China Automotive Research Institute Co., Ltd
Announcement of IPO results and listing on GEM
Sponsor (lead underwriter): China Galaxy Securities Co.Ltd(601881)
The application for the initial public offering of RMB common shares (A shares) (hereinafter referred to as “this offering”) and listing on the gem by China Automotive Research automobile testing ground Co., Ltd. (hereinafter referred to as “China Automotive Research Institute” or “the issuer”) has been examined and approved by the GEM Listing Committee of Shenzhen Stock Exchange (hereinafter referred to as “Shenzhen Stock Exchange”), It has been approved for registration by China Securities Regulatory Commission (zjxk [2022] No. 51). The sponsor (lead underwriter) of this offering is China Galaxy Securities Co.Ltd(601881) (hereinafter referred to as “sponsor (lead underwriter)”). The issuer’s stock is abbreviated as “China Automobile Co., Ltd.” and the stock code is “301215”.
This issuance adopts directional placement to strategic investors (hereinafter referred to as “strategic placement”) Offline inquiry placement to qualified offline investors (hereinafter referred to as “offline issuance”) and online pricing issuance to social public investors holding non restricted A-Shares and non restricted depositary receipts in Shenzhen market (hereinafter referred to as “online issuance”).
The issuer negotiated with the recommendation institution (lead underwriter) and determined that the price of this issuance is 3.80 yuan / share, and the number of issued shares is 330.6 million, all of which are new shares without transfer of old shares. The issuing price of this offering shall not exceed the median and weighted average of the quotations of offline investors after excluding the highest quotation, as well as the Securities Investment Fund (hereinafter referred to as “public fund”), the National Social Security Fund (hereinafter referred to as “social security fund”), the basic old-age insurance fund (hereinafter referred to as “pension”) established through public offering after excluding the highest quotation The enterprise annuity fund (hereinafter referred to as “enterprise annuity fund”) established in accordance with the measures for the administration of enterprise annuity fund and the insurance fund (hereinafter referred to as “insurance fund”) in accordance with the measures for the administration of the use of insurance funds, whichever is lower. According to the issuing price, the relevant subsidiaries of the sponsor will not participate in the follow-up investment.
The initial strategic placement number of this issuance was 79.53 million shares, accounting for 24.06% of this issuance. According to the final issue price, the strategic placement of this issue is composed of other strategic investors. The final number of strategic placement shares of other strategic investors is 54999999 million shares, accounting for 16.64% of this issue. The final number of strategic allotments in this issuance is 54999999 shares, accounting for 16.64% of the number of shares issued this time. The difference between the initial strategic allotment and the final strategic allotment is 24530001 shares, which are transferred back to offline issuance.
After the callback of strategic placement and before the launch of online and offline callback mechanism, the initial number of offline issuance was 225386001 shares, accounting for 81.78% of the number issued after deducting the final number of strategic placement; The initial number of shares issued online was 50214000, accounting for 18.22% of the number issued after deducting the final strategic placement. According to the callback mechanism announced in the announcement on the initial public offering of shares and listing on the gem of China Automotive Research automotive testing ground Co., Ltd., the issuer and the sponsor (lead underwriter) decided to start the callback mechanism because the initial effective subscription multiple on the Internet was 457452313 times, higher than 100 times, 551205 million shares (after deducting the final strategic placement amount, 20% of the number of shares in this public offering will be rounded up to an integral multiple of 500 shares) will be transferred back from offline to online. After the call back, the final number of offline shares issued was 17026551 million, accounting for 61.78% of the total issued after deducting the final strategic placement; The final online issuance was 1053345 million shares, accounting for 38.22% of the total issuance after deducting the final strategic placement. After the callback mechanism was launched, the final winning rate of online issuance was 00458564037%, and the subscription multiple was 218072051 times.
