Dezhou United Petroleum Technology Co., Ltd
Announcement on initial public offering and listing on GEM
Sponsor (lead underwriter): Huarong Securities Co., Ltd
hot tip
According to the industry classification guidelines for Listed Companies formulated by the CSRC, the industry of Dezhou United Petroleum Technology Co., Ltd. is “special equipment manufacturing industry (C35)”, and the static average p / E ratio of “special equipment manufacturing industry (C35)” released by China Securities Index Co., Ltd. in the latest month is 43.00 times (as of December 29, 2021, T-4). The issuance price of 15.64 yuan / share corresponds to the lower diluted P / E ratio of the issuer’s net profit attributable to the parent before and after deducting non recurring profits and losses in 2020, which is 41.62 times, lower than the average static P / E ratio of “special equipment manufacturing (C35)” issued by China Securities Index Co., Ltd. on December 29, 2021; It is higher than the arithmetic average of the static P / E ratio of comparable companies after deducting non-profit in 2020, and the excess range is 3.38%.
The issuer and the recommendation institution (lead underwriter) remind investors to pay full attention to the risk factors contained in the marketization of pricing, know that the stock may fall below the issue price after listing, effectively improve the risk awareness, strengthen the value investment concept, avoid blind speculation, carefully study and judge the rationality of issue pricing, and make rational investment decisions. Dezhou United Petroleum Technology Co., Ltd. (hereinafter referred to as “Deshi”, “issuer” or “company”) in accordance with the measures for the administration of securities issuance and underwriting (CSRC order [No. 144], hereinafter referred to as the “administrative measures”) issued by China Securities Regulatory Commission (hereinafter referred to as “CSRC”) Measures for the administration of the registration of initial public offerings on the gem (for Trial Implementation) (CSRC order [No. 167]), special provisions on the issuance and underwriting of initial public offerings on the gem (CSRC announcement [2021] No. 21, hereinafter referred to as the “special provisions”), Shenzhen Stock Exchange (hereinafter referred to as “Shenzhen Stock Exchange”) promulgated the detailed rules for the implementation of the issuance and underwriting business of initial public offering on the gem of Shenzhen Stock Exchange (revised in 2021) (SZS [2021] No. 919, hereinafter referred to as “detailed rules for the implementation of initial public offering”) Detailed rules for the implementation of online IPO in Shenzhen market (SZS [2018] No. 279, hereinafter referred to as “detailed rules for the implementation of online IPO”) and detailed rules for the implementation of offline IPO in Shenzhen market (SZS [2020] No. 483, hereinafter referred to as “detailed rules for the implementation of offline IPO”), The China Securities Association (hereinafter referred to as the “Securities Association”) has promulgated the rules for the administration of offline investors in initial public offerings under the registration system (Zhong Zheng Xie Fa [2021] No. 212), the code for underwriting initial public offerings under the registration system (Zhong Zheng Xie Fa [2021] No. 213) Organize the implementation of the initial public offering of shares in accordance with the relevant provisions of the administrative rules for offline investors of initial public offering of shares (zsxf [2018] No. 142). Huarong Securities Co., Ltd. (hereinafter referred to as “Huarong securities”, “sponsor (lead underwriter)” or “lead underwriter”) serves as the sponsor (lead underwriter) of this offering.
The initial inquiry and offline subscription of this offering are conducted through the offline issuance electronic platform of Shenzhen Stock Exchange and the registration and settlement platform of China Securities Depository and Clearing Co., Ltd. Shenzhen Branch (hereinafter referred to as “China Clearing Shenzhen Branch”). Investors are invited to carefully read this announcement. For details of preliminary inquiry and offline subscription, please refer to the website of Shenzhen Stock Exchange (www.szse. CN.) The published rules for the implementation of offline issuance and other relevant provisions.
This offering is applicable to the special provisions on the issuance and underwriting of initial public offerings on GEM (CSRC announcement [2021] No. 21) issued by China Securities Regulatory Commission on September 18, 2021, and the implementation rules for the issuance and underwriting of initial public offerings on gem of Shenzhen Stock Exchange (revised in 2021) (SZS [2021] No. 919) issued by Shenzhen Stock Exchange The rules for the administration of offline investors in initial public offerings under the registration system (Zhong Zheng Xie Fa [2021] No. 212) and the code for underwriting initial public offerings under the registration system (Zhong Zheng Xie Fa [2021] No. 213) issued by the China Securities Association invite investors to pay attention to the changes of relevant regulations, pay attention to investment risks, and carefully study and judge the rationality of issue pricing, Make rational investment decisions.
Investors are kindly requested to focus on the issuance process, online and offline subscription, payment and disposal of share abandonment of this issuance. The specific contents are as follows:
1. After the preliminary inquiry, the issuer and the sponsor (lead underwriter) shall, in accordance with the exclusion rules specified in the announcement on preliminary inquiry and promotion of initial public offering of shares by Dezhou United Petroleum Technology Co., Ltd. and listing on the gem (hereinafter referred to as the “announcement on preliminary inquiry and promotion”), after excluding the preliminary inquiry results of investors who do not meet the requirements, Eliminate all placing objects whose proposed subscription price is higher than 19.72 yuan / share (excluding 19.72 yuan / share); The proposed subscription price is 19.72 yuan / share, and all placing objects whose subscription quantity is less than 12 million shares (excluding 12 million shares) are eliminated; The proposed subscription price is 19.72 yuan / share, the subscription quantity is equal to 12 million shares, and the subscription time is the same as 14:55:44:784 on December 29, 2021 (T-4), which will be removed from the placing objects automatically generated by the offline issuance electronic platform of Shenzhen Stock Exchange from the back to the front. A total of 110 placing objects were excluded in the above process, and the total number of shares to be purchased was 1206 million, accounting for 1.0013% of the total number of 120432.9 million shares to be purchased after excluding invalid quotations in this preliminary inquiry. The excluded part shall not participate in offline and online subscription. Please refer to the part marked “high price rejection” in the attached table “preliminary inquiry and quotation”.
