Shanghai Hongying Intelligent Technology Co., Ltd
Special announcement on investment risk of initial public offering
Sponsor (lead underwriter): Citic Securities Company Limited(600030)
The application of Shanghai Hongying Intelligent Technology Co., Ltd. (hereinafter referred to as "Hongying intelligent", "issuer" or "company") for the initial public offering of no more than 18.36 million ordinary shares (hereinafter referred to as "this offering") has been approved by the China Securities Regulatory Commission (hereinafter referred to as "CSRC") zjxk [2022] No. 200.
After negotiation between the issuer and the sponsor (lead underwriter) Citic Securities Company Limited(600030) (hereinafter referred to as " Citic Securities Company Limited(600030) " or "sponsor (lead underwriter)"), 18.36 million new shares are issued this time. The issuance will be implemented through the trading system of Shenzhen Stock Exchange (hereinafter referred to as "Shenzhen Stock Exchange") and the offline issuance electronic platform on February 17, 2022 (t day).
The issuer and the recommendation institution (lead underwriter) specially draw investors' attention to the following contents:
(I) investors are kindly requested to pay attention to the issuance process, online and offline subscription and payment, disposal of share repurchases, etc. the details are as follows:
1. Based on the preliminary inquiry results, the issuer and the recommendation institution (lead underwriter) have negotiated and determined the offering price of 38.61 yuan / share by comprehensively considering the issuer's fundamentals, industry, valuation level of comparable companies, market conditions, demand for raised funds, underwriting risk and other factors.
Investors are requested to make online and offline subscription at this price on February 17, 2022 (t day), and there is no need to pay the subscription fund at the time of subscription. The offline issuance and Subscription Date and online subscription date are the same as February 17, 2022 (t day). Among them, the offline subscription time is 09:30-15:00, and the online subscription time is 09:15-11:30, 13:00-15:00.
2. According to the inquiry results after excluding the invalid quotation, the recommendation institution (lead underwriter) shall quote all the placing objects from high to low according to the purchase price, and from small to large according to the proposed purchase quantity of the placing objects at the same purchase price For the same purchase price and the same proposed purchase quantity, the order shall be from the last to the first according to the application time (subject to the time record in the offline issuance electronic platform of Shenzhen Stock Exchange). The quantity of the highest quotation in the total amount of proposed purchase shall be excluded, and the excluded amount of proposed purchase shall not be less than 10% of the total amount of proposed purchase by offline investors. When the maximum declared price is the same as the determined issue price, the Declaration on the price can no longer be excluded, and the exclusion proportion can be less than 10%. The excluded part shall not participate in offline subscription.
3. Online investors shall independently express their purchase intention and shall not fully entrust securities companies to purchase new shares on their behalf.
4. Offline investors shall, according to the announcement on the preliminary placement results of offline issuance of initial public offering of shares by Shanghai Hongying Intelligent Technology Co., Ltd., pay the subscription capital in full and on time according to the finally determined issuance price and allocated quantity before 16:00 on February 21 (T + 2) 2022.
After the online investors win the lottery in the subscription of new shares, they shall fulfill the obligation of capital delivery in accordance with the announcement on the results of online lottery in the initial public offering of shares by Shanghai Hongying Intelligent Technology Co., Ltd., so as to ensure that their capital account will eventually have sufficient new share subscription funds on February 21 (T + 2) 2022. The transfer of investors' funds shall comply with the relevant provisions of the securities company where the investors are located.
Offline investors, like the same placing object, are allocated multiple new shares on the same day. They must pay for each new share in full and fill in the remarks in accordance with the specifications. If the placing object has insufficient funds for a single new share, all the new shares allocated to the placing object on that day will be invalid, and the resulting consequences shall be borne by the investors themselves.
The shares that offline and online investors give up to subscribe for are underwritten by the sponsor (lead underwriter).
5. When the total number of shares paid and subscribed by offline and online investors is less than 70% of the number of public offerings, the issuer and the sponsor (lead underwriter) will suspend the issuance of new shares and disclose the reasons for the suspension and subsequent arrangements.
