Special announcement on investment risk of initial public offering and listing on GEM
Sponsor (lead underwriter): China Greatwall Securities Co.Ltd(002939)
hot tip
The application of Guangzhou jusailong Engineering Plastics Co., Ltd. (hereinafter referred to as "jusailong", "issuer" or "company") for initial public offering and listing on the gem has been examined and approved by the GEM Listing Committee of Shenzhen Stock Exchange (hereinafter referred to as "Shenzhen Stock Exchange"), It has also been registered by the China Securities Regulatory Commission (hereinafter referred to as the "CSRC") in Document No. [2022] 299.
The shares issued this time are planned to be listed on the gem of Shenzhen Stock Exchange. This issuance adopts the method of online subscription according to the market value and direct pricing issuance to investors holding the market value of non restricted A-Shares and non restricted depositary receipts in Shenzhen market (hereinafter referred to as "online issuance"), all of which are new shares without transferring old shares. The total number of shares in this public offering is 11952152, of which 11952000 are issued online, accounting for 999987% of the total. The remaining 152 shares that do not reach the online subscription unit of 500 new shares in Shenzhen stock market are underwritten by the sponsor (lead underwriter).
The sponsor (lead underwriter) of this offering is China Greatwall Securities Co.Ltd(002939) (hereinafter referred to as " China Greatwall Securities Co.Ltd(002939) " and "sponsor (lead underwriter)"). This offering will be implemented through the trading system of Shenzhen Stock Exchange on March 2, 2022 (t day). The issuer and the recommendation institution (lead underwriter) specially draw the attention of investors to the following contents:
1. Investors are kindly requested to focus on the issuance process, subscription, payment and disposal of share abandonment. The details are as follows:
(1) This offering adopts direct pricing and is issued online to investors who hold the market value of non restricted A-Shares and non restricted depositary receipts in Shenzhen market, without offline inquiry and placement.
(2) The issue price is 30.00 yuan / share. The price corresponds to the issuer's diluted P / E ratio of net profit before and after deducting non recurring profits and losses in 2020, which is 19.13 times, which does not exceed the static average p / E ratio of the industry in the latest month published by China Securities Index Co., Ltd. (as of February 25, 2022 (T-3)).
(3) Based on this price, the investor applies for the purchase through the trading system of Shenzhen Stock Exchange on t day (March 2, 2022) and online by market value. There is no need to pay the subscription fund at the time of subscription. The online subscription time is 9:15-11:30 and 13:00-15:00.
(4) Online investors shall independently express their purchase intention and shall not fully entrust securities companies to purchase new shares on their behalf.
(5) After winning the lottery in the subscription of new shares, investors shall fulfill their payment obligations in accordance with the announcement on the results of initial public offering of shares by Guangzhou jusailong Engineering Plastics Co., Ltd. and online pricing and issuance of lottery on the gem announced on March 4 (T + 2) 2022. At the end of T + 2 day, the successful investor shall ensure that his capital account has sufficient funds for the subscription of new shares, and the insufficient part shall be deemed to give up the subscription. The consequences and relevant legal liabilities arising therefrom shall be borne by the investor. The transfer of investors' funds shall comply with the relevant provisions of the securities company where they are located.
The shares abandoned by the winning investors and the shares invalid handled by China Securities Depository and Clearing Corporation Shenzhen Branch (hereinafter referred to as "CSDCC Shenzhen Branch") shall be underwritten by the sponsor (lead underwriter). When the number of shares subscribed by online investors is less than 70% of the number of this public offering, the issuer and the sponsor (lead underwriter) will suspend the offering and disclose the reasons for the suspension and subsequent arrangements.
(6) If an online investor fails to pay in full after winning the lottery three times in a row within 12 months, it shall not participate in the online subscription of new shares, depositary receipts, convertible corporate bonds and exchangeable corporate bonds within 6 months (calculated as 180 natural days, including the next day) from the next day of the settlement participant's latest declaration of abandonment of subscription.
2. Any decision or opinion made by China Securities Regulatory Commission, Shenzhen Stock Exchange and other government departments on this issuance does not indicate that they make 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.
3. After this issuance, it is planned to be listed on the gem, which has high investment risk. GEM companies have the characteristics of unstable performance, high operation risk and high delisting risk, and investors are facing greater market risk. Investors should fully understand the investment risks of the gem and the risk factors disclosed by the issuer, and make investment decisions prudently. There are some differences between the GEM market and the main board market in terms of systems and rules, including but not limited to the issuance and listing conditions, information disclosure rules, delisting system design, etc. if these differences are not recognized in place, they may cause investment risks to investors.
4. Investors who intend to participate in this offering and subscription must carefully read the information disclosed on the website designated by the CSRC on February 28, 2022 (T-2) (http://www.cn.info.com.cn; www.cs.com.cn; www.cn.stock.com; www.stcn.com; www.zqrb.cn) 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.
5. The shares issued online this time have no circulation restrictions and locking arrangements, and will be circulated from the date when the shares issued this time are listed 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.
For the limited sale period of shares before this offering, see the prospectus for the relevant commitment and arrangement of the restricted 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 needs of corporate governance and the stability of operation and management.
6. The issuer and the recommendation institution (lead underwriter) comprehensively consider the issuer's industry, market conditions, valuation level of Listed Companies in the same industry, demand for raised funds, underwriting risk and other factors, and negotiate to determine the issuance price of 30.00 yuan / share. 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.
