Current investment tips:
Mingke precision technology is expected to issue PE not exceeding the industry. China’s approved IPO market arranged two new share issues in the approval document in the 16th week of 2022, which was flat month on month. Up to now, the IPO of Mingke Jingji has been launched in the 16th week. Based on the proposed fund-raising amount of 526 million yuan and the number of initial shares of 35.35 million shares announced in the prospectus, Mingke precision technology is expected to issue at a price of 14.89 yuan, with a corresponding PE of 22.98 times, which does not exceed 26.66 times the static PE of C36 automobile manufacturing industry in the past month as of April 17, 2022.
In the case of neutral expectation, the offline placing proportion of class A, B and C placing objects under Mingke Jingji network is 0.0046%, 0.0029% and 0.0012% respectively, and the corresponding single account top grid allocation funds are 6800 yuan, 4400 yuan and 18000 yuan respectively.
AHP model score – Mingke precision technology is located in the upper downstream. After considering the level of liquidity premium and absolute price, Mingke precision technology AHP score is 1.57, which is 27.1% of the total score of non scientific innovation system AHP model, and is at the upper downstream level of the total score of the model.
Highlights of this round of Fundamentals: Mingke Jingji is an advanced manufacturer of automotive metal structural parts in China. The company has excellent mold design and development ability, mold manufacturing technology and precision stamping technology. It mainly provides precision stamping molds and metal structural parts for customers in automobile, office equipment, electronic products, construction fire protection and other industries. The company’s production base covers five major automobile industry clusters among China’s six automobile industry clusters, and has set up a production base in Thailand to explore foreign markets, which is conducive to timely respond to customer needs and reduce transportation costs. The company has arranged in the field of new energy vehicles in advance, and has established business cooperation with Xiaopeng automobile, Farasis Energy (Gan Zhou) Co.Ltd(688567) and other new energy vehicle enterprises or industry supporting enterprises. The company’s main customers are world-renowned first-class suppliers of auto parts such as marily, Hiroshima technology and haistamp. The products are widely used in Nissan, Mazda, Volvo, Ford, BMW, Toyota and other auto brands, and have successively won the honorary titles of “China backbone mold enterprise” and “China key mold export enterprise” issued by China mold industry association.
Risk warning: Ming Ke fine technology needs to be alert to the risks of New Coronavirus pneumonia’s impact on the automotive industry, major raw material price fluctuations, intensified market competition, less sales of downstream models or products, and inadequate product quality control.