6. If the offline investors who provide effective quotation fail to participate in the subscription and the offline investors who obtain the preliminary placement fail to pay the subscription amount in time and in full, it will be deemed as a breach of contract and shall bear the liability for breach of contract. The recommendation institution (lead underwriter) shall report the breach of contract to the China Securities Association for the record. If online investors fail to pay in full after winning the lottery three times in a row within 12 months, they shall not participate in the subscription of new shares, depositary receipts, convertible corporate bonds and exchangeable corporate bonds within 6 months.
(II) any decision or opinion made by the CSRC and other government departments on this issuance does not indicate that it makes a substantive judgment or guarantee on the investment value of the issuer's shares or the income of investors. Any statement to the contrary is a false statement. Investors are invited to pay attention to investment risks, carefully study and judge the rationality of issuance pricing, and make investment decisions rationally.
(III) investors who intend to participate in this offering and subscription must carefully read the information published in China Securities Journal, Shanghai Securities News, securities times, Securities Daily, economic reference network and cninfo (www.cn. Info. Com. CN) on February 9, 2022 (T-6) The summary of the letter of intent of Shanghai Hongying Intelligent Technology Co., Ltd. for initial public offering of shares published on and published on cninfo.com.cn on February 9, 2022 (T-6) The full text of the prospectus, especially the chapters of "tips on major matters" and "risk factors", fully understand the risk factors of the issuer, judge its operation status and investment value by itself, and make investment decisions prudently. The issuer's operating conditions may change due to the influence of politics, economy, industry and operation and management level, and the possible investment risks shall be borne by the investors themselves. (IV) there are no circulation restrictions and locking arrangements for the shares issued offline this time, and the shares issued this time will begin to circulate from the date of listing and trading on the Shenzhen Stock Exchange. Investors should pay attention to the investment risk caused by the increase of stock circulation on the first day of listing.
(V) the price of this offering is 38.61 yuan / share. Investors are requested to judge the rationality of the pricing of this offering according to the following conditions.
1. According to the industry classification guidelines for listed companies issued by the CSRC, the industry of the company is "C40 instrument manufacturing industry". As of February 11, 2022 (T-4), the average static P / E ratio of "C40 instrument manufacturing industry" released by the China Securities Index in the latest month was 36.87 times.
The P / E ratio of listed companies whose main business is similar to that of the issuer is as follows:
Securities code securities abbreviation last 20 trading days 2020 2020 static
Average price (yuan / share) earnings per share (yuan / share) P / E ratio (Times)
831305. BJ Haixi communication 26.61 1.2405 21.45
002979.SZ China Leadshine Technology Co.Ltd(002979) 26.29 0.5369 48.97
300124.SZ Shenzhen Inovance Technology Co.Ltd(300124) 63.45 0.7260 87.40
Arithmetic mean 52.61
Data source: wind information, data as of February 11, 2022
Note: 1. There may be mantissa difference in the calculation of P / E ratio, which is caused by rounding; 2. The data in the table is calculated based on the share capital of comparable listed companies on February 11, 2022. Earnings per share in 2020 = the lower of the net profit / total share capital attributable to shareholders of the parent company before and after deducting non recurring profits and losses audited by accounting firms in 2020 in accordance with Chinese accounting standards.
The issuance price of this time is 38.61 yuan / share. The lower of the net profit attributable to the shareholders of the parent company before and after deducting non recurring profits and losses in 2021 is 22.99 times the diluted P / E ratio, which is lower than the average static P / E ratio of the industry in the latest month and the average static P / E ratio of comparable listed companies published by China Securities Index Co., Ltd, However, there is still a risk that the decline of the issuer's share price will bring losses to investors in the future. The issuer and the recommendation institution (lead underwriter) remind investors to pay attention to investment risks, carefully study and judge the rationality of issuance pricing, and make investment decisions rationally.
2. Investors are reminded to pay attention to the difference between the issue price and the quotation of offline investors. For the quotation of offline investors, please refer to China Securities Journal, Shanghai Securities News, securities times, Securities Daily, economic reference website and cninfo (www.cn. Info. Com. CN) published on the same day Announcement on IPO of Shanghai Hongying Intelligent Technology Co., Ltd.
