This week (March 21, 2022 ~ March 25, 2022), one new enterprise was accepted on the science and innovation board and gem, six enterprises passed the meeting, five enterprises took effect, and five enterprises terminated the audit.
overall review of science and innovation board and gem:
As of March 25, 2022, the Shanghai Stock Exchange has received a total of 715 science and technology innovation board application enterprises, of which 2 are in the accepted state, 45 are in the inquiry stage, 13 are in the deliberation stage of the Shanghai municipal Party committee, 44 are in the submission stage of registration, 440 have obtained the registration results, 18 have suspended and updated the financial report, and 153 have terminated the audit.
The Shenzhen Stock Exchange has accepted a total of 840 gem application enterprises, of which 5 are in the accepted state, 204 are in the inquiry stage, 14 are in the deliberation stage of the municipal Party committee, 66 are in the submission stage of registration, 330 have obtained the registration results, 57 have suspended and updated the financial report, and 164 have terminated the audit.
new changes this week:
From March 21 to March 25, the Shanghai stock exchange accepted an IPO application of a new science and innovation board; One company entered the inquiry stage on Tuesday, and 10 companies updated their information; During the deliberation stage of the listing committee, two companies had a meeting this week and one updated the information; In the process of submitting registration, one company submitted registration this week and two updated information; In terms of registration results, four companies registered and took effect this week, and three updated their information; 14 companies suspended the audit due to the update of financial statements; Two companies terminated the audit.
Shenzhen Stock Exchange does not accept new gem IPO applications; 39 companies in the inquiry stage have updated their information; During the deliberation stage of the listing committee, four companies will hold a meeting this week, namely Foshan linkage Technology Co., Ltd. (hereinafter referred to as “linkage technology”), Shiyan taixiang Industrial Co., Ltd. (hereinafter referred to as “taixiang”), Beijing Jiaman Clothing Co., Ltd. (hereinafter referred to as “Jiaman clothing”) and Guangdong Dingtai high tech technology Co., Ltd. (hereinafter referred to as “Dingtai high tech”), of which taixiang is a listed enterprise on the board; 1 company submitted for registration; In terms of registration results, one company registered and took effect this week, and seven companies registered and took effect updated their information; 37 companies suspended the audit; Three companies terminated the audit, of which two were voluntarily withdrawn and one failed the audit. It was Beijing Dianqi Communication Technology Co., Ltd. (hereinafter referred to as “Dianqi shares”), which did not meet the issuance conditions, listing conditions or information disclosure requirements.
newly accepted IPO companies:
From March 21 to March 25, the science and Innovation Board accepted a new gem IPO application for Chengdu Jilin Sino-Microelectronics Co.Ltd(600360) Technology Co., Ltd. (hereinafter referred to as “Chengdu Huawei”), which plans to issue no more than 95.6 million shares to raise 1.5 billion yuan. The raised funds will be used for chip R & D and industrialization, high-end integrated circuit R & D and industrial base and supplement working capital.
Chengdu Huawei focuses on the R & D, design, testing and sales of special integrated circuits, and takes providing the overall solution of signal processing and control system as the industrial development direction. Its main products cover two fields of special digital and analog integrated circuits.
From 2018 to 2020 and the first three quarters of 2021, the operating revenue of Chengdu Huawei was 116 million yuan, 142 million yuan, 316 million yuan and 411 million yuan respectively, and the net profit attributable to the parent company was 4.2 million yuan, – 128671 million yuan, 608819 million yuan and 160 million yuan respectively.
In the same period, the total R & D investment of the company’s self raised and state allocated R & D projects was 677321 million yuan, 107 million yuan, 172 million yuan and 206 million yuan respectively, accounting for 58.39%, 75.07%, 54.34% and 50.25% of the operating revenue in the same period respectively.
Chengdu Huawei pointed out that there are risks such as insufficient ability of continuous technological innovation, tight production capacity of suppliers and fluctuation of purchase price, stability of wafer supply chain, fluctuation of downstream demand and product sales price, and sustainability of special funds for the project.
This week, Shenzhen Stock Exchange did not accept new gem IPO applications.
after meeting + registration:
During the period from March 21 to March 25, there were two IPO applications on the science and innovation board, namely Hefei xinhuicheng Microelectronics Co., Ltd. (hereinafter referred to as “Huicheng shares”) and Shanghai mengke Pharmaceutical Co., Ltd. (hereinafter referred to as “mengke pharmaceutical”), which planned to raise 1.564 billion yuan and 1.25 billion yuan respectively.
