Yidong Electronic Technology Co., Ltd
Prompt announcement of initial public offering and listing on GEM
Sponsor (lead underwriter): China Merchants Securities Co.Ltd(600999)
The application of Yidong Electronic Technology Co., Ltd. (hereinafter referred to as “the issuer”, “Yidong Electronics” or “the company”) for initial public offering and listing on the gem has been examined and approved by the members of the GEM Listing Committee of Shenzhen Stock Exchange (hereinafter referred to as “Shenzhen Stock Exchange”), It has obtained the registration decision of China Securities Regulatory Commission (zjxk [2021] No. 3938). The letter of intent of Yidong Electronic Technology Co., Ltd. for initial public offering and listing on the gem and its annexes are disclosed on the website designated by the China Securities Regulatory Commission (cninfo, www.cn. Info. Com.. CN; CSI, www.cs. Com.. CN; China Securities, www.cn. Stock. Com; securities times, www.stcn. Com; Securities Daily, www.zqrb. CN; economic reference, www.jjckb. CN; China financial news, www.financialnews. Com.. CN.), It shall be kept at the domicile of the issuer, Shenzhen Stock Exchange and the recommendation institution (lead underwriter) China Merchants Securities Co.Ltd(600999) (hereinafter referred to as ” China Merchants Securities Co.Ltd(600999) ” or “recommendation institution (lead underwriter)”) for public inspection.
Investors are kindly requested to focus on the issuance process, online and offline subscription and payment, disposal of share abandonment, etc., and carefully read the preliminary inquiry and promotion announcement of Yidong Electronic Technology Co., Ltd. on initial public offering and listing on GEM published today (hereinafter referred to as the “preliminary inquiry and promotion announcement”). The details are as follows:
1. The offline issuance and Subscription Date and the online subscription date are the same as January 12, 2022 (t day), in which the offline subscription time is 9:30-15:00, and the online subscription time is 9:15-11:30 and 13:00-15:00. Investors do not need to pay subscription funds when making online and offline subscription on January 12, 2022 (t day).
2. All offline investors who intend to participate in this preliminary inquiry and meet the conditions of relevant investors must register and submit verification materials before 12:00 on January 6 (T-4) 2022 according to relevant requirements. When registering and submitting verification materials, please log in to the offline Investor Service System of China Merchants Securities Co.Ltd(600999) IPO and selected layer project（ https://issue.cmschina.com./ipos ）。
Before the inquiry, offline investors shall submit the pricing basis and the suggested price or price range given in the internal research report through the offline issuance electronic platform of Shenzhen Stock Exchange. Offline investors who fail to submit the pricing basis and suggested price or price range before the inquiry shall not participate in the inquiry.
Offline investors shall quote according to the recommended price or price range given in the internal research report. In principle, they shall not exceed the recommended price range in the research report.
3. The issuance adopts directional placement to strategic investors (hereinafter referred to as “strategic placement”) Offline inquiry placement to qualified investors (hereinafter referred to as “offline issuance”) and online pricing issuance to social public investors holding non restricted A-Shares or non restricted depositary receipts in Shenzhen market (hereinafter referred to as “online issuance”).
The strategic placement of this offering consists of the special asset management plan established by the issuer’s senior management and core employees participating in this strategic placement and the follow-up investment (contingent) of relevant subsidiaries of the sponsor, If the determined issue price exceeds the median and weighted average of offline investors’ quotations 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”) and 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, The relevant subsidiaries of the sponsor (lead underwriter) of this offering will participate in the strategic placement of this offering in accordance with relevant regulations. The issuer and the sponsor (lead underwriter) will disclose the total number of shares allocated to the relevant subsidiaries of the sponsor participating in the placement, the number of subscriptions, the proportion in the number of shares issued this time and the holding period in the announcement on the initial public offering of shares by Yidong Electronic Technology Co., Ltd. and listing on the gem (hereinafter referred to as the “issuance announcement”). The follow-up investor is China Merchants Securities Co.Ltd(600999) Investment Co., Ltd. (hereinafter referred to as “investment promotion and investment”).
4. The issuer and the recommendation institution (lead underwriter) will directly determine the issuance price through offline preliminary inquiry, and offline cumulative bidding inquiry will not be conducted.
5. Offline issuance objects: the offline issuance objects are securities companies, fund management companies, trust companies, finance companies, insurance companies, qualified overseas institutional investors and qualified private fund managers and other professional institutional investors registered with the China Securities Association.
