Zhejiang Liansheng Chemical Co., Ltd
Zhejiang Realsun Chemical Co.,Ltd.
(No. 9, Donghai Third Avenue, toumengang new area, Linhai City, Zhejiang Province)
Listing announcement of initial public offering and listing on GEM
Sponsor (lead underwriter)
(No. 95, dongchenggenshang street, Qingyang District, Chengdu)
April, 2002
hot tip
The shares of Zhejiang Liansheng Chemical Co., Ltd. (hereinafter referred to as “Liansheng chemical”, “the company”, “the issuer” or “the company”) will be listed on the gem of Shenzhen Stock Exchange on April 19, 2022. The company reminds investors to fully understand the risks of the stock market and the risk factors disclosed by the company, avoid blindly following the trend of “speculation” in the initial stage of IPO, and make prudent decision and rational investment.
Unless otherwise specified, the abbreviations or terms in this listing announcement have the same meanings as those in the prospectus of the company’s initial public offering of shares and listing on the gem.
The “reporting period” of this listing announcement refers to 2018, 2019, 2020 and January June 2021.
The value of this listing announcement is usually reserved to two decimal places. If the total number is inconsistent with the mantissa of the sum of the values of each sub item, it is caused by rounding.
catalogue
Special tips Section 1 important statements and tips four
1、 Important statement four
2、 Special tips on investment risks at the initial stage of gem IPO four
3、 Special risk tips Section 2 stock listing ten
1、 Review of stock registration and listing ten
2、 Information about the listing of the company’s shares III. specific listing standards selected by the company when applying for initial public offering and listing and after the company’s public offering
Meet the selected listing criteria and its description Section III information of the issuer, shareholders and actual controllers fourteen
1、 Basic information of the issuer fourteen
2、 The issuer’s directors, supervisors, senior managers and the company’s shares and bonds held by them fifteen
3、 Information about the controlling shareholders and actual controllers of the company 15 IV. equity incentive plan and employee stock ownership plan formulated or implemented by the company before this public offering 18
5、 Changes in the share capital structure of the company before and after this issuance nineteen
6、 Shares held by the top ten shareholders of the company after the issuance 20 VII. Senior managers and core employees set up special asset management plans to participate in strategic placement twenty-one
8、 Other strategic placements Section IV stock issuance twenty-two
1、 Number of IPO shares twenty-two
2、 Issue price twenty-two
3、 Par value per share twenty-two
4、 P / E ratio twenty-two
5、 Price to book ratio twenty-two
6、 Issuance method and subscription twenty-three
7、 The total amount of funds raised and the verification of funds in place by Certified Public Accountants twenty-three
8、 Total and detailed composition of issuance expenses, issuance expenses per share twenty-three
9、 Net raised funds twenty-four
10、 Net assets per share after issuance twenty-four
11、 Earnings per share after issuance twenty-four
12、 Over allotment options Section V Financial and accounting data 25 section VI other important matters twenty-six
1、 Description of delisting risk of the company twenty-six
2、 Arrangements for special account storage of raised funds and tripartite supervision agreement twenty-six
3、 Other matters Section 7 listing recommendation institutions and their opinions twenty-eight
1、 Information of listed recommendation institutions twenty-eight
2、 Recommendation opinions of listed recommendation institutions twenty-eight
3、 Details of the sponsor representative who provides continuous supervision for the issuer Section VIII important commitments thirty
1、 Commitment to share locking thirty
2、 Shareholders’ intention to reduce their shareholding by more than 5% thirty-four
3、 Plan and commitment to stabilize the stock price thirty-four
4、 Commitment to dilute immediate return filling measures thirty-nine
5、 Commitment to the company’s profit distribution policy forty-one
6、 Commitment that there are no false records, misleading statements or major omissions forty-one
7、 On the share repurchase commitment of fraudulent issuance and listing forty-four
8、 Commitment to avoid horizontal competition, regulate and reduce related party transactions forty-five
9、 Commitment on failure to fulfill relevant public commitment and binding measures forty-nine
10、 Special commitment to shareholder information disclosure fifty-one
11、 There are no other major commitments that affect the issuance and listing and the judgment of investors XII. Binding measures of the recommendation institution and the issuer’s lawyer on the contents of the public commitment and failure to fulfill the commitment
Shi’s opinion fifty-two
Section I important statements and tips
1、 Important statement
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 large investment in innovation, uncertainty about the success of the integration of new and old industries, still in the growth stage, high operation risk, unstable performance and high delisting risk. Investors are facing greater market risks. Investors should fully understand the investment risks of the gem and the risk factors disclosed by the company, and make investment decisions prudently.
The company and all directors, supervisors and senior managers guarantee the authenticity, accuracy and completeness of the listing announcement, promise that there are no false records, misleading statements or major omissions in the listing announcement, and bear legal liabilities according to law.
The opinions of Shenzhen Stock Exchange and relevant government authorities on the listing of the company’s shares and related matters do not indicate any guarantee to the company.
The company reminds investors to carefully read the information published on cninfo.com（ http://www.cn.info.com.cn. ）The contents of the “risk factors” section of the company’s prospectus on the website should pay attention to risks, make prudent decisions and make rational investment.
The company reminds the majority of investors to pay attention to the relevant contents not involved in this listing announcement. Please refer to the full text of the company’s prospectus.
2、 Special tips on investment risk at the initial stage of gem IPO
The company reminds investors to pay attention to the investment risks at the initial stage of IPO listing. Investors should fully understand the risks and rationally participate in the trading of new shares.
