Recently, the performance of A-share new shares has attracted much attention. The five new shares listed today are obviously differentiated, of which three new shares on the gem rose in the morning, and N Liansheng (301212) triggered a temporary stop in the afternoon. Previously, Liansheng chemical disclosed that the listing and issuance results showed that 125269 shares were abandoned and underwritten by the lead underwriter and the other two new shares of the science and Innovation Board broke, among which Jingwei Hengrun lost nearly 14000 yuan in the first signing if calculated according to the lowest price in the afternoon trading. After that, about one-third of the online investors of the new shares abandoned the purchase. As new shares, why is the performance so different? Let’s see what’s going on?
gem new shares Liansheng chemical triggered a temporary stop in the afternoon
Liansheng chemical, a new share of the gem, was listed today at an opening price of 35.00 yuan, up 17.96%. It once rose more than 53% in the afternoon, up 30% from the opening price, triggering a temporary stop. As of press time, the stock rose 29.93% to 38.59 yuan, with the latest market value of 4.199 billion yuan
Statistics show that the total number of shares issued by the company this time is 27 million, of which, the online issuance volume is 13.095 million shares, the issuance price is 29.67 yuan / share, the issuance price earnings ratio is 34.62 times, the industry average price earnings ratio is 39.89 times, the number of effective subscription accounts for online issuance is 114404 million, and the final winning rate of online issuance is 00190579712%. The initial raised capital is 801 million yuan, and the raised capital is mainly invested in the reconstruction project of 526000 T / a electronics and special chemicals (phase I); New projects such as ultra pure electronic chemicals and biodegradable new materials (phase I), etc.
It is reported that Liansheng chemical 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. Its products are mainly used in many fields such as medicine, pesticides, electronic chemicals and cosmetics.
According to the prospectus, from 2018 to 2020 and the first half of 2021 (hereinafter referred to as the “reporting period”), Liansheng chemical achieved operating revenue of 461 million yuan, 546 million yuan, 680 million yuan and 437 million yuan respectively. The net profits attributable to the owners of the parent company were 289816 million yuan, 585245 million yuan, 977425 million yuan and 590418 million yuan respectively.
Source: screenshot of the company’s official website
During the reporting period, the business scale of the company increased rapidly and the overall financial situation remained good. The company has low financial risk and strong solvency; From the perspective of profitability, the company’s operating revenue and net profit attributable to the shareholders of the parent company achieved rapid growth during the reporting period, with good profitability and sustainable development ability.
During the reporting period, the company’s R & D expenses were 157241 million yuan, 20.528 million yuan, 225624 million yuan and 142031 million yuan respectively, accounting for 3.41%, 3.76%, 3.32% and 3.25% of the operating revenue, and 4.07%, 4.64%, 4.04% and 4.06% of the revenue of self-produced products. The average R & D expense rates of comparable companies in the same industry were 2.27%, 2.93%, 3.01% and 2.26% respectively.
Liansheng chemical said that the R & D expense rate of the company is slightly higher than that of comparable companies, mainly because the company is committed to the research and development of new products and new processes and attaches importance to the investment in R & D expenses. The chemical industry is a fully competitive industry. The introduction of new products and cost control are effective measures to face the fierce market competition. The company has a number of invention patents and utility model patents, and master the unique production process of multiple new products, so it can continuously launch new products when conditions are ripe to enhance profitability.
The prospectus shows that the company has mastered a number of core technologies in the R & D and production of fine chemicals such as deo, industrial NMP, electronic NMP and mixed diols. As of the signing date of the prospectus, the company has obtained 29 patents, of which 22 are invention patents.
two new shares on the science and technology innovation board were broken
Today, five new shares of Xinte electric, Hongde shares, Liansheng chemical, yingjixin and Jingwei Hengrun were officially listed and traded, and three new shares on the gem rose across the board, of which Xinte electric had the best rise, up 52.51% as of press time.
Two new shares of the science and technology innovation board, Jingwei Hengrun and yingjixin, both broke.
Among them, Jingwei Hengrun attracts the most attention. Jingwei Hengrun is a comprehensive electronic system technology service provider. Its main business focuses on electronic systems, focusing on providing electronic products, R & D services and solutions and overall solutions for high-level intelligent driving for customers in automobile, high-end equipment, unmanned transportation and other fields.
Jingwei Hengrun’s issuing price is 121 yuan, ranking sixth among the new shares listed on the internal medicine innovation board in, with a P / E ratio of 244.87 times. In addition to the high issue price and high P / E ratio, the number of abandoned purchases is also impressive. The announcement shows that Jingwei Hengrun online investors have abandoned the subscription of up to 3.2609 million shares, the amount of abandoned purchase is close to 400 million yuan, and the proportion of abandoned purchase has also reached a rare 108698%.
It is reported that Citic Securities Company Limited(600030) is the lead underwriter of Jingwei Hengrun’s offering, and Huaxing securities is the joint lead underwriter. The abandoned part will be jointly undertaken by the two securities companies. In addition, according to the announcement, Citic Securities Company Limited(600030) also invested 100 million yuan to strategically place 826400 shares of Jingwei Hengrun. According to the list of top 10 shareholders after issuance, Citic Securities Company Limited(600030) holds 2.9349 million shares of Jingwei Hengrun, accounting for 2.45% of the total share capital. Based on the closing price of 95.28 yuan at noon today, Citic Securities Company Limited(600030) floating loss is about 75.49 million yuan, and ordinary winning investors lose 12860 yuan.
