Stock abbreviation: Dongtian micro stock code: 301183 Hubei Dongtian Micro Technology Co., Ltd
(No. 188, south section of changban Road, Yuquan office, Dangyang city)
Initial public offering and listing on GEM
Listing announcement
Sponsor (lead underwriter)
(24 / F, building 2, Oriental International Financial Plaza, 318 Zhongshan South Road, Shanghai)
May, 2002
hot tip
The shares of Hubei Dongtian Micro Technology Co., Ltd. (hereinafter referred to as "Dongtian micro", "the company" or "the company") will be listed on the gem of Shenzhen Stock Exchange on May 24, 2022. The company reminds investors to fully understand the risks of the stock market 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 abbreviations or terms in this listing announcement have the same meanings as those in the prospectus of the company's initial public offering of shares and listing on the gem.
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.
Section I important statements and tips
1、 Important statement
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 legal liabilities according to law.
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 cninfo.com（ http://www.cn.info.com.cn. ）, China Securities Network (www.cs. Com. CN.) China Securities Network (www.cn. Stock. Com.) Securities Times (www.stcn. Com.) Securities Daily (www.zqrb. CN.) Economic reference network (www.jjckb. CN.) The contents of the "risk factors" chapter of the company's prospectus should pay attention to risks, make prudent decisions and make rational investment.
The company reminds the majority of investors to pay attention to the relevant contents not involved in this listing announcement. Please refer to the full text of the company's prospectus. 2、 Special tips on investment risk at the initial stage of gem IPO
The offering price corresponds to the issuer's diluted static P / E ratio of the lower of the net profit attributable to the parent in 2021, which is 30.06 times lower than the arithmetic average of the static P / E ratio of comparable listed companies in 2021; The rolling P / E ratio calculated by the corresponding issuer based on the lower of the net profit attributable to the shareholders of the parent company from April 2021 to March 2022 is 31.65 times, which is lower than the arithmetic average of the rolling P / E ratio of comparable listed companies in the corresponding period.
① The comparison with the static P / E ratio of comparable listed companies is as follows:
The first 20 securities in the brief are not deducted in 2021, and the corresponding securities code before deduction is not deducted in 2021. It is called EPS static P / E ratio before EPS and after EPS static P / E ratio (Times) (yuan / share) (yuan / share) (Times)
Zhejiang Crystal-Optech Co.Ltd(002273) .SZ Zhejiang Crystal-Optech Co.Ltd(002273) 9.58 0.32 0.27 30.13 36.14
Hubei W-Olf Photoelectric Technology Co.Ltd(002962) .SZ Hubei W-Olf Photoelectric Technology Co.Ltd(002962) 9.76 0.29 0.24 33.93 40.75
Hangzhou Mdk Opto Electronic Corporation Limited(688079) .SH Hangzhou Mdk Opto Electronic Corporation Limited(688079) 10.41 0.25 0.23 41.81 45.63
Arithmetic mean 35.29 40.84
301183.sz Dongtian micro 22.92 0.86 0.76 26.52 30.06
Data source: wind information, periodic reports of comparable companies and prospectus. The data is as of May 10, 2022.
Note 1: average price in the first 20 trading days (including the current day) = total transaction volume in the first 20 trading days (including the current day) / total transaction volume in the first 20 trading days (including the current day);
Note 2: if there is mantissa difference in the calculation of P / E ratio, it is caused by rounding;
Note 3: EPS before / after deduction of non recurring profit and loss in 2021 = net profit attributable to parent company before / after deduction of non recurring profit and loss in 2021 ÷ total share capital on May 10, 2022;
Note 4: the comparable companies in the same industry selected in the prospectus also include Jingbang optoelectronics, which is a company under review on the gem rather than a listed company. Therefore, Jingbang optoelectronics is not listed in the table, the same below.
Note 5: the P / E ratio of the issuer is calculated according to the issuing price of 22.92 yuan / share and the total share capital of 80 million shares after the issuance.
② The comparison with the rolling P / E ratio of comparable listed companies is as follows:
Securities code after deduction corresponding to non deduction corresponding to non deduction before deduction in the first 20 trading days securities abbreviation: average price eps-ttm eps-ttm rolling P / E ratio rolling P / E ratio (yuan / share) (yuan / share) (Times) (Times)
Zhejiang Crystal-Optech Co.Ltd(002273) .SZ Zhejiang Crystal-Optech Co.Ltd(002273) 9.58 0.33 0.27 28.95 35.97
Hubei W-Olf Photoelectric Technology Co.Ltd(002962) .SZ Hubei W-Olf Photoelectric Technology Co.Ltd(002962) 9.76 0.25 0.20 39.25 48.81
Hangzhou Mdk Opto Electronic Corporation Limited(688079) .SH Hangzhou Mdk Opto Electronic Corporation Limited(688079) 10.41 0.22 0.19 47.65 53.64
Arithmetic mean 38.62 46.14
301183.sz Dongtian micro 22.92 0.82 0.72 27.85 31.65
Data source: wind information, periodic reports of comparable companies and prospectus. The data is as of May 10, 2022.