The online and offline payment of this offering has been completed on February 28, 2022 (T + 2). The details are as follows:
1、 Statistics of new share subscription
According to the payment of the strategic investors and the data provided by Shenzhen Stock Exchange and Shenzhen Branch of China Securities Depository and Clearing Co., Ltd., the sponsor (lead underwriter) made statistics on the subscription of new shares issued online and offline in the strategic placement. The results are as follows:
(I) strategic placement
The issuing price of this offering does not exceed the lower of the median and weighted average of offline investors’ quotations after excluding the highest quotation, and the median and weighted average of public funds, social security funds, pensions, enterprise annuity funds and insurance funds after excluding the highest quotation. Therefore, relevant subsidiaries of the recommendation institution do not need to participate in follow-up investment. The strategic placement of this offering is composed of other strategic investors. According to the final issue price, the number of shares placed by other strategic investors is 54999999, accounting for 16.64% of the number of shares issued this time.
As of February 18, 2022 (T-4), strategic investors have paid their subscription funds in full and on time. According to the relevant provisions of the strategic placement agreement signed by the issuer and strategic investors, the strategic placement results of this issuance are determined as follows:
Serial no. Name of strategic investor number of allocated shares allocated amount sales restriction period (month) (10000 shares) (10000 yuan)
1 Chongqing Changan Automobile Company Limited(000625) 2,6052631 9,899999780 12
2 CETC Investment Holding Co., Ltd. 289473681099999984012
Total 5499999920899999620-
Note: the restricted sale period shall be calculated from the date when the shares of this public offering are listed on the Shenzhen Stock Exchange.
(II) online subscription of new shares
1. Number of shares subscribed by online investors (shares): 105098802
2. Subscription amount paid by online investors (yuan): 39937544760
3. Number of online investors giving up subscription (shares): 235698
4. Subscription amount abandoned by online investors (yuan): 89565240
(III) offline subscription of new shares
1. Number of shares subscribed by offline investors (shares): 170265501
2. Subscription amount paid by offline investors (yuan): 64700890380
3. Number of offline investors giving up subscription (shares): 0
4. Subscription amount abandoned by offline investors (yuan): 0
2、 Offline proportional restriction
The offline issuance part adopts the proportional sales restriction method, and the offline investors shall promise that the sales restriction period of 10% (rounded up) of the number of shares allocated to them is 6 months from the date of the issuer’s initial public offering and listing.
That is, among the shares allocated to each placing object, 90% of the shares are sold indefinitely and can be circulated from the date when the issued shares are listed and traded on the Shenzhen Stock Exchange; The sales restriction period of 10% of the shares is 6 months, and the sales restriction period starts from the date when the issued shares are listed and traded on the Shenzhen Stock Exchange.
When offline investors participate in the preliminary inquiry and quotation and offline purchase, they do not need to fill in the arrangement of the restricted sale period for the placing objects under their management. Once the quotation is made, it is deemed to accept the arrangement of the online restricted sale period disclosed in this announcement.
In this offering, the number of shares whose offline proportion is restricted for 6 months is 17030342 shares, accounting for 10.00% of the total offline issuance and 5.15% of the total public offering.
3、 Underwriting by the recommendation institution (lead underwriter)
The number of shares abandoned by online and offline investors is underwritten by the sponsor (lead underwriter). The number of shares underwritten by the sponsor (lead underwriter) is 235698 shares, with an underwritten amount of 89565240 yuan. The number of shares underwritten by the sponsor (lead underwriter) accounts for 0.07% of the total shares of this public offering.
On March 2, 2022 (T + 4), the recommendation institution (lead underwriter) will transfer the underwriting funds, war allocation funds and the funds raised by online and offline issuance to the issuer after deducting the recommendation and underwriting fee. The issuer will submit an application for share registration to China Securities Depository and Clearing Co., Ltd. Shenzhen Branch and register the underwritten shares to the securities account designated by the sponsor (lead underwriter).
4、 Contact information of sponsor (lead underwriter)
If investors have any questions about the issuance results announced in this announcement, please contact the sponsor (lead underwriter) of this issuance. The specific contact information is as follows:
Tel: 01080929028, 01080929029
Contact: Investment Bank Sales Headquarters
Issuer: sponsor (lead underwriter) of China Automotive Research automotive testing ground Co., Ltd.: China Galaxy Securities Co.Ltd(601881) March 2, 2022
