Mingteng International Corporation Inc.
Description
Mingteng International Corporation Inc. engages in the design, development, production, assembly, testing, repair, and after-sale service of automotive molds in the People's Republic of China. It offers casting molds for turbocharger systems, braking systems, steering and differential systems, and other automotive system parts, as well as brake caliper molds, steering knuckle molds, and hydraulic part molds. The company also produces molds for new energy electric vehicle motor drive systems, battery pack systems, and engineering hydraulic components for use in automobile, construction machinery, and other manufacturing industries. The company was incorporated in 2021 and is based in Wuxi, China.
About
CEO
Mr. Yingkai Xu
Employees
150
Instrument type
Common Stock
Sector
Industrials
Industry
Metal Fabrication
MIC code
XNCM
Address
Lvhua Village, Luoshe Town, Wuxi, 214189, China
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Summary
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Moving Averages
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Earnings estimate
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| Average estimate | — | — | — | — |
| Low estimate | — | — | — | — |
| High estimate | — | — | — | — |
| Last year EPS | — | — | — | — |
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Growth estimates
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Next year
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Past 5 years (per annum)
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Income statement
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total reported revenue | 8.16M | 7.96M | 7.73M |
| Cost of revenue | 4.83M | 4.05M | 3.72M |
| Gross profit | 3.32M | 3.91M | 4.01M |
| Operating expense | |||
| Research & development | 630,752 | 492,526 | 407,620 |
| Selling general and admin | 950,353 | 1.06M | 734,578 |
| Other operating expenses | -129,138 | -92,832 | -37,356 |
| Operating income | 1.87M | 2.45M | 2.91M |
| Non operating interest income | |||
| Income | 4,459 | 2,171 | 6,515 |
| Expense | 59,477 | 53,991 | 51,465 |
| Other income expense | 34,440 | 58,311 | 127,231 |
| Pretax income | 1.85M | 2.46M | 2.99M |
| Tax provision | 344,586 | 327,384 | 396,860 |
| Net income | 1.51M | 2.13M | 2.59M |
| Basic EPS | — | 0.35 | 0.43 |
| Diluted EPS | — | 0.35 | 0.43 |
| Basic average shares | — | 6.05M | 6.05M |
| Diluted average shares | — | 6.05M | 6.05M |
| EBITDA | 2.41M | 2.94M | 3.34M |
| Net income from continuing op. | 1.51M | 2.13M | 2.59M |
| Minority interests | — | — | — |
| Preferred stock dividends | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Total assets | 10.71M | 10.07M | 7.95M | 5.57M |
| Current assets | ||||
| Cash | 1.06M | 1.79M | 310,170 | 440,783 |
| Cash equivalents | — | — | — | — |
| Cash and cash equivalents | 1.06M | 1.79M | 310,170 | 440,783 |
| Other short term investments | — | — | — | — |
| Accounts receivable | 3.52M | 2.43M | 2.16M | 1.82M |
| Other receivables | 12,344 | 5,287 | 157,561 | 3,899 |
| Inventory | 1.22M | 1.06M | 1.36M | 1.25M |
| Prepaid assets | 388,110 | 240,620 | 26,061 | — |
| Restricted cash | — | — | — | — |
| Assets held for sale | — | — | — | — |
| Hedging assets | — | — | — | — |
| Other current assets | — | — | — | — |
| Non current assets | ||||
| Properties | 24,372 | 577,590 | 586,648 | 76,293 |
| Land and improvements | — | — | — | — |
| Machinery furniture equipment | 4.54M | 3.47M | 2.35M | 1.54M |
| Construction in progress | — | — | — | — |
| Leases | — | — | — | — |
| Accumulated depreciation | -1.23M | -851,305 | -650,073 | -465,495 |
| Goodwill | — | — | — | — |
| Investment properties | — | — | — | — |
| Financial assets | — | — | — | — |
| Intangible assets | — | — | — | — |
| Investments and advances | — | — | — | — |
| Other non current assets | 715,771 | 556,511 | 437,633 | 306,895 |
| Total liabilities | 3.27M | 3.99M | 3.32M | 3.61M |
| Current liabilities | ||||
| Accounts payable | 1.05M | 718,322 | 547,794 | 1.44M |
| Accrued expenses | 207,780 | 249,073 | 712,706 | 201,555 |
| Short term debt | 314,907 | 1.53M | 940,183 | 747,483 |
| Deferred revenue | 401,935 | 61,229 | 103,384 | 184,298 |
| Tax payable | 519,299 | 800,977 | 500,881 | 61,813 |