Note 1: average price in the first 20 trading days (including the current day) = total transaction volume in the first 20 trading days (including the current day) / total transaction volume in the first 20 trading days (including the current day);
Note 2: if there is mantissa difference in the calculation of P / E ratio, it is caused by rounding;
Note 3: eps-ttm before / after deduction = net profit attributable to parent company before / after deduction of non recurring profit and loss from April 2021 to March 2022 ÷ total share capital on May 10, 2022;
Note 4: the price earnings ratio of the issuer is calculated according to the issuing price of 22.92 yuan / share and the total share capital of 80 million shares after the issuance.
The issuance price of 22.92 yuan / share corresponds to the issuer's audited diluted P / E ratio of net profit attributable to shareholders of the parent company before and after deducting non recurring profits and losses in 2021, which is 30.06 times, which is lower than the average static P / E ratio of C39 computer, communication and other electronic equipment manufacturing industry released by China Securities Index Co., Ltd. on May 10 (T-3) 2022, It is also 40.84 times lower than the arithmetic mean value of the static P / E ratio of comparable listed companies (as of May 10, 2022) in 2021 after deducting non earnings, but there is still 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.
The company reminds investors to pay attention to the investment risks in the initial stage of IPO (hereinafter referred to as "new shares"), and investors should fully understand the risks and rationally participate in the trading of new shares. Specifically, the risks at the initial stage of the company's IPO include but are not limited to the following:
1. Stock trading risk caused by the relaxation of price limit
The competitive trading of GEM stocks is subject to a wide range of rise and fall limits. For stocks that are IPO and listed on the gem, there is no rise and fall limit in the first five trading days after listing, and then the rise and fall limit is 20%. On the first day of listing of new shares on the main board of Shenzhen Stock Exchange, the increase limit proportion is 44%, the decrease limit proportion is 36%, and the increase and decrease limit is 10% from the next trading day. Gem further relaxed the restrictions on the rise and fall of stocks in the initial stage of listing, and increased the trading risk.
2. Risk of a small number of circulating shares
After this issuance, the total share capital of the company is 80 million shares, of which 20 million shares are tradable without restrictions, accounting for 25.00% of the total shares. At the initial stage of listing, the number of circulating shares is small, and there is a risk of insufficient liquidity.
3. 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 refers to that margin trading will aggravate the price fluctuation of the underlying stock; Market risk refers to that when investors use stocks as collateral for financing, they need to bear not only the risks caused by the change of the original stock price, but also the risks caused by the change of the stock price of new investment, and pay the corresponding interest; Margin call risk means that investors need to monitor the level of guarantee ratio in the whole process of trading 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.
4. This offering may have the risk of falling below the offering 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 recommendation institutions (lead underwriters) can not guarantee that the stock will not fall below the issue price after listing. 3、 Special risk tips
The company reminds investors to carefully read the "risk factors" part of the prospectus and pay special attention to the following matters:
(I) risk of significant adverse changes to Ofilm Group Co.Ltd(002456) the issuer's important customers
From 2018 to 2020, Ofilm Group Co.Ltd(002456) was the issuer's largest customer. The issuer's sales revenue of Ofilm Group Co.Ltd(002456) was 361209 million yuan, 1073957 million yuan and 1831473 million yuan respectively, accounting for 26.49%, 37.76% and 39.99% of the operating revenue respectively, accounting for a relatively high proportion. The main reason is that Ofilm Group Co.Ltd(002456) has been the first in China's smartphone camera module shipment market for many years, and there is a large demand for the purchase of filters, Limited by the limited capacity scale, the issuer pursues the big customer strategy, concentrates resources and gives priority to serving market leading customers, so as to improve customer stickiness, improve its business scale and establish market popularity. As a result, Ofilm Group Co.Ltd(002456) accounts for a high proportion of the issuer's business.
On March 17, 2021, Ofilm Group Co.Ltd(002456) publicly disclosed that it had received a notice from a specific overseas customer who planned to terminate the procurement relationship with Ofilm Group Co.Ltd(002456) and its subsidiaries from March 2021. From 2018 to 2020, Ofilm Group Co.Ltd(002456) sales revenue to specific customers accounted for 19.35%, 22.54% and 30.01% of operating revenue respectively. On March 29, 2021, the 44th (Interim) meeting of the Fourth Board of directors of Ofilm Group Co.Ltd(002456) deliberated and adopted the proposal on selling the equity and assets of subsidiaries, and signed the equity transfer agreement and asset purchase agreement with Wingtech Technology Co.Ltd(600745) Wingtech Technology Co.Ltd(600745) . The business entities and assets related to specific business customers were sold to Wingtech Technology Co.Ltd(600745) at a total price of 2.42 billion yuan. As of May 31, 2021, Both parties have completed the delivery and payment procedures of equity and assets of relevant business entities. The termination of the procurement relationship between specific customers and Ofilm Group Co.Ltd(002456) will have a significant adverse impact on Ofilm Group Co.Ltd(002456) 's business performance and camera module shipment in the short term.
During the reporting period, after the issuer's products were sold to Ofilm Group Co.Ltd(002456) the products were finally mainly used in smart phones such as Xiaomi, Huawei and vivo, among which Xiaomi brand phones accounted for about 65% - 70%. The issuer's products were not used in the brand smart phones of the above specific customers