The issue price is 30.00 yuan / share, and the price earnings ratio corresponding to this price is:
(1) 13.96 times (earnings per share is calculated by dividing the net profit attributable to shareholders of the parent company before deducting non recurring profits and losses audited by an accounting firm in accordance with Chinese accounting standards in 2020 by the total share capital before this issuance);
(2) 14.34 times (earnings per share is calculated by dividing the net profit attributable to shareholders of the parent company after deducting non recurring profits and losses audited by an accounting firm in accordance with Chinese accounting standards in 2020 by the total share capital before the issuance);
(3) 18.62 times (earnings per share is calculated by dividing the net profit attributable to shareholders of the parent company before deducting non recurring profits and losses audited by an accounting firm in accordance with Chinese accounting standards in 2020 by the total share capital after this issuance);
(4) 19.13 times (earnings per share is calculated by dividing the net profit attributable to shareholders of the parent company after deducting non recurring profits and losses audited by an accounting firm in 2020 in accordance with Chinese accounting standards by the total share capital after this issuance).
According to the financial data reviewed by the accounting firm of the issuer in 2021, the price earnings ratio corresponding to the issuance price of 30.00 yuan / share is:
(1) 16.77 times (earnings per share is calculated by dividing the net profit attributable to shareholders of the parent company before deducting non recurring profits and losses reviewed by the accounting firm in 2021 by the total share capital before this issuance);
(2) 18.97 times (earnings per share is calculated by dividing the net profit attributable to shareholders of the parent company after deducting non recurring profits and losses reviewed by the accounting firm in 2021 by the total share capital before the issuance);
(3) 22.36 times (earnings per share is calculated by dividing the net profit attributable to shareholders of the parent company before deducting non recurring profits and losses reviewed by the accounting firm in 2021 by the total share capital after this issuance);
(4) 25.30 times (earnings per share is calculated by dividing the net profit attributable to shareholders of the parent company after deducting non recurring profits and losses reviewed by the accounting firm in 2021 by the total share capital after this issuance).
According to the industry catalogue and classification principles of the industry classification guidelines for listed companies (revised in 2012) issued by China Securities Regulatory Commission in October 2012, the industry of the company is rubber and plastic products industry (C29). As of February 25, 2022 (T-3), the static average p / E ratio of the industry in the latest month released by China Securities Index Co., Ltd. is 25.55 times.
As of February 25, 2022 (T-3), the P / E ratio of listed companies whose main business is similar to that of the issuer is as follows:
20222021e
25th
(including the corresponding in 2020)
Securities abbreviation and certificate date) year before year deduction static market static market rolling P / E ratio (medium)
20 coupon codes (non front non back earnings ratio - earnings ratio - Certificate) predicted P / E ratio corresponding to EPS on trading day EPS EPS EPS deduction non front deduction non back deduction (yuan / share) (Times)
Average price (yuan / (yuan / (Times) (Times)
(yuan / share)
Shares)
Shanghai Pret Composites Co.Ltd(002324) 14.98 0.3902 0.3370 38.39 44.45 133.48 0.12 124.83
（ Shanghai Pret Composites Co.Ltd(002324) .SZ）
Qingdao Gon Technology Co.Ltd(002768) 26.17 2.6943 2.6743 9.71 9.79 12.72 2.58 10.14
（ Qingdao Gon Technology Co.Ltd(002768) .SZ）
Shandong Dawn Polymer Co.Ltd(002838) 14.92 2.0894 1.8900 7.14 7.89 29.03 0.69 21.62
（ Shandong Dawn Polymer Co.Ltd(002838) .SZ）
Shenzhen Wote Advanced Materials Co.Ltd(002886) 25.92 0.2857 0.2438 90.72 106.32 85.01 0.28 92.57
（ Shenzhen Wote Advanced Materials Co.Ltd(002886) .SZ）
Nanjing Julong Science & Technology Co.Ltd(300644) 18.59 0.5628 0.5104 33.03 36.42 48.42 / /
（ Nanjing Julong Science & Technology Co.Ltd(300644) .SZ）
Kingfa Sci.& Tech.Co.Ltd(600143) 11.07 1.7826 1.7235 6.21 6.42 11.11 0.99 11.18
（ Kingfa Sci.& Tech.Co.Ltd(600143) .SH）
Arithmetic mean 30.87 35.22 37.26/33.88
(excluding outliers) (excluding outliers)
Jucylon 1.6110 1.568418.62 19.13 / 1.186025.30
Data sources: wind, China Securities Index Co., Ltd. China Greatwall Securities Co.Ltd(002939) , as of February 25, 2022
Note: 1. EPS before / after deduction of non recurring profit and loss in 2020 = net profit attributable to parent company before / after deduction of non recurring profit and loss in 2020 / February 2022
25 day total share capital;
2. The P / E ratio of jusailong is calculated according to the issuance price of 30.00 yuan / share and the total share capital of 47.78 million shares after issuance;
3. EPS = consistent forecast data of EPS of comparable companies in 2021 disclosed by wind Nanjing Julong Science & Technology Co.Ltd(300644) none 2021
Consistent prediction data of EPS; Jucylon expects EPS in 2021 before deducting non recurring profits and losses in 2021
Calculation of net profit attributable to parent company, whichever is lower;
4. According to the 2021 annual performance forecast announced by Shanghai Pret Composites Co.Ltd(002324) announcement, the prices of main bulk raw materials and auxiliary materials in the upstream are on a large scale
The rise has led to a significant increase in its cost, which has a serious impact on its net profit. It is comparable to the same industry
