Current investment tips:
Last week, the full raising rate of bidding projects decreased month on month, and the discount rate increased month on month. On the listing announcement day, there were 6 fixed increase projects last week, with an increase of 1 month on month, and the total fund-raising amount was 6.025 billion yuan, a decrease of 16.64% month on month. Among them, four are bidding projects, but only one is fully raised. The full raising rate decreases by 55.00pct to 25.00% month on month, and the fund-raising rate decreases by 32.97pct to 65.44% month on month. Last week, the listing announced that the average discount of the issue price of four bidding projects relative to the benchmark price was 11.88%, up 11.67pct month on month The issue price of Maccura Biotechnology Co.Ltd(300463) , Guangdong Biolight Meditech Co.Ltd(300246) is less than 10% off the benchmark price, and the items without bidding are priced at the base price of 20%. From the perspective of the discount rate of the issue price relative to the closing price on the issue date (i.e. the issue safety cushion), the average discount rate of the issue price of the four bidding projects relative to the closing price on the issue date was 13.24%, up 2.61 PCT month on month The average discount rate of the issue price of the two pricing items relative to the benchmark price is 20.00%, and the average discount rate of the issue price relative to the closing price on the issue date is 46.90%.
The ban on fixed growth projects will be lifted this week, with nearly 80% floating profits. This week, 14 fixed increase projects will be lifted for the first time, including 11 floating profits, accounting for 78.57%, a decrease of 21.43 PCT month on month Based on the closing price on February 18, the lifting funds totaled 39.444 billion yuan, an increase of 290.84% month on month. The average value of floating absolute rate of return and floating excess rate of return of 12 bidding projects were 19.92% and 21.57% respectively.
Last week, the number of approved projects increased month on month, and the average upside down range decreased month on month. Last week, the development and Examination Commission approved 6 cases (including 5 cases of bidding), an increase of 5 cases month on month; The CSRC approved 5 cases (including 3 bidding cases), with an increase of 2 cases month on month. There are 126 projects to be issued approved by the CSRC and the CSRC, including 6 projects with upside down issue price / reserve price, which are flat month on month. The proportion of upside down companies decreased by 0.16pct to 4.76% month on month, and the average upside down range decreased by 2.32pct to 10.97% month on month.
Mubang high tech plans to merge into the photovoltaic field and Nyocor Co.Ltd(600821) plans to raise nearly 4 billion yuan for the construction of overweight photovoltaic power station project. Last week, three fixed increase projects of three companies were added, with a month on month decrease of 10; The pre disclosed fund-raising amount was 7.009 billion yuan, a decrease of 33.23% month on month. Mubang high tech plans to raise no more than 2.415 billion yuan for the acquisition of 100% equity project of hao’an energy, 10000 t / a intelligent silicon purification and recycling project and supplementary working capital project. After the completion of the transaction, the target company haoan energy will become a wholly-owned subsidiary of the listed company, and the photovoltaic silicon wafer and silicon rod business will be injected into the listed company, which will bring new profit growth points to the listed company. Nyocor Co.Ltd(600821) it is proposed to raise no more than 3.994 billion for the construction of six photovoltaic power station projects such as Guigang 200mwp agricultural light storage complementary project, and supplement working capital. After the implementation of the raised investment project, the installed capacity of the company’s new energy power station will be further increased, which will help to improve the company’s competitive position in the new energy power station operation market and enhance the company’s profitability and brand value.
Angel Yeast Co.Ltd(600298) the proposed fund-raising amount was reduced by nearly 30%, and China Greatwall Securities Co.Ltd(002939) two objects withdrew from the subscription. Last week, there were five fixed increase plans revised by five companies, which was flat month on month. China Greatwall Securities Co.Ltd(002939) (project financing), Farasis Energy (Gan Zhou) Co.Ltd(688567) (project financing) and Angel Yeast Co.Ltd(600298) (supplementary working capital projects) reduced the raised funds by 15.36%, 13.08% and 29.50% to 8.464 billion yuan, 4.52 billion yuan and 1.41 billion yuan respectively. Among them, two original issuers of China Greatwall Securities Co.Ltd(002939) (project financing), including Shenzhen xinjiangnan, withdrew from the subscription.
The Staidson(Beijing) Biopharmaceuticals Co.Ltd(300204) approval expires, and Huarui Electrical Appliance Co.Ltd(300626) , Changyuan Technology Group Ltd(600525) actively terminate the fixed increase. Last week, four fixed increase plans of four companies were stopped, with an increase of four month on month. Staidson(Beijing) Biopharmaceuticals Co.Ltd(300204) (project financing) fails to complete the issue of shares to specific objects within the validity period of the approval document, and the approval expires automatically. Huarui Electrical Appliance Co.Ltd(300626) (supplementary working capital), Changyuan Technology Group Ltd(600525) (project financing). In view of the changes in the capital market environment and financing opportunities, and taking into account the company’s operation, the company’s development strategy and many other factors, it is decided to terminate this fixed increase.
Risk tips: the review progress of fixed increase is less than expected, the stock price fluctuation in the secondary market, the adjustment of issuance system, etc.