6. Preliminary inquiry: the preliminary inquiry time of this issuance is 9:30-15:00 on January 7, 2022 (T-3). Within the above time, qualified offline investors can fill in and submit the subscription price and the proposed subscription quantity through the offline issuance electronic platform of Shenzhen Stock Exchange.
Investors participating in the offline inquiry of gem can fill in different quotations for multiple placing objects under their management. Each offline investor can fill in up to 3 quotations, and the highest quotation shall not be higher than 120% of the lowest quotation. The quotation of offline investors and their managed placing objects shall include the price per share and the number of shares to be purchased corresponding to the price. There can only be one quotation for the same placing object. Once the relevant declaration is submitted, it shall not be revoked in full. If the quotation needs to be adjusted due to special reasons, the quotation decision-making procedure shall be performed again. The logical calculation basis of the price change reason and the price change range shall be filled in on the offline issuance electronic platform, as well as whether the previous quotation has insufficient pricing basis and incomplete quotation decision-making procedure, and the relevant materials shall be archived for future reference.
The minimum change unit of the declared price of offline investors is 0.01 yuan. In the preliminary inquiry stage, the minimum number of offline placement objects to be purchased is set as 1 million shares, and the minimum change unit of the number of offline placement objects to be purchased is set as 100000 shares, that is, the part where the number of offline placement objects designated by offline investors exceeds 1 million shares must be an integral multiple of 100000 shares, The proposed subscription amount of each placing object shall not exceed 18 million shares.
The maximum number of shares subscribed by each placing object in this offline issuance is 18 million shares, accounting for about 51.80% of the initial offline issuance. Offline investors and their managed placing objects shall strictly comply with the regulatory requirements of the industry, strengthen risk control and compliance management, and prudently and reasonably determine the subscription price and quantity. When participating in the preliminary inquiry, please pay special attention to whether the subscription amount corresponding to the declared price and the subscription quantity exceeds the asset scale or capital scale of December 30, 2021 (T-8) provided to the sponsor (lead underwriter) and reported on the offline issuance electronic platform of Shenzhen Stock Exchange. If the recommendation institution (lead underwriter) finds that the placing object does not comply with the industrial regulatory requirements and applies for purchase beyond the corresponding asset scale or capital scale in the asset certification materials submitted to the recommendation institution (lead underwriter), the subscription of the placing object is invalid.
Investors participating in the offline inquiry of Yidong electronic shall pass the asset proof materials through the offline Investor Service System of China Merchants Securities Co.Ltd(600999) IPO and selected layer project before 12:00 on January 6 (T-4) 2022（ https://issue.cmschina.com./ipos ）Submit to the sponsor (lead underwriter). If the investor refuses to cooperate in the verification, fails to submit relevant materials completely, or the materials submitted are not enough to exclude its participation in the offline issuance prohibited by laws, regulations and normative documents, the issuer and the recommendation institution (lead underwriter) will refuse its participation in the offline issuance, treat its quotation as an invalid quotation, or refuse the placement, It shall be disclosed in the issuance announcement. If offline investors participate in the offline issuance of new shares in violation of regulations, they shall bear all the responsibilities arising therefrom.
Special tip 1: in order to promote the prudent quotation of offline investors, Shenzhen Stock Exchange has added the pricing basis verification function on the offline issuance electronic platform. Offline investors are required to operate according to the following requirements:
Offline investors need to display “the preliminary inquiry of Yidong electronics has been started (to be started)” on the offline issuance electronic platform page of Shenzhen Stock Exchange and before 9:30 a.m. on the day of preliminary inquiry (January 7, 2022) (T-3)（ https://eipo.szse.cn. ）Submit the pricing basis and fill in the suggested price or price range. Offline investors who fail to submit the pricing basis and suggested price or price range before the inquiry shall not participate in the inquiry.
Offline investors shall quote according to the recommended price or price range given in the internal research report. In principle, they shall not exceed the recommended price range in the research report.
Special tip 2: offline investors must truthfully submit the proof materials of asset scale or capital scale, and strictly comply with the industrial regulatory requirements. The subscription amount shall not exceed the proof materials of asset scale of the placement object submitted to the sponsor (lead underwriter) and the corresponding asset scale or capital scale in the summary of asset scale of the placement object, Ensure that the amount of asset scale filled in the summary of asset scale of placing object is consistent with the amount in the asset scale certification materials submitted. The data of asset scale or capital scale shall be subject to the fifth trading day before the preliminary inquiry date (December 30, 2021, T-8).