3. The pricing of this offering follows the market-oriented pricing principle. In the preliminary inquiry stage, offline investors quote based on the real subscription intention. The issuer and the sponsor (lead underwriter) comprehensively consider the issuer's fundamentals, industry, valuation level of comparable companies, market conditions, demand for raised funds, underwriting risk and other factors according to the preliminary inquiry results, Negotiate and determine the issue price. Any investor who participates in the subscription shall be deemed to have accepted the issue price; If there is any objection to the pricing method and price of the offering, it is recommended not to participate in this offering. 4. This offering may have the risk of falling below the offering price after listing. Investors should pay full attention to the risk factors contained in the pricing marketization, know that the stock may fall below the issue price after listing, effectively improve the risk awareness, strengthen the value investment concept, and avoid blind speculation. Regulators, issuers and recommendation institutions (lead underwriters) can not guarantee that the stock will not fall below the issue price after listing.
(VI) the issuer plans to invest 605.3135 million yuan with the raised funds in the project. Based on the issuance price of 38.61 yuan / share and 18.36 million shares, the total amount of funds raised is expected to be 708.8796 million yuan. After deducting 103.5661 million yuan of issuance expenses (excluding value-added tax), the net amount of funds raised is expected to be 605.3135 million yuan. There is a risk that the net asset scale will increase significantly due to the acquisition of raised funds, which will have an important impact on the issuer's production and operation mode, operation management and risk control ability, financial status, profitability and long-term interests of shareholders.
(VII) for the subscription of this issuance, any investor can only choose offline or online way to apply for the subscription, and all investors participating in offline quotation, subscription and placement shall not participate in online subscription again; A single investor can only use one qualified account for subscription, and any subscription contrary to the above provisions is invalid. (VIII) after the end of this offering, it can only be publicly listed on the Shenzhen Stock Exchange after being approved by the Shenzhen Stock Exchange. If the approval is not obtained, the shares issued this time will not be listed, and the issuer will return them to the investors participating in the online subscription according to the issue price plus the bank deposit interest for the same period.
(IX) all shares of the issuer are tradable shares. For the limited sale period of shares before this offering, please refer to the prospectus for the relevant commitment and arrangement of the limited sale period. The above share restriction arrangement is a voluntary commitment made by relevant shareholders in accordance with relevant laws and regulations based on the governance needs of the issuer and the stability of operation and management.
(x) investors are invited to pay attention to risks. In case of the following circumstances, the issuer and the recommendation institution (lead underwriter) will negotiate and take measures to suspend the issuance:
1. After offline subscription, the actual total subscription amount of the placing object with effective quotation is less than the initial offline issuance quantity; 2. If the online subscription is insufficient, the offline investors fail to subscribe in full after the insufficient part is dialed back to the offline;
3. The total number of shares subscribed by offline and online investors is less than 70% of the number of this public offering;
4. The issuer's major post meeting events in the issuance process affect the issuance;
5. The CSRC conducts in-process and post event supervision over the issuance and underwriting process. If it is found that there are suspected violations of laws and regulations or abnormal circumstances, it shall order the issuer and underwriter to suspend or suspend the issuance, and investigate and deal with relevant matters. In case of the above circumstances, the issuer and the recommendation institution (lead underwriter) will suspend the issuance and timely announce the reasons for the suspension and subsequent arrangements. If the issuance is suspended after the payment is completed, the funds paid by investors will be returned according to the original path through the system of China depository and Clearing Corporation on the next day of the payment deadline. After the suspension of the issuance, within the validity period of the issuance approval document, the issuer and the recommendation institution (lead underwriter) can choose the opportunity to restart the issuance after filing with the CSRC.
（11） The issuer and the sponsor (lead underwriter) solemnly remind investors that investors should adhere to the concept of value investment and participate in the subscription of this issuance. We hope that investors who recognize the investment value of the issuer and hope to share the growth achievements of the issuer will participate in the subscription.
（12） This special announcement on investment risk does not guarantee to reveal all the investment risks of this issuance. It is recommended that investors fully understand the characteristics and risks of the securities market, rationally evaluate their own risk tolerance, and make an independent decision on whether to participate in the subscription of this issuance according to their own economic strength and investment experience. Shanghai Yinghong Technology Co., Ltd. initial public announcement of Yinghong Technology Co., Ltd. (main body: February 30, 2022, no seal of Shanghai Yinghong Technology Co., Ltd.):
Issuer: Shanghai Hongying Intelligent Technology Co., Ltd. (no text on this page, which is the investment wind of initial public offering of Shanghai Hongying Intelligent Technology Co., Ltd.)
