Jiangsu Juncheng Electronic Technology Co., Ltd
Announcement on initial public offering and listing on GEM
Sponsor (lead underwriter): Haitong Securities Company Limited(600837)
hot tip
Jiangsu Juncheng Electronic Technology Co., Ltd. (hereinafter referred to as "Juncheng technology", "issuer" or "company") in accordance with the measures for the administration of securities issuance and underwriting (CSRC order [No. 144], hereinafter referred to as the "administrative measures") and the measures for the administration of stock registration of initial public offering on GEM (Trial) (CSRC order [No. 167]) Special provisions on the issuance and underwriting of initial public offerings on the gem (CSRC announcement [2021] No. 21), detailed rules for the implementation of the issuance and underwriting of initial public offerings on the gem of Shenzhen Stock Exchange (revised in 2021) (SZS [2021] No. 919, hereinafter referred to as the "detailed rules") Detailed rules for the implementation of online issuance of initial public offerings in Shenzhen market (SZS [2018] No. 279, hereinafter referred to as "detailed rules for the implementation of online issuance"), code for underwriting of initial public offerings under the registration system (zzxf [2021] No. 213) The detailed rules for placement of initial public offering shares (zsxf [2018] No. 142) and the relevant provisions of Shenzhen Stock Exchange (hereinafter referred to as "Shenzhen Stock Exchange") on stock issuance and listing rules and the latest operation guidelines, organize the implementation of initial public offering shares and list them on the gem.
The online issuance is carried out through the trading system of Shenzhen Stock Exchange by means of subscription pricing according to market value. Online investors are requested to carefully read this announcement and the implementation rules for online issuance issued by Shenzhen Stock Exchange.
Investors are kindly requested to focus on the issuance process, online subscription and payment, disposal of share abandonment, etc., as follows:
1. This issuance adopts the method of online subscription and direct pricing issuance to public investors according to market value (hereinafter referred to as "online issuance"), and all shares are issued to public investors online without offline inquiry and placement.
2. The issuer and Haitong Securities Company Limited(600837) (hereinafter referred to as "sponsor (lead underwriter)" or " Haitong Securities Company Limited(600837) ") have negotiated and determined the issue price of 37.75 yuan / share by comprehensively considering the issuer's industry, market conditions, valuation level of Listed Companies in the same industry, demand for raised funds, underwriting risk and other factors. investor
Please purchase at this price through the trading system of Shenzhen Stock Exchange on January 18, 2022 (t day) and by means of online subscription according to market value. There is no need to pay the subscription fund during subscription. The online subscription date is January 18, 2022 (t day), and the online subscription time is 9:15-11:30, 13:00-15:00.
3. Online investors shall independently express their purchase intention and shall not fully entrust securities companies to purchase new shares on their behalf.
4. After winning the lot in the subscription of new shares, online investors shall perform the obligation of capital settlement in accordance with the announcement on the results of lottery in the initial public offering of shares by Jiangsu Juncheng Electronic Technology Co., Ltd. and listing on the gem (hereinafter referred to as the "announcement on the results of lottery in the online pricing issuance)", Ensure that its capital account has sufficient subscription funds for new shares on January 20 (T + 2) 2022, and the insufficient part shall be deemed as abandoning the subscription, and the resulting consequences and relevant legal liabilities shall be borne by the investors themselves. The investor's fund transfer shall comply with the relevant provisions of the securities company where the investor is located.
5. The shares abandoned by online investors shall be underwritten by the sponsor (lead underwriter). When the total number of shares paid and subscribed by online investors is less than 70% of the number of public offerings, the issuer and the recommendation institution (lead underwriter) will suspend the issuance of new shares and disclose the reasons for the suspension and subsequent arrangements.
6. If the online investor fails to make full payment after winning the lottery for 3 times in a row within 12 months, it shall not participate in the online subscription of new shares, depositary receipts, convertible corporate bonds and exchangeable corporate bonds within 6 months (calculated as 180 natural days, including the next day) from the next day of the settlement participant's latest declaration of abandonment of subscription.
7. The issuer and the recommendation institution (lead underwriter) solemnly remind investors to pay attention to investment risks and invest rationally, Please carefully read the special announcement on investment risk of initial public offering and listing on gem of Jiangsu Juncheng Electronic Technology Co., Ltd. published in China Securities Journal, Shanghai Securities Journal, securities times and Securities Daily on January 17, 2022 (t-1), fully understand the market risk and prudently participate in this IPO.
8. The issuer and the recommendation institution (lead underwriter) promise that there are no post meeting matters affecting the issuance.