| Pensions | — | — | — | — |
| Other current liabilities | — | — | — | — |
| Non current liabilities | ||||
| Long term debt | — | — | 6,957 | — |
| Provision for risks and charges | — | 69,034 | 124,284 | 171,577 |
| Deferred liabilities | 246,893 | — | — | — |
| Derivative product liabilities | — | — | — | — |
| Other non current liabilities | — | — | — | — |
| Shareholders equity | ||||
| Common stock | 50 | 50 | 50 | 50 |
| Retained earnings | 6.47M | 4.96M | 3.27M | 938,144 |
| Other shareholders equity | 83,200 | 216,940 | 603,216 | 267,251 |
| Total shareholders equity | 7.45M | 6.07M | 4.63M | 1.96M |
| Additional paid in capital | 897,308 | 897,308 | 751,963 | 751,963 |
| Treasury stock | — | — | — | — |
| Minority interest | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Operating Activities | |||
| Net Income | 1.51M | 2.13M | 2.59M |
| Depreciation | 501,976 | 430,417 | 287,224 |
| Deferred Taxes | 254,224 | -4,304 | -1,763 |
| Stock-Based Compensation | — | — | — |
| Other Non-Cash Items | -88,586 | -85,075 | -58,938 |
| Accounts Receivable | -862,183 | -23,309 | -788,397 |
| Accounts Payable | 348,641 | 224,538 | -911,238 |
| Other Assets & Liabilities | 169,071 | 75,001 | -227,689 |
| Operating Cash Flow | 1.83M | 2.75M | 892,478 |
| Investing Activities | |||
| Capital Expenditures | -761,792 | -1.43M | -857,341 |
| Net Intangibles | — | — | — |
| Net Acquisitions | — | — | — |
| Purchase of Investments | — | — | — |
| Sale of Investments | — | — | — |
| Investing Cash Flow | -761,792 | -1.43M | -857,341 |
| Financing Activities | |||
| Long-Term Debt Issuance | — | — | — |
| Long-Term Debt Payments | -12,488 | -230,372 | -335,488 |
| Other Financing Charges | -172,179 | 4,675 | -438,687 |
| Financing Cash Flow | -1.25M | 165,556 | -774,175 |
| Other Cash Details | |||
| End Cash Position | 1.06M | 1.79M | 307,033 |
| Income Tax Paid | 205,761 | 101,459 | 8,661 |
| Interest Paid | 59,477 | 53,991 | 31,281 |
| Free Cash Flow | 538,197 | 1.41M | 623,572 |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|
Article
Mingteng International Corporation Inc. Announces Financial Results for Fiscal Year 2023
WUXI, China , May 15, 2024 /PRNewswire/ -- Mingteng International Corporation Inc. (Nasdaq: MTEN) (the "Company" or "Mingteng International"), an automotive mold developer and supplier in China, today announced its financial results for the fiscal year ended December 31, 2023. Mr. Yingkai Xu, Chairman and Chief Executive Officer of Mingteng International, remarked, "We are delighted to present our financial results for fiscal year 2023.
May 15, 2024
Article
Mingteng International Corporation Inc. Announces Full Exercise of Underwriters' Over-Allotment Option
Wuxi, China, May 10, 2024 (GLOBE NEWSWIRE) -- Mingteng International Corporation Inc. (the “Company” or “Mingteng International”) (Nasdaq: MTEN), an automotive mold developer and supplier in China, today announced the underwriters of its previously announced initial public offering (the "Offering") have exercised their over-allotment option in full to purchase an additional 157,500 ordinary shares at the public offering price of US$4.00 per share, resulting in additional gross proceeds of $630,000. After giving effect to the full exercise of the over-allotment option, the total number of ordinary shares sold by Mingteng International in the public offering increased to 1,207,500 ordinary shares and the gross proceeds increased to approximately $4.83 million, before deducting underwriting discounts and offering expenses payable by the Company. The option closing date was May 10, 2024. The ordinary shares began trading on the Nasdaq Capital Market on April 18, 2024, under the ticker symbol “MTEN.”
May 10, 2024
Article
Mingteng International Corporation Inc. Announces Closing of Initial Public Offering
Wuxi, China, April 22, 2024 (GLOBE NEWSWIRE) -- Mingteng International Corporation Inc. (the “Company” or “Mingteng International”) (Nasdaq: MTEN), an automotive mold developer and supplier in China, today announced the closing of its initial public offering (the “Offering”) of 1,050,000 ordinary shares at a public offering price of US$4.00 per ordinary share. The ordinary shares began trading on the Nasdaq Capital Market on April 18, 2024, under the ticker symbol “MTEN.”
Apr 22, 2024
