Yidong Electronic Technology Co., Ltd
Initial public offering and listing on GEM
Announcement of preliminary placement results of offline issuance
Sponsor (lead underwriter): China Merchants Securities Co.Ltd(600999)
hot tip
The application of Yidong Electronic Technology Co., Ltd. (hereinafter referred to as “Yidong Electronics”, “issuer” or “company”) for initial public offering of no more than 58.4 million common shares (A shares) and listing on the gem (hereinafter referred to as “this offering”) has been examined and approved by the GEM Listing Committee of Shenzhen Stock Exchange (hereinafter referred to as “Shenzhen Stock Exchange”), It has been approved for registration by China Securities Regulatory Commission (zjxk [2021] No. 3938).
This issuance finally adopts directional placement to strategic investors (hereinafter referred to as “strategic placement”) Offline inquiry placement to qualified investors (hereinafter referred to as “offline issuance”) and online pricing issuance to social public investors holding non restricted A-Shares or non restricted depositary receipts in Shenzhen market (hereinafter referred to as “online issuance”).
The issuer negotiated with the recommendation institution (lead underwriter) China Merchants Securities Co.Ltd(600999) (hereinafter referred to as ” China Merchants Securities Co.Ltd(600999) ” or “recommendation institution (lead underwriter)”) to determine that the number of shares issued this time is 58.4 million. The issue price is 37.23 yuan / share. The issuing price of this offering shall 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 (hereinafter referred to as the “four values”) in accordance with the measures for the administration of the use of insurance funds, whichever is lower. Relevant subsidiaries of the sponsor need not participate in this strategic placement.
The strategic placement of this offering is a special asset management plan for the issuer’s senior managers and core employees, and the relevant subsidiaries of the sponsor do not participate in the strategic placement. The initial number of strategic placement shares issued in this issuance was 8.76 million, accounting for 15.00% of the issued number. The final number of strategic placement was 4294923 shares, accounting for 7.35% of the number of shares issued this time. The difference between the initial strategic placement and the final strategic placement of 446507700 shares will be transferred back to offline issuance.
After the strategic placement callback and before the online and offline callback mechanism is launched, the initial offline issuance number is 39213077 shares, accounting for 72.48% of the current issuance after deducting the strategic placement number; The initial number of shares issued online was 14892000, accounting for 27.52% of the number of shares issued this time after deducting the number of strategic placements.
According to the callback mechanism announced in the announcement of Yidong Electronic Technology Co., Ltd. on initial public offering and listing on the gem (hereinafter referred to as the “issuance announcement”), since the initial effective subscription multiple on the Internet is 8555.20051 times, higher than 100 times, the issuer and the sponsor (lead underwriter) decided to start the callback mechanism, After deducting the final strategic placement, 20.00% (rounded up to an integral multiple of 500 shares, i.e. 10821500 shares) of the number of shares issued this time will be transferred back from the offline to the online. After the call back, the final number of offline shares issued was 28391577, accounting for 52.47% of the total issued after deducting the final strategic placement; The final online issuance was 25713500 shares, accounting for 47.53% of the total issuance after deducting the final strategic placement. After the call back, the winning rate of this online pricing issuance is 0.0201826400%, and the effective subscription multiple is 4954.75318 times.
Investors are kindly requested to pay attention to the payment process of this offering and fulfill their payment obligations on January 14, 2022 (T + 2):
1. According to this announcement, offline allocated investors shall timely and fully pay the subscription funds for new shares according to the final issuance price of 37.23 yuan / share and the allocated quantity before 16:00 on January 14 (T + 2) 2022.
The subscription funds shall be paid in full within the specified time. If the subscription funds are not paid in full within the specified time or as required, all the new shares allocated to the placing object shall be invalid. If the above circumstances occur when multiple new shares are issued on the same day, all the placing objects are invalid. If different placing objects share bank accounts, if the subscription funds are insufficient, the new shares allocated to the placing objects sharing bank accounts will be invalid. Offline investors are allocated multiple new shares on the same day. Please pay for each new share separately.
The shares that offline and online investors give up to subscribe for shall be underwritten by the sponsor (lead underwriter).
2. Among the shares issued this time, the shares issued online have no circulation restrictions and restricted sales period arrangements, and can be circulated from the date of listing of the shares issued this time on the Shenzhen Stock Exchange.
The offline issuance part adopts the proportional sales restriction method, and the offline investors shall promise that the sales restriction period of 10% (rounded up) of the number of shares allocated to them is 6 months from the date of the issuer’s initial public offering and listing. That is, among the shares allocated to each placing object, 90% of the shares are sold indefinitely and can be circulated from the date when the issued shares are listed and traded on the Shenzhen Stock Exchange; The sales restriction period of 10% of the shares is 6 months, which shall be calculated from the date of listing and trading of the issued shares on the Shenzhen Stock Exchange.
When offline investors participate in the preliminary inquiry and quotation and offline subscription, they do not need to fill in the arrangement of the sales restriction period for the placing objects under their management. Once the quotation is made, it is deemed to accept the arrangement of the online sales restriction period disclosed in this announcement.
In terms of strategic placement, the special asset management plan established by the issuer’s senior managers and core employees participating in the strategic placement is the collective asset management plan of China Merchants asset management and Yidong electronic employees participating in the strategic placement on the gem (hereinafter referred to as “Yidong electronic employees and asset allocation management plan”), and the sales restriction period of the allocated shares is 12 months. The restricted sale period shall be calculated from the date when the shares issued to the public are listed on the Shenzhen Stock Exchange.
3. When the total number of shares paid and subscribed by offline and online investors is less than 70% of the number of public offerings after deducting the final strategic placement, the issuer and the sponsor (lead underwriter) will suspend the issuance of new shares and disclose the reasons for the suspension and subsequent arrangements.