2. According to the preliminary inquiry results, the issuer and the recommendation institution (lead underwriter) comprehensively consider the effective subscription multiple, the issuer’s industry, the issuer’s fundamentals, the valuation level of comparable listed companies, market conditions, the demand for raised funds and underwriting risks, and negotiate to determine that the issuance price is 15.64 yuan / share, and the offline issuance will not conduct cumulative bidding inquiry.
Investors are requested to make online and offline subscription at this price on January 5, 2022 (t day), and there is no need to pay the subscription fund at the time of subscription. The offline issuance and Subscription Date and online subscription date are the same as January 5, 2022 (t day), of 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.
3. The issuing price determined through negotiation between the issuer and the recommendation institution (lead underwriter) is 15.64 yuan / share, which does not exceed the median and weighted average of offline investors’ quotations after excluding the highest quotation, as well as the securities investment fund established through public offering after excluding the highest quotation (hereinafter referred to as “public fund”) National Social Security Fund (hereinafter referred to as “social security fund”), basic endowment insurance fund (hereinafter referred to as “pension”) 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.
4. The offering price is not higher than 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 sponsor need not participate in follow-up investment. This issuance does not arrange strategic placement to other external investors. Finally, this issuance does not make directional placement to strategic investors. The difference between the initial strategic placement and the final strategic placement of 1879635 shares will be transferred back to offline issuance.
Finally, this issuance is carried out by a combination of offline inquiry and 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”).
5. 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.
6. Online investors shall independently express their purchase intention and shall not fully entrust securities companies to purchase new shares on their behalf.
7. After the completion of online and offline subscription, the issuer and the sponsor (lead underwriter) will decide whether to start the callback mechanism on January 5, 2022 (t day) according to the online subscription, so as to adjust the scale of offline and online issuance. The launch of the call back mechanism will be determined according to the initial effective subscription multiple of online investors. 8. Offline investors shall, according to the announcement on offline preliminary placement results of initial public offering of shares by Dezhou United Petroleum Technology Co., Ltd. and listing on the gem (hereinafter referred to as the announcement on offline preliminary placement results), according to the finally determined issuance price and preliminary placement quantity before 16:00 on January 7 (t + 2) 2022, Pay the subscription funds for new shares in full and on time.
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 the above circumstances occur when multiple new shares are issued on the same day, all the placing objects are invalid. If different placing objects share bank accounts, if the subscription funds are insufficient, 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 subscription 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 listing on the gem of Dezhou United Petroleum Technology Co., Ltd. (hereinafter referred to as the announcement on the results of online lottery), so as to ensure that their capital account will have sufficient new share subscription funds on January 7 (T + 2) 2022, The insufficient part shall be deemed as abandoning the subscription, and the resulting consequences and relevant legal liabilities shall be borne by the investors themselves. The investor’s fund transfer shall comply with the relevant provisions of the securities company where the investor is located.
The shares abandoned by offline and online investors shall be underwritten by the sponsor (lead underwriter).
9. When the total number of shares subscribed by offline and online investors is less than 70% of the number of public offerings, the issuer and the sponsor (lead underwriter) will suspend the issuance of new shares and disclose the reasons for the suspension and subsequent arrangements.
10. The placing object shall strictly comply with the industrial regulatory requirements of China Securities Association, and the subscription amount shall not exceed
Over the corresponding asset scale or capital scale. Offline investors who provide valid quotations do not participate in the subscription or obtain
If the offline investors who have obtained the preliminary placement fail to pay the subscription amount in time and in full, they will be deemed to have breached the contract and shall be liable for breach of contract
The recommendation institution (lead underwriter) shall report the breach of contract to the China Securities Association for the record. Placing object
The number of violations in the selected layers of gem, science and innovation board, main board and national share transfer system shall be calculated together. Be included
During the restricted list period, the relevant placing objects shall not participate in the initial stock projects and on the gem, the science and innovation board and the main board
The shares of the national share transfer system are publicly issued to unspecified qualified investors and listed on the selected layer
Price and subscription.
If an online investor fails to pay in full after winning the lottery for 3 times in a row within 12 months, it shall settle it by itself
6 months (calculated as 180 natural days, inclusive) from the next day of the participant’s latest declaration of abandonment of subscription
The next day) shall not participate in online application of new shares, depositary receipts, convertible corporate bonds and exchangeable corporate bonds
Buy.
11. The issuer and the recommendation institution (lead underwriter) solemnly remind investors to pay attention to investment risks,
For rational investment, please carefully read Texas United Petroleum Technology published on January 4, 2022 (t-1)
The “special announcement on investment risk of initial public offering and listing on the gem” of joint stock limited companies has fully
Understand the market risks and prudently participate in this IPO.
Valuation and investment risk tips
1. According to the guidelines for Industry Classification of listed companies (revised in 2012) of China Securities Regulatory Commission, Deshi shares
Its industry is “special equipment manufacturing industry (C35)”, as of December 29, 2021 (T-4
The static average of “special equipment manufacturing industry (C35)” released by China Securities Index Co., Ltd. in the latest month
The price earnings ratio is 43.00 times. The valuation levels of comparable listed companies are as follows:
Closing price on day T-4 2020 deduction non 2020 deduction non 2020 deduction non pre 2020 deduction non securities code securities abbreviation (yuan / share) pre EPS post EPS P / E ratio post EPS P / E ratio (yuan / share) (yuan / share)
603036 Jiangsu Rutong Petro-Machinery Co.Ltd(603036) 9.690.330.2729.36
