Zhongtai Securities Co.Ltd(600918) the small and medium-sized market research team combed and studied the companies approved by the CSRC for IPO registration in the latest week of gem and science and Innovation Board (2022.02.07-2022.02.13), and launched the weekly special research report on new shares. This weekly report involves 2 enterprises to be issued on the science and innovation board and 3 enterprises to be issued on the gem:
Kechuang board:
The first drug holding company (A21028.SH): the company is a small molecule innovative pharmaceutical company in the clinical research stage. The pipeline covers non-small cell lung cancer, lymphoma, hepatocellular carcinoma, pancreatic cancer, thyroid cancer, ovarian cancer, leukemia and other important cancer indications and other important diseases such as type II diabetes. From January to June 2021, the company’s main business income was 7 million yuan, and the net profit attributable to the shareholders of the parent company was -69.5931 million yuan. The company’s products are still in the R & D stage, the products have not yet achieved commercial production and sales, the number of pipelines under research is large and the R & D investment is large. Affected by the increase of national medical insurance investment and the improvement of people’s consumption ability, China’s total health expenditure is growing steadily. Compared with conventional tumor radiotherapy and chemotherapy, targeted therapy can act at the cellular and molecular level, and the market of anti-tumor targeted drugs continues to expand, with the proportion gradually increasing. With the enhancement of the company’s anti-tumor drug R & D and industrialization ability promoted by the raised investment project, the company is expected to further improve its industry strength and market position.
Gaoling information (a21060. SH): the company is a high-tech enterprise engaged in the R & D, production and sales of military telecommunication network communication equipment, environmental protection Internet of things application products and network and information security products, and can provide users with comprehensive solutions. In 2020, the revenue of military telecommunication network communication equipment accounted for 71.25% and that of environmental protection Internet of things application products accounted for 18.65%. The compound annual growth rates of the company’s revenue and net profit from 2018 to 2020 were 50.54% and 128.85% respectively, and the growth capacity was higher than the average level of comparable companies in the same industry. The field of military telecommunication network communication equipment has a broad market and steady growth. With the raising and investment projects promoting the improvement of the company’s technology R & D capability, the overall level of independent innovation, and the enhancement of the production capacity and service capacity of core products, the company is expected to further improve its industry strength and market position.
Gem:
Xiangming intelligent (a17255. SZ): the company is a national high-tech enterprise with independent R & D and innovation ability. It is mainly engaged in the R & D, production and sales of micro and special motors, fans and intelligent components, and provides customized, intelligent and modular components and overall solutions for customers in HVACR, transportation vehicles, communication systems, medical health and other industries. The compound annual growth rate of the company’s revenue and net profit from 2017 to 2020 was 4.66% and 14.31%.. The power equipment manufacturing industry has a certain market demand, the deepening of national policies to support relevant industries, and the expansion of market demand space. According to the prediction of allied market research, the compound growth rate of the global micro and special motor market scale will reach 4.10% from 2021 to 2030. With the enhancement of the company’s R & D and production capacity promoted by raised investment projects, under the joint action of technological upgrading and increased demand, The company is expected to further improve its industry strength and market position.
Jusailong (a20500. SZ): the company is a high-tech enterprise specializing in the R & D, production and sales of modified plastics. The compound annual growth rates of the company’s revenue and net profit from 2017 to 2020 were 18.30% and 50.94% respectively, with good growth capacity. The field of modified plastics has a broad market and steady growth. The growth of application demand for modified plastics in the downstream market is the main driving force for industrial development. As the raised investment projects promote the improvement of the company’s modified plastic technology R & D capacity and the overall level of independent innovation, as well as the enhancement of the production capacity and service capacity of core products and businesses, the company is expected to further improve its industry strength and market position.
Red intelligence (a20638. SZ): as one of the pioneer enterprises in the home appliance intelligent controller industry, the company’s main business is the R & D, production and sales of intelligent controllers, as well as the production and sales of a small number of terminal products. The compound growth rates of the company’s revenue and net profit attributable to the parent company from 2017 to 2020 were 16.01% and 56.68% respectively. With the development of artificial intelligence, cloud computing, big data, 5g business and Internet of things technology, terminal products in the fields of household appliances, medical and health care, electric tools and smart home are constantly upgraded, and the demand for intelligent control is growing. With the implementation of the raised investment project, it will give play to the effect of economies of scale, improve the layout of the company’s production line of high value-added intelligent controller, improve the company’s production capacity and R & D capacity, and enhance the company’s profitability.
Risk tips: 1) the corresponding companies still have the risk of failure to be listed due to special events; 2) The research is only based on the prospectus (Registration draft) and other public materials of the corresponding company, which can not fully reflect the latest situation of the company.