4. If the offline investors who provide effective quotation fail to participate in the subscription or the offline investors who obtain the preliminary placement fail to pay the subscription amount in time and in full, it will be deemed as a breach of contract and shall bear the liability for breach of contract. The recommendation institution (lead underwriter) shall report the breach of contract to the China Securities Association for the record. The number of violations of placing objects in various sectors of the stock market of Beijing stock exchange (hereinafter referred to as “Beijing stock exchange”), Shanghai Stock Exchange (hereinafter referred to as “Shanghai Stock Exchange”) and Shenzhen Stock Exchange shall be calculated together. During the period of being included in the restricted list, the relevant placing objects shall not participate in the offline inquiry and subscription of relevant projects in all sectors of the stock market of Beijing stock exchange, Shanghai Stock Exchange and Shenzhen Stock Exchange.
5. Once this announcement is published, it shall be deemed to have served the notice of allocated payment to the offline investors who have participated in the offline subscription.
1、 Final result of strategic placement
The issuing price of this offering does not exceed the lower of the “four values”, so the relevant subsidiaries of the sponsor need not participate in this strategic placement. According to the final issue price, the final strategic placement of the special asset management plan for senior management and core employees of the issuer was 4294923 shares, accounting for 7.35% of the issue.
As of January 7, 2022 (T-3), strategic investors have paid their subscription funds in full and on time. According to the relevant agreements in the strategic placement agreement signed by the issuer, the sponsor (lead underwriter) and the strategic investor, the strategic placement results of this issuance are determined as follows:
Serial no. Name of strategic investor number of allocated shares (shares) amount allocated (yuan) sales restriction period
1 Yidong electronic employee war allocation management plan 4294923 159899983.29 12 months
Total 4294923 159899983.29 –
Note: the restricted period shall be calculated from the date when the shares issued to the public are listed on the Shenzhen Stock Exchange.
The sponsor (lead underwriter) will return the excess payment according to the original payment path of the strategic investor before January 18, 2022 (T + 4).
2、 Offline issuance and subscription and preliminary placement results
(I) offline issuance and subscription
According to the measures for the administration of securities issuance and underwriting (CSRC order [No. 144]), the special provisions on the issuance and underwriting of initial public offerings on the gem (CSRC announcement [2021] No. 21), the implementation rules for the issuance and underwriting of initial public offerings on the gem of Shenzhen Stock exchange (revised in 2021) (SZS [2021] No. 919) Detailed rules for the implementation of offline issuance of initial public offerings in Shenzhen market (revised in 2020) (SZS [2020] No. 483), code for underwriting of initial public offerings under the registration system (zsxf [2021] No. 213), detailed rules for the management of offline investors in initial public offerings (zsxf [2018] No. 142) The sponsor (lead underwriter) has verified and confirmed the qualification of investors participating in offline subscription according to the relevant provisions such as the management rules for offline investors of initial public offering under the registration system (zzxf [2021] No. 212) and the detailed rules for placement of initial public offering (zzxf [2018] No. 142). According to the effective subscription results finally received by the offline issuance electronic platform of Shenzhen Stock Exchange, the sponsor (lead underwriter) makes the following statistics:
The offline subscription of this offering has been completed on January 12, 2022 (t day). All the 6401 effective offer placement objects managed by 277 offline investors disclosed in the issuance announcement have made offline subscription, with a total amount of 80419600000 shares.
After verification, four of the placing objects are listed in the “customs declaration” issued by China Securities Association on January 10, 2022
In the first half of 2021, the relevant qualifications were suspended or cancelled in the notice on the self inspection of the appropriateness of recommended offline investors (Zhong Zheng Xie Fa [2022] No. 2), which is invalid subscription. The specific list is as follows:
Serial number name of investor name of placing object number of securities account subscription
(10000 shares)
1 Shanghai Panjing investment management center Panshi phase 2 private securities investment fund 0899259924 900
(limited partnership) No. 2
2 Shanghai Panjing investment management center Panshi phase 2 private securities investment fund 0899259953 890
(limited partnership) No. 1
3 Guangzhou Xuanyuan investment management has Xuanyuan Baishun No. 1 private securities investment 0899239551 200
Limited company fund
4 Guangzhou Xuanyuan investment management has Xuanyuan Kexin No. 25 private securities investment 0899209662 170
Limited company fund
Total 2160
After excluding the above placing objects, 6397 placing objects managed by the remaining 277 offline investors are
Effective subscription, the total amount of subscription is 80398 million shares.
(II) preliminary offline placement results
According to the initial public offering and listing on the gem of Yidong Electronic Technology Co., Ltd
The offline placement principles and calculation methods published in the price and promotion announcement, the issuer and the recommendation institution (lead underwriter)
(merchant) has made a preliminary placement of offline issued shares, and various offline investors have made effective subscription and preliminary placement results
The following table:
The number of shares effectively subscribed by the placing object accounts for the total number of effective subscriptions, and the proportion of the number of shares initially allocated to the number of placement types (10000 shares) finally issued by various investors offline (shares)
Class a investors 5468300 68.02% 19901607 70.10% 0.03639450%
Class B investors 12820 0.16% 46326 0.16% 0.03613573%
Class C investors 2558680 31.83% 8443644 29.74% 0.03300000%
Total 8039800 100.00% 28391577 100.00% –
The above preliminary placement arrangements and results comply with the placement principles announced in the preliminary inquiry and promotion announcement,
Among them, 577 zero shares were allocated to “Ruiyuan Wenjin” in accordance with the allocation principle in the preliminary inquiry and promotion announcement
Two year holding hybrid securities investment fund “.
See “attached table: preliminary placement details of offline investors” for the allocation of each placement object