(I) relaxation of price limit
The competitive trading of GEM stocks is subject to a wide range of price limits. For stocks that are initially issued and listed on the gem, there are no price limits in the first five trading days after listing, and the proportion of price limits thereafter is 20%. On the first day of the listing of new shares on the main board of Shenzhen Stock Exchange, the increase limit proportion is 44%, the decrease limit proportion is 36%, and the increase and decrease limit is 10% from the next trading day. The gem further relaxed the limit on the rise and fall range at the initial stage of stock listing and improved the trading risk.
(II) a small number of tradable shares
At the initial stage of listing, the lock up period of the original shareholders was 36 months, and the lock up period of the shares sold online was 6 months
Months. After this public offering of 27 million shares, the total share capital of the company is 108 million shares, including none
The restricted tradable shares were 25607252 shares, accounting for 23.71% of the total share capital after issuance. Initial circulating shares of the company
The number is small and there is a risk of insufficient liquidity.
(III) the P / E ratio is different from the average level of the same industry
In accordance with the “listed companies” issued by the China Securities Regulatory Commission (hereinafter referred to as the “CSRC”)
According to the division’s industry classification guidelines (revised in 2012), the industry of Liansheng chemical is “C26 chemical raw materials and chemicals”
Chemical products manufacturing industry “. As of March 28, 2022 (T-4), the industry data released by China Securities Index Co., Ltd
The average static P / E ratio in the last month was 39.89 times.
As of March 28, 2022 (T-4), the valuation levels of comparable listed companies are as follows:
Securities abbreviation securities code T-4 stock closing date 2020 deduction not before 2020 deduction not after 2020 deduction not before 2020 deduction not static 2020 deduction not after static offer price (yuan / share) EPS (yuan / share) EPS (yuan / share) P / E ratio (Times) P / E ratio (Times)
Nantong Acetic Acid Chemical Co.Ltd(603968) Nantong Acetic Acid Chemical Co.Ltd(603968) . SH 16.86 1.2107 0.9992 13.93 16.87
Jiangsu Yida Chemical Co.Ltd(300721) Jiangsu Yida Chemical Co.Ltd(300721) . SZ 38.21 -0.0453 -0.0844 -844.17 -452.99
Zhejiang Xinhua Chemical Co.Ltd(603867) Zhejiang Xinhua Chemical Co.Ltd(603867) . SH 30.89 1.4536 1.2739 21.25 24.25
Zhejiang Jianye Chemical Co.Ltd(603948) Zhejiang Jianye Chemical Co.Ltd(603948) . SH 28.75 0.7855 0.6786 36.60 42.37
Average 23.93 27.83
Note: 1. The net profit (yuan) before / after deduction in 2020 comes from the 2020 annual report of comparable companies and the stock closing price data on T-4
Wind。
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.
3. Static P / E ratio before (after) deduction in 2020 = T-4 closing price / EPS before (after) deduction in 2020.
4. The comparable company Xi Shangxi has been delisted and the net profit attributable to the parent company in Jiangsu Yida Chemical Co.Ltd(300721) 2020 is negative, so it is excluded when calculating the average value of P / E ratio.
The issue price is 29.67 yuan / share, which is lower before and after deducting non recurring profits and losses of the issuer in 2020
The diluted P / E ratio of the net profit attributable to the shareholders of the parent company is 34.62 times, lower than that of China Securities Index Co., Ltd
The average static P / E ratio of the industry in the latest month released is higher than the average static P / E ratio of comparable companies after deducting non profits in 2020
The price earnings ratio exceeded by 24.40%. There is a risk that the decline of the issuer’s share price will bring losses to investors in the future
The issuer’s production was affected by the substantial increase in the scale of net assets due to the acquisition of raised funds
Business model, business management and risk control ability, financial status, profitability and long-term interests of shareholders
Risk of significant impact.
(IV) the shares can be used as the subject matter of margin trading on the first day of listing
GEM stocks can be used as the subject of margin trading on the first day of listing, which may produce certain price fluctuation risk, market risk, margin call risk and liquidity risk. Price fluctuation risk refers to that margin trading will aggravate the price fluctuation of the underlying stock; Market risk refers to that when investors use stocks as collateral for financing, they need to bear not only the risks caused by the change of the original stock price, but also the risks caused by the change of the stock price of new investment, and pay the corresponding interest; Margin call risk means that investors need to monitor the level of guarantee ratio in the whole process of trading to ensure that it is not lower than the maintenance margin ratio required by margin trading; Liquidity risk refers to that when the price of the underlying stock fluctuates violently, the financed purchase of securities or the repayment of securities, the sale of securities or the repayment of securities may be blocked, resulting in greater liquidity risk.
3、 Special risk tips
The company specially reminds investors that before making investment decisions, they must carefully read all the contents of the section “section IV Risk Factors” of the company’s prospectus, and pay special attention to the following risk factors: (I) the risk of macroeconomic fluctuations affected by the epidemic situation
The company is mainly engaged in the R & D, production, sales and import and export trade of fine chemicals focusing on pharmaceutical intermediates, pesticide intermediates, electronic chemicals and chemical solvents. The products are mainly used in many fields such as medicine, pesticides, electronic chemicals and cosmetics, which are greatly affected by the macro economic situation.
Since the beginning of 2020, the outbreak of New Coronavirus pneumonia and the following “global pandemic” have faced greater uncertainty in the global economy. Although at this stage, due to the need to fight the epidemic, the demand for various antibacterial drugs has increased significantly
