New Hua Du Supercenter Co.Ltd(002264) Special Electric Co., Ltd
Announcement on initial public offering and listing on GEM
Sponsor (lead underwriter):
hot tip
New Hua Du Supercenter Co.Ltd(002264) Special Electric Co., Ltd. (hereinafter referred to as "Xinte electric", "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") and the measures for the administration of the registration of shares in the initial public offering of 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), detailed rules for the implementation of the issuance and underwriting of initial public offerings on the gem of Shenzhen Stock Exchange (SZS [2021] No. 919, hereinafter referred to as the "detailed rules") Detailed rules for the implementation of online issuance of initial public offerings in Shenzhen market (SZS [2018] No. 279, hereinafter referred to as "detailed rules for the implementation of online issuance"), detailed rules for the implementation of offline issuance of initial public offerings in Shenzhen market (revised in 2020) (SZS [2020] No. 483, hereinafter referred to as "detailed rules for the implementation of offline issuance") The code for underwriting initial public offerings under the registration system (zxsf [2021] No. 213), the rules for the administration of offline investors in initial public offerings under the registration system (zxsf [2021] No. 212, hereinafter referred to as the "management rules") The detailed rules for placement of initial public offering shares (zxsf [2018] No. 142) and the relevant provisions of Shenzhen Stock Exchange (hereinafter referred to as "Shenzhen Stock Exchange") on stock issuance and listing rules and the latest operation guidelines shall organize the implementation of initial public offering shares and listing on GEM.
This offline issuance is conducted through the offline issuance electronic platform of Shenzhen Stock Exchange (hereinafter referred to as the "offline issuance electronic platform"). Offline investors are requested to carefully read this announcement and the detailed rules for the implementation of offline issuance and other relevant provisions. The online issuance is carried out through the trading system of Shenzhen Stock Exchange by means of subscription and pricing according to market value. Online investors are requested to carefully read this announcement and the implementation rules for online issuance issued by Shenzhen Stock Exchange.
Investors are kindly requested to focus on the issuance process, online and offline subscription and payment, disposal of share abandonment, etc. the specific contents are as follows:
1. This offering is conducted by a combination of directional placement to strategic investors (hereinafter referred to as "strategic placement"), offline inquiry placement to qualified offline investors (hereinafter referred to as "offline issuance") and online pricing issuance to social public investors holding non restricted A-share shares and non restricted depositary receipts market value in Shenzhen market (hereinafter referred to as "online issuance").
The strategic placement of this offering shall be organized and implemented by the sponsor (lead underwriter); The initial inquiry and offline issuance shall be organized and implemented by the sponsor (lead underwriter) through the offline issuance electronic platform; Online issuance is carried out through the trading system of Shenzhen Stock Exchange.
2. After the preliminary inquiry, the issuer and the sponsor (lead underwriter) shall, in accordance with the exclusion rules stipulated in the announcement on initial public offering and listing on gem of New Hua Du Supercenter Co.Ltd(002264) Special Electric Co., Ltd. (hereinafter referred to as the "announcement on preliminary inquiry and recommendation"), after excluding the preliminary inquiry results that do not meet the requirements of investors' quotation, Eliminate all placing objects whose proposed purchase price is higher than 16.10 yuan / share (excluding 16.10 yuan / share); The proposed subscription price is 16.10 yuan / share, and the placing objects whose subscription quantity is less than 15 million shares are eliminated; The proposed subscription price is 16.10 yuan / share, and the number of subscription is equal to 15 million shares, and the subscription time is 14:52:31:679 on March 30, 2022. According to the order of placement objects automatically generated by the offline issuance electronic platform of Shenzhen Stock Exchange, two placement objects are excluded from the back to the front. A total of 96 placing objects were excluded in the above process, and the total number of shares to be purchased was 1178.8 million, accounting for 1.0048% of the total number of 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".
3. According to the preliminary inquiry results, the issuer and the recommendation institution (lead underwriter) comprehensively consider the investor's quotation and the number of proposed subscriptions, the effective subscription multiple, the issuer's fundamentals and industry, the market situation, the valuation level of Listed Companies in the same industry, the demand for raised funds and underwriting risk, and negotiate to determine that the price of this issuance is 13.73 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 April 7, 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 April 7, 2022 (t day), in 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.
4. Strategic placement:
The initial strategic placement quantity of this issuance is 9.288 million shares, accounting for 15.00% of this issuance quantity. The offering price exceeds the median and weighted average of offline investors' quotation after excluding the highest quotation, as well as the Securities Investment Fund (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") 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 and other provisions, whichever is lower, is 137200 yuan / share. According to item (IV) of Article 39 of the implementation rules, relevant subsidiaries of the recommendation institution shall participate in this strategic placement.
According to the final price, the strategic placement of this issuance is the follow-up investment of the special asset management plan of the issuer's senior managers and core employees and the relevant subsidiaries of the sponsor. All subscription funds of strategic investors have been remitted to the bank account designated by the sponsor (lead underwriter) within the specified time.
