Huarong Chemical Co., Ltd
Initial public offering and listing on GEM
Announcement on online subscription and winning rate
Sponsor (lead underwriter): Huatai United Securities Co., Ltd
The application of Huarong Chemical Co., Ltd. (hereinafter referred to as "Huarong chemical", "issuer" or "company") for initial public offering of 120 million RMB common shares (A shares) (hereinafter referred to as "this 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 been approved to register by China Securities Regulatory Commission (hereinafter referred to as "CSRC") (zjxk [2022] No. 252).
The issuer and the sponsor (lead underwriter) Huatai United Securities Co., Ltd. (hereinafter referred to as "Huatai United Securities", "sponsor (lead underwriter)" or "lead underwriter") negotiated and determined that the number of shares to be issued this time is 120000000, and the issue price is 8.05 yuan / share.
The issuing price of this offering shall not exceed the median and weighted average of offline investors' quotation after excluding the highest quotation, as well as the securities investment fund, national social security fund, basic old-age insurance fund established through public offering after excluding the highest quotation The enterprise annuity fund established in accordance with the measures for the administration of enterprise annuity fund and the insurance fund quotation median and weighted average in accordance with the measures for the administration of the use of insurance funds, etc., whichever is lower, so the relevant subsidiaries of the sponsor need not participate in the strategic placement. This offering does not arrange strategic placement to other external investors. According to the issuing price, the relevant subsidiaries of the sponsor will not participate in the strategic placement. Finally, this issuance will not be targeted to strategic investors. The difference between the initial strategic placement and the final strategic placement was 6 million shares, which were transferred back to offline issuance.
This issuance is finally carried out by the combination of offline inquiry and 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 market value in Shenzhen market (hereinafter referred to as "online issuance").
After the strategic placement callback and before the launch of the online and offline callback mechanism, the number of offline shares issued this time was 97200000, accounting for 81.00% of the number of shares issued this time, and the number of online shares was 22800000, accounting for 19.00% of the number of shares issued this time. The total number of final offline and online issuance is 120000000 shares. The final number of online and offline issuance will be determined according to the online and offline callback.
On March 10, 2022 (t day), the issuer initially issued 22800000 A shares of "Huarong chemical" by using the online pricing of the trading system of Shenzhen Stock Exchange.
Investors are kindly requested to focus on the issuance process, payment and other links of this issuance, and timely fulfill their payment obligations on March 14, 2022 (T + 2):
1. The offline allocated investors shall, according to the announcement on the results of offline preliminary placement of initial public offering of shares by Huarong Chemical Co., Ltd. and listing on the gem, pay the subscription funds for new shares in time and in full before 16:00 on March 14 (T + 2) 2022 according to the final issuance price and preliminary placement quantity.
The subscription funds shall be paid in full within the specified time. If the subscription funds are not paid in full within the specified time or as required, all the new shares allocated to the placing object shall be invalid. If there are more than one new shares to be issued on the same day, all of them will be invalid. If different placing objects share bank accounts, if the subscription funds are insufficient, all the new shares allocated to the placing objects sharing bank accounts will be invalid. Offline investors are allocated multiple new shares on the same day. Please pay for each new share separately.
After winning the lottery of new shares, online investors shall fulfill the obligation of capital settlement in accordance with the announcement on the results of initial public offering and online lottery of shares listed on the gem of Huarong Chemical Co., Ltd., so as to ensure that their capital account will have sufficient new share subscription funds on March 14 (t + 2) 2022, The transfer of investors' funds shall comply with the relevant provisions of the securities company where the investors are located.
The shares that offline and online investors give up to subscribe for are underwritten by the sponsor (lead underwriter).
2. Among the stocks issued this time, the stocks issued online have no circulation restrictions and limited sales period arrangements, and can be circulated from the date when the stocks issued this time are listed 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, 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.
3. When the total number of shares paid and subscribed by offline and online investors is less than 70% of the number of public offerings after deducting the final strategic placement, the issuer and the sponsor (lead underwriter) will suspend the issuance of new shares and disclose the reasons for the suspension and subsequent arrangements.
4. If the offline investor who provides effective quotation fails to participate in the subscription or the offline investor who obtains the preliminary placement fails 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 for three times in a row within 12 months, they 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. The number of times of giving up subscription shall be calculated according to the number of times of investors actually giving up subscription of new shares, depositary receipts, convertible corporate bonds and exchangeable corporate bonds.
1、 Online subscription
According to the data provided by Shenzhen Stock Exchange, the lead underwriter has made statistics on the effective subscription of this online offering. The number of effective subscription households of this online pricing offering is 12899661 and the number of effective subscription shares is 161515320500. The total number of allotment numbers is 323030641. The starting number of allotment number is 000000 Ping An Bank Co.Ltd(000001) and the ending number is 000323030641.
2、 Implementation of callback mechanism, issuance structure and success rate of online issuance
According to the callback mechanism announced in the announcement of Huarong Chemical Co., Ltd. initial public offering and listing on the gem, since the initial effective online subscription multiple is 708400529 times, more than 100 times, the issuer and the lead underwriter decided to start the callback mechanism to adjust the scale of offline and online issuance, After deducting the final strategic placement, 20.00% (rounded up to an integral multiple of 500 shares, i.e. 24000000 shares) of the number of shares issued this time will be transferred back from offline to online.
After the callback mechanism was launched, the final number of shares issued offline was 73200000, accounting for 61.00% of the number of shares issued this time after deducting the final strategic placement, and the final number of shares issued online was 46800000, accounting for 39.00% of the number of shares issued this time after deducting the final strategic placement. After the call back, the winning rate of this online issuance is Wenzhou Yihua Connector Co.Ltd(002897) 55794%, and the effective subscription multiple is 345118206 times. 3、 Online lottery
The issuer and the lead underwriter agreed to conduct lottery in Room 202, building 203, Shangbu Industrial Zone, Hongli West Road, Futian District, Shenzhen on the morning of March 11, 2022 (T + 1), and will publish the online lottery results in China Securities News, securities times, Shanghai Securities News and Securities Daily on March 14, 2022 (T + 2).
The initial public announcement of Huarong Securities Co., Ltd. and the underwriter of Huarong Securities Co., Ltd. (the main page of the online public announcement of Huarong Securities Co., Ltd. in 2023): there is no seal on the main page of Huarong Securities Co., Ltd. (the main page of the online public announcement of Huarong securities Co., Ltd.)
Huarong Chemical Co., Ltd. (this page has no text, which is the seal page of the announcement on the online subscription and winning rate of Huarong Chemical Co., Ltd. in its initial public offering and listing on the GEM)
Huatai United Securities Co., Ltd
