The trend of A-Shares fell repeatedly. Last week (March 28 to April 1) 7 new shares were listed, of which 5 broke on the first day, accounting for 71% . It is worth noting that the trend of Shanghai and Shenzhen fluctuated more in 2022. Since this year, 87 new shares of A-Shares have been listed, of which 20 broke on the first day, accounting for 23%
five new shares broke on the first day of this week
A total of 7 new shares were listed this week, and 5 broke on the first day. New shares broke on the first day of trading on Friday, which attracted the attention of the market.
The highly anticipated innovative drug "beloved" Rongchang biology officially landed on the science and Innovation Board on March 31, realizing the dual listing of "a + H". However, the capital market did not seem to buy it, and it was broken on the first day of listing.
The issue price of Rongchang biology was 48 yuan, which fell below the issue price at 46 yuan on the first day of listing. As of the closing, Rongchang biology reported 40.84 yuan, down 14.92%, the largest decline on the first day of new shares listed this week. On the other hand, as of the time of publication on April 1, Rongchang biology closed at HK $43.55, which also fell below the issue price of HK $52.10.
Founded in 2008, Rongchang biology is an innovative biopharmaceutical enterprise with a global vision. Since its establishment, Rongchang biology has been focusing on the field of therapeutic antibody drugs such as antibody drug conjugate (ADC), antibody fusion protein, monoclonal antibody and double antibody.
On November 9, 2020, Rongchang biology landed on the Hong Kong Stock Exchange and was listed. In March 2021, Rongchang biology officially launched the secondary listing of a shares.
Rongchang biology raised a total of 2.612 billion yuan in this offering. The actual net fund-raising was 1.5 billion yuan less than the original proposed fund-raising. According to the prospectus disclosed by Rongchang biology on March 28, 2022, the company plans to raise 4 billion yuan for biological new drug industrialization projects, anti-tumor antibody new drug research and development projects, autoimmune and ophthalmic disease antibody new drug research and development projects and supplementary working capital projects.
Rongchang biology, whose performance is at a loss, reversed in 2021. Earlier, Rongchang biology released its annual report for fiscal year 2021, realizing an operating revenue of 1.424 billion yuan and a net profit of 276 million yuan, turning losses into profits year-on-year and a loss of 698 million yuan in the same period last year.
In addition, zhaoxun media, the "first share of high-speed rail media" listed this week, also fell 14.67% on the first day. Statistics show that the main business of zhaoxun media is to engage in the development, operation and advertising business of high-speed railway digital media resources, and the company's main business is advertising business.
Zhaoxun media is another "a-share-a-split-a" listed enterprise. The parent company of the company is Luenmei Quantum Co.Ltd(600167) ( Luenmei Quantum Co.Ltd(600167) ) listed on A-Shares The integrated heating service of the company is mainly clean energy. After the spin off, Luenmei Quantum Co.Ltd(600167) will focus on the development of comprehensive energy businesses such as heating, power supply, steam supply, engineering and network connection.
innovative pharmaceutical enterprises break through intensively
The only two new shares not broken on the first day of this week were listed on March 29, both of which are new shares on the gem.
Tynkon's main business is agent operation, R & D, production and sales of pharmaceutical products, medical devices and sanitary materials, as well as providing pharmaceutical technical services and technology transfer. Tynkon's issue price was 19.93 yuan. It landed on the gem on March 29, up 75.31% as of the closing.
In addition, Foxconn, which was listed on the same day as tynkon, rose 37.72% on the first day and closed. Fujilai is mainly engaged in the R & D, production and sales of pharmaceutical intermediates, APIs and raw materials of health products. Its main products include lipoic acid series, phosphatidylcholine series and carnosine series.
It is worth noting that most of the new shares broken this week were pharmaceutical and biological companies. In addition to the breaking of the innovative drug Rongchang biology on the first day, the first share of RNA diagnosis Rendu Biology (688193) that landed on the science and innovation board this week also closed down 10.86% on the first day.
In recent years, the breaking of new shares in medicine and biology seems to have become a norm. Among the new shares that landed on the science and innovation board in 2021, many such as Kaifa pharmaceutical and Baiji Shenzhou only broke on the day of listing. In 2022, the "breaking" of innovative pharmaceutical enterprises continues. In January, Yahong medicine broke off immediately after its opening. Maiwei biology was listed on January 18, 2022, but it also broke at the opening and closed down 29.6%.
For the breaking trend of pharmaceutical new shares, some market participants believe that the main reason for the breaking of new shares is that the pricing is too high. The revised pricing rules of new shares have pushed up the P / E ratio of issuance, and the attitude of the secondary market towards high-priced technology stocks tends to be cautious, which also makes new shares prone to breaking. In addition, there are some enterprises with serious break because the company's fundamentals are not optimistic and its performance is not satisfactory.
In addition, since this year, under the superposition of military conflicts between Russia and Ukraine and the deep correction of concept shares, the volatility of A-Shares has increased, which has also affected the market performance after the listing of new shares to a certain extent. This year, the Shanghai Composite Index fell 9.81%, the Shenzhen composite index fell 17.7% and the gem index fell 19.73%. Especially during March, affected by the epidemic and the volatile situation in Russia and Ukraine, the panic of A-Shares increased. The gem index fell 7.7%, the Shanghai index fell 6.07% and the Shenzhen composite index fell 9.94%.
With the depth adjustment of a shares, as of the closing on April 1, 42 of the 87 new shares listed this year have broken, accounting for 48%. In terms of the increase list, the cumulative increase of new shares listed this year is still Hefu China. After listing, Hefu China once had 12 boards, with a cumulative increase of more than 321.24%, and Hefu China is also the new share with the largest number of boards this year.
