On April 18, CNOOC (600938. SH) announced that retail investors abandoned 242 million yuan and offline investors abandoned 596000 yuan.
Since this year, registered new shares have been intensively broken, and the overall income is negative. Under the intensive breaking tide, this new share, which has been listed for only one month, triggered the commitment of the actual controller to extend the lock-in period due to the continuous breaking of the share price.
On April 17, Geling Shentong (688207. SH) announced that the company’s controlling shareholders and actual controllers extended the lock-in period for six months due to the continuous breaking of share prices triggering commitments.
That night, the wechat chip unit of the science and innovation board, which disclosed the announcement of winning the lottery, set a new record of the scale and proportion of A-share abandonment. Retail investors’ “get together and abandon the purchase” is to avoid the losses caused by the breaking of new shares, and the sponsor and lead underwriter who need to undertake the underwriting will be subject to the financial pressure of underwriting.
broke again and again, forced to extend the lock-in period
As of the closing on April 15, the closing price of green Shentong’s share price has been 39.49 yuan lower than the company’s IPO price for 20 consecutive trading days, triggering the conditions for fulfilling the commitment.
Shen Tong Zhishu, the controlling shareholder of the company, Zhao Yong, the actual controller, Ling Tong Zhongzhi, Ling Tong Shuyuan, Ling Tong Zhiyuan and Ling Tong Laike, the shareholders of the company controlled by the actual controller, Wang Yan, the director and senior executive of the company, Li Xinghua, the director and core technician of the company, Feng jianshuai and Zhou Rui, the senior executive and core technician of the company, and Wang Zheng, the senior executive of the company, extended the share locking period for 6 months to September 16, 2025 on the basis of the original locking period.
According to the prospectus, green Shentong’s main business is to deeply integrate advanced computer vision technology and big data analysis technology with application scenarios, and provide artificial intelligence products and solutions for urban management, smart finance, commercial retail, sports health, rail transit operation and maintenance and other fields.
Green Shentong landed on the science and Innovation Board on March 17, with an issue price of 39.49 yuan and an expected fund-raising of 1.156 billion yuan. After deducting the issue expenses, the actual net fund-raising was 1.67 billion yuan, and the excess fund-raising was about 420 million yuan. The company raised 1 billion yuan, which is mainly used for artificial intelligence algorithm platform upgrading project, artificial intelligence innovation and application R & D project, marketing service system upgrading construction project and supplementary working capital.
Under the aura of “genius AI”, from applying for the listing of the science and innovation board to the meeting, it took only five months for green Shentong to become the first computer vision AI company listed in a shares, which was significantly faster than the average meeting time of many science and Innovation Board IPOs.
But the two tier market performance of the company’s stock suck.
On the first day of listing, green Shentong broke at the opening and closed at 37.46 yuan, down 5.14%. In the first week of listing, the company’s share price fell 11.62% and fell 13.18% again the next week. As of the closing on April 18, the share price of green Shentong had fallen by 40% to 24.8 yuan, with a total market value of 4.6 billion yuan.
In terms of performance, green Shentong is listed in the form of unprofitable. In 2021, the company achieved an operating revenue of 294 million yuan, a year-on-year increase of 20.95%; The loss of net profit attributable to the parent company is 684177 million yuan, and the loss of net profit attributable to the parent company after deducting non profits is 651088 million yuan; The net outflow of cash flow from operating activities was 859036 million yuan, a year-on-year decrease of 344.82%.
A TMT analyst told reporters that the high odds of investing in AI enterprises and the uncertainty of profit realization have made capital’s attitude towards the industry much colder than a few years ago.
\u3000\u3000 “AI is an extremely money burning industry. From the development of Cambricon Technologies Corporation Limited(688256) and the ‘AI four little dragons’, we can see that so far, the revenue of most AI enterprises can not cover R & D investment, and they may not survive without going public after running out of investors’ money. In addition, steady growth is one of the main lines of this year’s stage, and profit certainty and growth sustainability are the most important factors for capital. AI enterprises have difficulty in landing technology, unclear application scenarios and profit dilemma As a result, the capital gives AI enterprises a conservative valuation for a long time, which is easy to break if it is superimposed with the factors of high issuance pricing. ” The analyst told reporters.
investors abandoned the purchase and the underwriter became a major shareholder
As of April this year, the average proportion of new shares listed on the Kechuang board was 51%, with an increase of only 15%. In particular, the frequent breaking of high priced new shares has had a chain reaction to investors’ Innovation – from “closing their eyes and making innovations” to “abandoning purchases in violation of regulations”.
On April 18, CNOOC announced the issuance results, and online investors gave up the subscription amount of 242 million yuan. Compared with the 10 billion issuance scale of CNOOC, it is harmless to abandon the purchase of more than 200 million yuan. Just the night before, the amount of investors’ abandonment disclosed by nano chip micro broke a number of records.
