science and technology innovation board, a pilot registration system, is "closing the entrance" to the capital market.
1. Titan Technology failed to clearly disclose the connotation of "professional technology integration", the difference between it and the commonly understood "technology integration" and whether it is a way of one-stop online sales;
2. More than 93% of Titan Technology's revenue comes from the sales of scientific research reagents, scientific research instruments and consumables, and more than 5% of its products are directly sold to the outside world after directly purchasing third-party brand products, which does not fully explain the embodiment of "professional technology integration" in its operating results;
3. As for the self-owned brand products, Titan Technology adopts OEM (OEM) production method, and only two people are responsible for the on-site process guidance and quality control of the OEM, and some products are directly purchased from the OEM and then sold to the outside world, which does not fully explain the embodiment of "professional technology integration" in the above business model.
1. Titan Technology's prospectus does not fully disclose the specific application of production core technology and technology integration service core technology in products and services, and does not clearly disclose the position of related technologies in domestic and foreign counterparts;
2. In the "products and services related to core technologies" from 216 to 218, the revenue of special chemicals accounted for more than 6%, but its gross profit margin was significantly lower than the overall operating gross profit margin.
3. Titan Technology regards the income from "special chemicals sold to manufacturers" as "income from products and services related to core technologies", but it has not fully disclosed its reasons and rationality, nor has it disclosed the advanced nature of its core technologies.
the company is a leading enterprise in the domestic scientific service industry, and has developed into a few local enterprises that can directly compete with international giants such as Thermo-Fisher Scientific, Danaher and Merck KGaA.