In December 2021, kechuangke and Chenghui Pharmaceutical Co., Ltd. accepted the IPO application of Kechuang pharmaceutical alliance, and both entered the inquiry link of the same year.
The questions asked by Huicheng shares on site mainly include: gross profit margin and sustainability of business growth; Explain whether the use of relevant borrowings complies with the provisions on foreign exchange control and whether it will affect the stability of the issuer’s control.
The questions asked by mengke pharmaceutical on site mainly include: the measures being taken or planned to improve the current situation that its business mainly depends on a single product; Part of the intangible assets invested twice in 2012 and 2020 are patents of the same family applied in different countries or regions. Does it constitute repeated investment of the same patent.
In the process of submission for registration, one company’s Sci-tech Innovation Board IPO application was submitted for registration this week. It is Hefei Jinghe integrated circuit Co., Ltd., which plans to raise 12 billion yuan.
In terms of registration results, the IPO applications of four enterprises on the science and innovation board came into effect this week. They are Zhejiang Hechuan Technology Co., Ltd., Jiangsu Jicui Yaokang Biotechnology Co., Ltd., Hangzhou Jingye Intelligent Technology Co., Ltd. and Hefei Jingsong Intelligent Technology Co., Ltd., which plan to raise 801 million yuan, 820 million yuan, 601 million yuan and 338 million yuan respectively.
It is worth noting that this week, a total of 14 companies on the science and innovation board applied for suspension of IPO review, of which 13 companies were suspended because “the company and its intermediaries were unable to complete due diligence and reply to audit inquiries within the specified time limit due to the impact of the epidemic, and applied to the Shanghai stock exchange for suspension of review”. Zhongjuxin Technology Co., Ltd. suspended the audit due to the active request of the issuer and the sponsor.
In addition, the IPO application of two companies on the Kechuang board was terminated this week. They are State Grid Intelligent Technology Co., Ltd. and Shanghai Fengtian Electronics Co., Ltd. respectively. The reason for termination is “the issuer withdraws its application for issuance and listing or the sponsor withdraws its recommendation”.
During the period from March 21, 2022 to March 25, 2022, Shenzhen stock exchange held two review meetings of the municipal Party Committee on the gem, and five companies broke through the difficulties, of which four passed the meeting, including linkage technology, taixiang Co., Ltd., Jiaman clothing and Dingtai high tech. among them, taixiang Co., Ltd. is a listed enterprise on the gem.
Among them, linkage technology was accepted on June 30 last year. At the end of July, the municipal Party committee meeting paid attention to relevant issues such as the actual controller of the company and the deviation of gross profit margin compared with the same industry.
Taixiang Co., Ltd. was accepted on November 10 last year and inquired on November 19. It is a board transfer company. At the municipal Party committee meeting, it raised four questions, including the impact of the conflict between Russia and Ukraine, “three innovations and four innovations”, the positioning of the gem, the significant dependence on Volkswagen Group, and financial investment.
Jiaman clothing was accepted at the end of December 2020 and inquired at the end of January last year. The municipal Party committee meeting noted that the company’s R & D investment was lower than that of comparable companies in the same industry, and asked it to explain the reasons and rationality; In addition, it is also concerned that the amount of goods in stock and issued by the issuer is large.
Dingtai high tech accepted the inquiry on June 29 last year. At the end of July, the municipal Party committee meeting asked it to explain the reason and rationality that the ending inventory proportion of goods issued was lower than that of other inventories; The establishment and implementation effectiveness of internal control systems related to the daily and period end management of consignment mode revenue recognition and goods issued.
Dianqi shares failed to break through the barrier. The listing committee considered that the issuer failed to make a reasonable and sufficient explanation on the rationality of the labor procurement mode, the rationality and standardization of the main services provided by relevant suppliers for the issuer, the fairness of the labor procurement price and the integrity of the labor procurement fee, and failed to fairly reflect the issuer’s financial status, operating results and cash flow in the above major aspects, which is not in line with the relevant provisions of the gem.
One company submitted for registration this week is Shenzhen weiteou New Material Co., Ltd; One company, Chengdu Purui ophthalmic hospital Co., Ltd., was registered and came into effect.