The special asset management plan for senior managers and core employees of the issuer is the No. 1 collective asset management plan of Minsheng securities Xinte electric strategic placement (hereinafter referred to as "Xinte electric special asset management plan"). According to the final price, the final strategic placement shares of the special asset management plan for senior managers and core employees of the issuer were 3678077 shares, accounting for 5.94% of the shares issued this time.
The relevant subsidiary of the sponsor is Minsheng Securities Investment Co., Ltd. (hereinafter referred to as "Minsheng investment").
According to the final price, the final strategic placement shares of Minsheng investment are 2913328 million shares, accounting for 4.70% of the shares issued this time.
The initial strategic placement quantity of this issuance is 9.288 million shares, accounting for 15.00% of this issuance quantity. The final strategic placement of this issuance is 6591405 shares, accounting for 10.65% of this issuance. The difference between the initial strategic placement and the final strategic placement is 2696595 shares, which will be transferred back to offline issuance.
5. Restricted period arrangement: among the stocks issued this time, the stocks issued online have no circulation restrictions and restricted 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, 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.
In terms of strategic placement, the senior managers and core employees of the issuer participated in the special asset management plan established by this strategic placement, and the restricted period of shares allocated is 12 months; The restricted period of shares allocated by Minsheng investment in this strategic placement is 24 months. The restricted sale period shall be calculated from the date when the shares of this public offering are listed on the Shenzhen Stock Exchange.
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 April 7, 2022 (t day) according to the online subscription, so as to adjust the scale of offline and online issuance. The launch of the callback mechanism will be determined according to the initial effective subscription multiple of online investors.
8. Offline investors shall, in accordance with the announcement on offline preliminary placement results of initial public offering of shares by New Hua Du Supercenter Co.Ltd(002264) Special Electric Co., Ltd. and listing on GEM (hereinafter referred to as "announcement on offline preliminary placement results"), timely and fully pay the subscription funds for new shares according to the final issuance price and preliminary placement quantity before 16:00 on April 11, 2022 (T + 2).
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-mentioned 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, 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 the online investors win the lot in the subscription of new shares, they shall fulfill the obligation of capital settlement in accordance with the announcement on the results of online lottery of New Hua Du Supercenter Co.Ltd(002264) Special Electric Co., Ltd. initial public offering and listing on the gem (hereinafter referred to as the announcement on the results of online lottery), so as to ensure that their capital account will eventually have sufficient funds for the subscription of new shares on April 11 (T + 2) 2022, and the insufficient part shall be deemed as abandoning the subscription, The resulting consequences and relevant legal liabilities shall be borne by the investors themselves. The transfer of investors' funds shall comply with the relevant provisions of the securities company where the investors are located.
The shares abandoned by offline and online investors shall be underwritten by the sponsor (lead underwriter).
9. When the total number of shares paid and 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 the corresponding asset scale or capital scale. 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. The number of violations of placing objects in the stock markets of Beijing stock exchange, Shanghai Stock Exchange and Shenzhen Stock Exchange shall be calculated together. During the period of being included in the restricted list, the placing object shall not participate in the offline inquiry and subscription of relevant projects in the stock markets of Beijing stock exchange, Shanghai Stock Exchange and Shenzhen Stock Exchange.
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. 11. The issuer and the sponsor (lead underwriter) solemnly remind investors to pay attention to investment risks and invest rationally. Please carefully read the special announcement on investment risks of New Hua Du Supercenter Co.Ltd(002264) Special Electric Co., Ltd. in initial public offering and listing on GEM published in China Securities Journal, Shanghai Securities Journal, securities times and securities daily on April 6, 2022 (t-1), and fully understand the market risks, Prudently participate in this IPO.
Valuation and investment risk tips
1. According to the industry classification guidelines for listed companies (revised in 2012) issued by China Securities Regulatory Commission (hereinafter referred to as "CSRC"), Xinte Electric's industry is "C38 electrical machinery and equipment manufacturing industry". The static average p / E ratio of "C38 electrical machinery and device manufacturing industry" released by China Securities Index Co., Ltd. in the latest month is 42.05 times (as of March 30, T-4, 2022). The valuation levels of comparable listed companies are as follows:
2020 deduction 2020 deduction T-4 day stock corresponding static market corresponding static market securities abbreviation securities code non front EPS non back EPS closing price earnings ratio deduction non front earnings ratio deduction non back (yuan / share) (yuan / share) (yuan / share) (2020) (2020)
Tbea Co.Ltd(600089) Tbea Co.Ltd(600089) . SH 0.6564 0.4847 20.60 31.38 42.50
China Xd Electric Co.Ltd(601179) China Xd Electric Co.Ltd(601179) . SH 0.0473 0.0139 4.53 95.83 324.89
Ceepower Co.Ltd(300062) Ceepower Co.Ltd(300062) . SZ 0.0393 0.0322 9.02 229.80 280.37
State Grid Yingda Co.Ltd(600517) State Grid Yingda Co.Ltd(600517) . SH 0.2057 0.2197 5.71 27.77 25.99
Hainan Jinpan Smart Technology Co.Ltd(688676) Hainan Jinpan Smart Technology Co.Ltd(688676) . SH 0.5440 0.4791 20.75 38.14 43.31