Once an offline investor makes a quotation, it shall be deemed as a commitment that the asset scale certification materials uploaded by it in the offline Investor Service System of China Merchants Securities Co.Ltd(600999) IPO and selected layer project and the corresponding asset scale or capital scale in the summary of asset scale of placing object filled in are consistent with the data submitted on the offline issuance electronic platform of Shenzhen Stock Exchange; In case of inconsistency, the consequences shall be borne by offline investors.
Special tip 3: in order to promote the prudent quotation of offline investors and facilitate the verification of the asset scale of offline investors on the gem. Offline investors are required to operate according to the following requirements:
During the preliminary inquiry period, the investor’s quotation shall be issued on the electronic platform offline of Shenzhen Stock Exchange（ https://eipo.szse.cn. ）Truthfully fill in the asset scale or capital scale as of the five trading days (December 30, 2021) (T-8) before the preliminary inquiry. The asset scale or capital scale filled in by the investor shall be consistent with the amount in the asset scale or capital scale certification materials submitted to the sponsor (lead underwriter)
Investors shall strictly comply with the regulatory requirements of the industry, reasonably determine the purchase scale, and the purchase amount shall not exceed the corresponding asset scale or capital scale in the asset certification materials submitted to the sponsor (lead underwriter).
7. Provisions on offline rejection ratio: after the preliminary inquiry, the issuer and the recommendation institution (lead underwriter) shall, according to the preliminary inquiry results after excluding invalid quotations, quote all qualified placing objects from high to low according to the proposed purchase price, and from small to large according to the proposed purchase quantity of the placing objects at the same proposed purchase price For the same proposed purchase price, the same proposed purchase quantity, the same proposed purchase price, the same proposed purchase quantity, the same purchase time, the order from back to front according to the entrustment serial number automatically generated by the offline issuance electronic platform of Shenzhen Stock Exchange, excluding the quotation of the distribution object with the highest quotation, The total amount to be purchased excluding the quotation is 1% of the total amount to be purchased after excluding the invalid quotation. When the lowest price in the highest declared price to be excluded is the same as the determined issue price, the Declaration on the price will not be excluded. The excluded part shall not participate in offline subscription. After excluding the highest part of the quotation, the issuer and the recommendation institution (lead underwriter) consider the remaining quotation and the number of proposed subscriptions, effective subscription multiples, the issuer’s industry, market conditions, the valuation level of Listed Companies in the same industry, the demand for raised funds and underwriting risks, and focus on public funds, social security funds, pensions, enterprise annuity funds The lower of the median quotation and weighted average of the placement objects such as insurance funds and qualified foreign institutional investor funds, carefully and reasonably determine the issuance price, final issuance quantity, effective quotation investors and effective planned subscription quantity. The number of effective offline investors determined by the issuer and the recommendation institution (lead underwriter) in accordance with the above principles shall not be less than 10.
Effective quotation refers to the quotation declared by offline investors that is not lower than the issuance price determined by the issuer and the recommendation institution (lead underwriter), which is not excluded as the highest quotation, and meets other conditions determined and announced in advance by the issuer and the recommendation institution (lead underwriter). Offline investors who submit valid quotations during the preliminary inquiry can and must participate in offline subscription. The sponsor (lead underwriter) has hired Guangdong Huashang law firm to witness the whole process of the issuance and underwriting, and will express clear opinions on the compliance and effectiveness of offline investor qualification, inquiry, pricing, placement, fund allocation, information disclosure and other relevant situations.
8. Restriction period arrangement: among the stocks issued this time, the stocks issued online have no circulation restrictions and restriction period arrangement, and can be circulated from the date of listing of the stocks issued this time on the Shenzhen Stock Exchange.
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, which shall be calculated from the date of listing and trading of the issued shares on the Shenzhen Stock Exchange.
When offline investors participate in the preliminary inquiry and quotation and offline subscription, they do not need to fill in the arrangement of the sales restriction period for the placing objects under their management. Once the quotation is made, it is deemed to accept the arrangement of the online sales restriction period disclosed in this announcement.
The restricted period of shares allocated to the issuer’s senior managers and core employees participating in the special asset management plan established by the strategic placement is 12 months, which shall be calculated from the date of listing of the shares publicly issued on the Shenzhen Stock Exchange.
China Merchants Securities Co.Ltd(600999) Investment Co., Ltd. is restricted to 24 months (such as the issue price)
