Dezhou United Petroleum Technology Co., Ltd. (Jinghua South Road, Dezhou Economic Development Zone)
Listing announcement of initial public offering and listing on GEM
Sponsor (lead underwriter)
(No. 8, Financial Street, Xicheng District, Beijing)
hot tip
The shares of Dezhou United Petroleum Technology Co., Ltd. (hereinafter referred to as "Deshi shares", "the company", "the issuer" or "the company") will be listed on the gem of Shenzhen Stock Exchange on January 17, 2022. The market has high investment risk. GEM companies have the characteristics of unstable performance, high operation risk and high delisting risk, and investors are facing greater market risk. 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 reminds investors to fully understand the stock market risks 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 definitions of abbreviations or terms in this listing announcement are the same as those in the prospectus of the company's initial public offering of shares. 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
catalogue Section 1 important statements and tips four
1、 Important statements and tips four
2、 Special tips on investment risk at the initial stage of gem IPO four
3、 Special risk tips Section 2 stock listing eleven
1、 Review of stock registration and listing eleven
2、 Overview of stock listing twelve
3、 Listing criteria Section III information of the issuer, shareholders and actual controllers twenty-four
1、 Basic information of the issuer 24 II. Directors, supervisors and senior managers of the company and their holdings of shares and bonds of the company twenty-four
3、 Controlling shareholders and actual controllers of the company twenty-six
4、 Equity incentive plan and employee stock ownership plan twenty-nine
5、 Changes in the company's share capital structure before and after the issuance twenty-nine
6、 Shareholding of the top ten shareholders of the company after this issuance 41 VII. Senior managers and core personnel set up special asset management plans to participate in strategic placement forty-two
8、 Strategic placement of this offering Section 4 issuance of shares forty-three
1、 The number of shares in this public offering forty-three
2、 Issue price forty-three
3、 Par value per share forty-three
4、 Issue P / E ratio forty-three
5、 Issue price to book ratio forty-three
6、 Issuance method and subscription forty-four
7、 The total amount of raised funds and the verification of funds in place by Certified Public Accountants forty-four
8、 Total and detailed composition of issuance expenses, issuance expenses per share forty-five
9、 Net raised funds forty-five
10、 Net assets per share after issuance forty-five
11、 Earnings per share after issuance forty-five
12、 Over allotment rights Section V Financial and accounting data 46 section VI other important matters forty-seven
1、 Arrangements for the supervision agreement on the storage of raised funds in the special account forty-seven
2、 Other important matters Section 7 listed recommendation institutions and their opinions forty-nine
1、 Information of listed sponsors forty-nine
2、 Recommendation opinions of listed recommendation institutions forty-nine
3、 Continuously supervise the sponsor representative 49 Section VIII important commitments 51 I. commitment on the sale restriction arrangement, voluntary lock-in, shareholding and reduction intention of shares held by shareholders before this issuance fifty-one
2、 About the plan for stabilizing the stock price and the corresponding restrictive measures fifty-four
3、 Measures and commitments on share repurchase and share repurchase fifty-eight
4、 On the share repurchase commitment of fraudulent issuance and listing fifty-nine
5、 Measures and commitments to fill diluted immediate returns fifty-nine
6、 Commitment on profit distribution policy sixty-two
7、 Commitment to assume liability according to law sixty-six
8、 Failure to fulfill the commitment of public commitments and binding measures sixty-eight
9、 Other commitments seventy-one
Section I important statements and tips
1、 Important statements and tips
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 individual and joint legal liabilities.
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 http://www.cn.info.com.cn Www.cs.com.cn Securities Times (www.stcn. Com.) Securities Daily (www.zqrb. CN.) And Shanghai Securities News (www.cn. Stock. Com.) The contents of the "risk factors" chapter of the company's prospectus, pay attention to risks, make prudent decisions and make rational investment.
The company reminds the majority of investors that investors are invited to refer to the full text of the company's prospectus for relevant contents not involved in this listing announcement. 2、 Special tips on investment risk at the initial stage of gem IPO
The company reminds investors to pay attention to the investment risk at the initial stage of IPO (hereinafter referred to as "new shares"), and investors should fully understand the risk and rationally participate in the trading of new shares.
Specifically, the risks at the initial stage of listing include but are not limited to the following: (I) stock trading risks caused by the relaxation of price limit
The competitive trading of GEM stocks is subject to a wide range of rise and fall restrictions. For stocks that are IPO and listed on the gem, there are no rise and fall restrictions in the first five trading days after listing, and then the rise and fall restrictions are 20%.
On the first day of the listing of new shares on the main board of Shenzhen Stock Exchange, the increase limit was 44%, the decrease limit ratio was 36%, and then the increase and decrease limit was 10%. The gem further relaxed the limit on the rise and fall of stocks in the initial stage of listing, and improved the trading risk. (II) risk of small number of circulating shares
At the initial stage of listing, the share lock period of the original shareholders is 36 months or 12 months. After the issuance, the total share capital of the company is 150370510 shares, of which 35653571 shares are non tradable shares at the initial stage of the IPO, accounting for 23.71% of the total share capital after the issuance. At the initial stage of listing, the number of circulating shares is small, and there is a risk of insufficient liquidity. (III) risk that P / E ratio is higher than the average level of the same industry
The issuing price of this offering is 15.64 yuan / share, which does not exceed the median and weighted average of offline investors' quotation after excluding the highest quotation, as well as the securities investment fund, national social security fund, basic old-age insurance fund established through public offering after excluding the highest quotation The enterprise annuity fund established in accordance with the measures for the administration of enterprise annuity fund and the insurance fund quotation median and weighted average in accordance with the measures for the administration of the use of insurance funds, whichever is lower.