April 17, April 17, April 17, April 17, April 17, April 17, the scientific innovation board with a chip chip in the core micro (688052. SH) is the result of the announcement of the results of the issuance of a new issue. The announcement shows that 123 \ \7 million shares, with a abandonment amount of 780 billion yuan , accounting for 38.76% of the total online issuance of 8.7235 million shares. The amount of shares abandoned and purchased by offline investors is 0.
regardless of the proportion or amount of abandonment, nxi micro refreshed the record of a shares According to choice statistics, China Mobile (600941.sh) had the highest amount of A-share abandonment before NSM, and the amount of A-share abandonment by investors was about 756 million yuan; The highest proportion of abandonment is China Communications Construction Company Limited(601800) ( China Communications Construction Company Limited(601800) . SH), which is 11.05%, and the proportion of online abandonment of nano core micro is 13.38%.
The offering price of the listed technology innovation board and nano core micro is as high as 230 yuan, which is the most expensive new share in the year. The company plans to raise and invest 750 million yuan, and the actual fund-raising is 5.8 billion yuan. It is rare to raise more than 5 billion yuan.
From high pricing and over raising to investment losses after the issuance of new shares, the chain reaction after retail investors “abandon the purchase in a group” may put pressure on the sponsor and lead underwriter
According to the prospectus, the sponsor and lead underwriter of the IPO of NSM is Everbright Securities Company Limited(601788) . According to the regulations, in accordance with the provisions, the shares that investors under the Internet and online investors have given up to subscribe for part of the shares that investors under the Internet and online investors have abandoned to subscribe for are underwunderwritten by the sponsor (the lead underwriter) in accordance with the regulations, and the portion of the shares that investors under the Internet and online and online investors have given up part of the shares that investors under the Internet and online investors have given up to part of the shares that are part of the shares that investors under the net and online investors have given up to subscribe for in accordance with the regulations. According to the regulations, the shares that investors under the Internet and online investors have given up to part of the subscription portion of the shares that is, the underwriting by the sponsor (the lead underwriter), that is, that is, that is 123123 6 \ \theproportion of underwritten shares in the total scale of this offering is 13.38% .
for Everbright Securities Company Limited(601788) a clear account is in front of us. In the 2021 of the 2022021 , theshare underwriting amount of billion accounted for 22% of the annual net profit , plus the strategic placement of billion yuan by Everbright fuzun Investment Co., Ltd, Everbright Securities Company Limited(601788) holds nearly 9 billion yuan in total, and will become the major shareholder of the latter
The total underwriting fee and recommendation fee charged by Everbright Securities Company Limited(601788) this time is 203 million yuan this means that Everbright Securities Company Limited(601788) as an underwriter may have made a loss deal in case of a break margin of after the listing of NSM. At the same time, the lock-in period of this part of the underwritten shares is one year, and the share price of nano core micro is still unknown at that time
On April 18, the market funds took the lead in fleeing. The stock price of Everbright Securities Company Limited(601788) ( Everbright Securities Company Limited(601788) . SH) opened low, with the largest intraday decline of more than 4%. As of the close, Everbright Securities Company Limited(601788) reported 12.42 yuan, down 2.89%.
The aforementioned analysts told reporters that under the background of over offering of new shares on the science and innovation board and high valuation issuance, once the funds are not friendly to the science and technology sector, the break of science and innovation shares will become a high probability time.
Since this year, the performance of technology stocks has been dismal, and the semiconductor sector has fallen by more than 25%. The Kechuang 50 Index ( Guocheng Mining Co.Ltd(000688) ), which represents hard technology, once fell below 1000 basis points for several consecutive days. On April 12, the Kechuang 50 index fell below 1000 points for the first time, and continued to decline in the next few days, reaching a minimum of 955.77 points.
\u3000\u3000 “From the perspective of quotation, under the new rules of inquiry, new shares are basically the buyer’s market. Retail investors continue to abandon the purchase of high priced new shares, which will make these new shares’ a game only for institutions’, which may hinder the market-oriented development of the registration system for a long time. Of course, the performance of technology stocks has been sluggish since the beginning of the year, and the sentiment of investing in science and innovation enterprises is part of the factor for the breaking of new shares. The ultra-high pricing and high proportion of abandonment probability of NSM are individual cases, which will follow With the rebound of the science and innovation sector, retail investors are expected to regain confidence. ” A senior investment banker told reporters.
It is worth mentioning that on April 18, growth tracks such as photovoltaic and semiconductor rebounded significantly, Hangzhou Silan Microelectronics Co.Ltd(600460) ( Hangzhou Silan Microelectronics Co.Ltd(600460) . SH) increased the limit, Trina Solar Co.Ltd(688599) ( Trina Solar Co.Ltd(688599) . SH), Jingke energy (688223. SH) and other components of Kechuang 50 index rose sharply. As of the close, Kechuang 50 index closed up 3.21% to 100461 points, back above the base point.
