Harbin Welding Institute Huatong (Changzhou) welding industry Co., Ltd
Initial public offering and listing on GEM
Suggestive announcement of listing announcement
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
With the approval of Shenzhen Stock Exchange, the RMB common shares issued by the company will be listed on the gem of Shenzhen Stock Exchange on March 22, 2022. The full text of the listing announcement and the full text of the IPO and listing on the gem will be disclosed on the information disclosure website designated by the CSRC: cninfo.com, www.cn info. com. cn.； China Securities Network, website: www.cs.com com. cn.； China Securities Network, website: www.cn stock. com.； Securities Times website, www.stcn.com com.； Securities Daily website, www.zqrb.com cn.； QR code of the website: cninfo, for investors to check. 1、 Listing overview
(I) stock abbreviation: Harbin Welding Huatong
(II) Stock Code: 301137
(III) total share capital after IPO: 181813400 shares
(IV) increased shares from initial public offering: 454534 million shares II. Risk warning
The company’s shares will be listed on the growth enterprise market of Shenzhen Stock Exchange, 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 company, and make investment decisions prudently.
The offering price is 15.37 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 (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 industry classification guidelines for listed companies (revised in 2012) issued by the China Securities Regulatory Commission, the industry of the company belongs to the metal products industry (industry code C33). As of March 4, 2022 (T-4), the average static P / E ratio of the industry released by China Securities Index Co., Ltd. in the latest month was 28.96 times.
As of March 4, 2022 (T-4), the valuation levels of comparable listed companies are as follows:
The static securities code corresponding to the static market corresponding to the T-4 day shares in 2020 is abbreviated as the securities before deduction and after deduction. Closing earnings ratio before deduction – price earnings ratio before deduction – EPS after deduction (yuan / price (yuan / (2020) / share) (share) (share)
Atlantic China Welding Consumables Inc(600558) .SH Atlantic China Welding Consumables Inc(600558) 0.1180 0.1133 3.61 30.60 31.85
Hangzhou Huaguang Advanced Welding Materials Co.Ltd(688379) .SH Hangzhou Huaguang Advanced Welding Materials Co.Ltd(688379) 0.7350 0.6544 19.92 27.10 30.44
Average 28.85 31.15
Data source: wind information, data as of March 4, 2022.
Note 1: if there is mantissa difference in the calculation of P / E ratio, it is caused by rounding;
Note 2: EPS before / after deduction of non recurring profit and loss in 2020 = net profit attributable to the parent before / after deduction of non recurring profit and loss in 2020 / total share capital on T-4 day.
The issuance price of 15.37 yuan / share corresponds to the lower diluted P / E ratio of the issuer before and after deducting non recurring profits and losses in 2020, which is 40.69 times higher than the average static P / E ratio of the issuer’s industry in the latest month released by China Securities Index Co., Ltd., with an excess range of 40.50%; It is 31.15 times higher than the average static P / E ratio of comparable A-share companies in the same industry before and after deducting non recurring profits and losses in 2020, with an excess range of 30.63%. There are the following reasons:
First, the shareholder background of central enterprises in the positioning of basic scientific research provides strong support for the long-term development of the company. The actual controller of the company is the General Machinery Institute Group, which is the only central enterprise engaged in the research of basic common technologies in equipment manufacturing industry; Harbin Welding Institute, the controlling shareholder, is a national scientific research institution with comprehensive scientific and technological strength in welding technology research. It is the affiliated unit of the Secretariat of China Welding Association, the Secretariat of Welding Society of China Mechanical Engineering Society and the Secretariat of national welding Standardization Technical Committee. It has a national welding material quality supervision and inspection center. Second, the company is an enterprise that entered the welding materials industry earlier in China. Since its establishment, the company has been deeply engaged in the R & D, production and sales of fusion welding materials for many years, forming a strong core competitiveness in the market; It has established a stable R & D and operation team, accumulated rich process technology and production experience, and mastered the core production technology with independent intellectual property rights; The company has good product performance indicators, stable quality and timely supply, and has established a long-term and stable cooperative relationship with leading enterprises in downstream industries. Third, the company has the international leading and advanced technical level in product development and production technology. The developed nickel base alloy, high-end aluminum alloy welding wire and other products fill the gap in China and have been applied in many national key projects. With the rapid development of lightweight, high-end and localization of fusion welding materials, the company’s products comply with the future trend and have broad market prospects.
The issuance price of 15.37 yuan / share corresponds to the lower diluted P / E ratio of the issuer before and after deducting non recurring profits and losses in 2020, which is 40.69 times higher than the average static P / E ratio of the issuer’s industry in the latest month of 28.96 Times published by China Securities Index Co., Ltd., and 31.15 times higher than the average static P / E ratio of A-share comparable companies in the same industry before and after deducting non recurring profits and losses in 2020, There is a risk that the decline of the issuer’s share price will bring losses to investors in the future.
The issuer and the recommendation institution (lead underwriter) remind investors to pay attention to investment risks, carefully study and judge the rationality of issuance pricing, and make investment decisions rationally.
There is a risk that the net asset scale will increase significantly due to the acquisition of raised funds, which will have an important impact on the issuer’s production and operation mode, operation management and risk control ability, financial status, profitability and long-term interests of shareholders. The issuer and the recommendation institution (lead underwriter) remind investors to pay attention to investment risks, carefully study and judge the rationality of issuance pricing, and make investment decisions rationally.
The company reminds investors to pay attention to the investment risks in the initial stage of IPO (hereinafter referred to as “new shares”), and investors should fully understand the risks and rationally participate in the trading of new shares. 3、 Contact information
(I) contact address and telephone number of the issuer
Issuer: Harbin Welding Institute Huatong (Changzhou) welding industry Co., Ltd
Contact address: No. 386, Changhong East Road, Yaoguan Town, Wujin District, Changzhou City, Jiangsu Province
Contact: Ding Jinhong
Tel: 051988710806
Fax: 051988710806
(II) contact address and telephone number of the lead underwriter and the sponsor representative
Sponsor (lead underwriter): China Securities Co.Ltd(601066) sponsor representative: Chen Qiang, Zhao Liang address: floor 3, blocks B and E, Kaiheng Center, No. 2 chaonei street, Dongcheng District, Beijing Tel: 01065608208 Fax: 01065608450
(there is no text on this page, which is the seal page of the suggestive announcement of the initial public offering and listing on the gem of Harbin Welding Institute Huatong (Changzhou) welding industry Co., Ltd.)
Harbin Welding Institute Huatong (Changzhou) welding industry Co., Ltd. (there is no text on this page, which is the seal page of the suggestive announcement of the initial public offering of shares and listing on the gem of Harbin Welding Institute Huatong (Changzhou) welding industry Co., Ltd.)
China Securities Co.Ltd(601066) mm / DD / yyyy
