.51% of the main business revenue in each period.
The company’s relatively concentrated customer structure is mainly due to the company’s implementation of a market strategy centered on major customers, actively exploring and operating domestic and foreign well-known brand customers, accumulating a large number of core customers including Samsung, BYD, Shishi Tongda, etc., and has established a good relationship with them. The cooperative relationship has formed a relatively stable customer base.