According to the industry classification guidelines for listed companies (revised in 2012) issued by the CSRC, the industry of the company is "special equipment manufacturing industry (C35)". As of December 29, 2021 (T-4), the static average p / E ratio of "special equipment manufacturing industry (C35)" issued by China Securities Index Co., Ltd. in the latest month is 43.00 times. As of December 29, 2021 (T-4), the P / E ratios of listed companies with similar main businesses are as follows:
The securities closed on behalf of T-4 in 2020, deducted in 2020, not deducted in 2020, not deducted in 2020. The abbreviated price of securities in 2020 (yuan / share) is not the pre EPS post EPS pre earnings ratio, not the post EPS pre earnings (yuan / share) (yuan / share) ratio
603036 Jiangsu Rutong Petro-Machinery Co.Ltd(603036) 9.69 0.33 0.27 29.36 35.89
603800 Suzhou Douson Drilling&Production Equipment Co.Ltd(603800) 21.25 0.02 -0.06 1,062.50 -354.17
688377 Nanjing Develop Advanced Manufacturing Co.Ltd(688377) 17.85 0.48 0.40 37.19 44.63
Average 33.28 40.26
Source: wind data, as of December 29, 2021
Note 1: if there is mantissa difference in the calculation of P / E ratio, it is caused by rounding;
Note 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;
Note 3: the extreme value ( Suzhou Douson Drilling&Production Equipment Co.Ltd(603800) ) is excluded when calculating the average value of P / E ratio.
The issuance price of 15.64 yuan / share corresponds to the lower diluted P / E ratio of the issuer before and after deducting non recurring profits and losses in 2020, which is 41.62 times, lower than the latest monthly average static P / E ratio of "special equipment manufacturing industry (C35)" issued by China Securities Index Co., Ltd. on December 29, 2021, and higher than the arithmetic average of the static P / E ratio of comparable companies after deducting non recurring profits and losses in 2020, The excess range is 3.38%, and there is a risk that the decline of the issuer's share price will bring losses to investors in the future.
There is a risk that the net asset scale will increase significantly due to the acquisition of raised funds, which will have an important impact on the issuer's production and operation mode, operation management and risk control ability, financial status, profitability and long-term interests of shareholders.
The issuer and the recommendation institution (lead underwriter) remind investors to pay attention to investment risks, carefully study and judge the rationality of issuance pricing, and make investment decisions rationally. (IV) there may be a risk of falling below the issue price after listing
Investors should pay full attention to the risk factors contained in the pricing marketization, know that the stock may fall below the issue price after listing, effectively improve the risk awareness, strengthen the value investment concept, and avoid blind speculation. Regulators, issuers and sponsors (lead underwriters) can not guarantee that the stock will not fall below the issue price after listing. (V) the risk that can be regarded 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 means that margin trading will aggravate the price fluctuation of the underlying stock; Market risk means that when investors use stocks as collateral for financing, they need to bear not only the risks caused by the changes in the original stock price, but also the risks caused by the changes in the stock price of new investment, and pay corresponding interest; Margin increase risk means that investors need to monitor the guarantee ratio level throughout the transaction process 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) industry cyclical risk
The company is mainly engaged in the R & D, production and sales of special equipment for oil drilling and production, and its main products are applied to the exploration and development of oil and natural gas. The market demand is directly affected by the scale of exploration and development expenditure of downstream oil and gas companies, and the violent fluctuation of oil and gas prices will generally affect the activity of oil and gas exploration and development activities, and then affect the market demand of oil drilling and production equipment.
The transmission mechanism of the impact of crude oil price on the oil capital investment and the oil drilling and production special equipment industry where the issuer is located is that when the oil price is high, oil and gas exploitation can obtain higher profits. Therefore, oil and gas exploitation companies are more willing to increase capital expenditure to strengthen the exploration and development of petroleum resources. Due to the uncertainty of oil price, Oil and gas production companies tend to increase production as much as possible in the stage of high oil prices, which drives the increase in demand for special equipment for oil drilling and production; When the oil price is low, the profit of oil and gas exploitation becomes worse or faces losses. Therefore, the willingness of oil and gas exploitation companies to spend capital decreases, which usually reduces the demand for corresponding equipment and services.
When the oil and gas price is in the high range, the improvement of the prosperity of the oil industry will bring more opportunities to the industry. On the contrary, it will reduce the demand for drilling and production equipment to a certain extent, resulting in fluctuations in the company's performance. Affected by the fluctuation of oil and gas prices and the economic development cycle outside China, the oil and gas industry has inherent cyclical characteristics. From March to April 2020, the international crude oil price fell rapidly from an average of more than $50 to less than $20, resulting in a year-on-year decrease in the exploration and development expenditure of the three listed oil companies in 2020