Valuation and investment risk tips
1. According to the industry classification guidelines for listed companies (revised in 2012) issued by China Securities Regulatory Commission (hereinafter referred to as "CSRC"), Juncheng technology is in the industry of "computer, communication and other electronic equipment manufacturing" (C39). The static average p / E ratio of computer, communication and other electronic equipment manufacturing industry (C39) released by China Securities Index Co., Ltd. in the latest month is 49.39 times (as of January 13, 2022 (T-3)), which can be referred to by investors when making decisions. The issuance price of 37.75 yuan / share corresponds to the lower diluted P / E ratio of the parent net profit before and after deducting non recurring profits and losses in 2020, which is 42.61 times, lower than the static average p / E ratio of the industry in the latest month released by China Securities Index Co., Ltd. on January 13, 2022 (T-3), but there is still a risk that the decline of the issuer's share price will bring losses to investors in the future. 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. New share investment has great market risks. Investors need to fully understand the risks of new share investment and gem market, carefully study the risks disclosed in the issuer's prospectus, fully consider risk factors and prudently participate in this new share issuance.
2. The issuer issued 1814666700 new shares this time, and there is no transfer of old shares in this issue. The amount of capital required for the raised investment project plan of the issuer is 550 million yuan. According to the issuance price of 37.75 yuan / share, the issuer expects the total amount of funds raised to be 685036700 yuan. After deducting the estimated issuance cost of about 70.9059 million yuan (excluding value-added tax), the net amount of funds raised is expected to be about 614130800 yuan. The part exceeding the amount required by the plan of the raised investment project will be used for purposes related to the company's main business. 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.
3. If the issuer's raised funds are not used properly or its business cannot grow synchronously in the short term, it will have an adverse impact on the issuer's profitability or there is a risk of a significant decline in the issuer's return on net assets, resulting in a decline in the issuer's valuation level and stock price, resulting in the risk of investment loss to investors.
Important tips
1. Juncheng technology's application for initial public offering of RMB common shares (A shares) (hereinafter referred to as "this offering") has been examined and approved by the GEM Listing Committee of Shenzhen Stock Exchange, and has been approved for registration by China Securities Regulatory Commission (zjxk [2021] No. 4030). The sponsor (lead underwriter) of this offering is Haitong Securities Company Limited(600837) . The issuer's stock is referred to as "Juncheng technology" for short, and the stock code is "301106", which is used for online subscription of this issuance. The shares issued this time are planned to be listed on the gem of Shenzhen Stock Exchange. According to the industry classification guidelines for listed companies (revised in 2012) issued by the CSRC, Juncheng technology belongs to "computer, communication and other electronic equipment manufacturing industry (C39)".
2. The issuer and the sponsor (lead underwriter) negotiated and determined the number of 1814666700 shares to be issued, accounting for 25% of the total shares of the company after the issuance. Among them, 18.1465 million shares were issued online, accounting for 99.9991% of the total issued this time. The remaining 167 shares that do not reach the online subscription unit of 500 new shares in Shenzhen are underwritten by the sponsor (lead underwriter). After this public offering, the total share capital is 72586668 shares. All the shares issued this time are new shares, and the old shares are not transferred. The shares issued this time have no circulation restrictions and locking arrangements.
3. The issuer and the recommendation institution (lead underwriter) comprehensively consider the issuer's industry, market conditions, valuation level of Listed Companies in the same industry, demand for raised funds, underwriting risk and other factors, and negotiate to determine the issuance price of this online offering as 37.75 yuan / share. The price earnings ratio corresponding to this price is:
(1) 30.00 times (earnings per share is calculated by dividing the net profit attributable to shareholders of the parent company after deducting non recurring profits and losses audited by an accounting firm in accordance with Chinese accounting standards in 2020 by the total share capital before the issuance);
(2) 31.96 times (earnings per share is calculated by dividing the net profit attributable to shareholders of the parent company before deducting non recurring profits and losses audited by an accounting firm in accordance with Chinese accounting standards in 2020 by the total share capital before this issuance);
(3) 40.00 times (earnings per share shall be calculated by dividing the net profit attributable to shareholders of the parent company after deducting non recurring profits and losses audited by an accounting firm in accordance with Chinese accounting standards in 2020 by the total share capital after this issuance);
(4) 42.61 times (earnings per share is calculated by dividing the net profit attributable to shareholders of the parent company before deducting non recurring profits and losses audited by an accounting firm in 2020 in accordance with Chinese accounting standards by the total share capital after the issuance).
The price earnings ratio corresponding to this price does not exceed the industry average in the latest month published by China Securities Index Co., Ltd
4. Important issues of online distribution
The online subscription time of this offering is: 9:15-11:30 and 13:00-15:00 on January 18, 2022 (t day). Investors who open securities accounts in Shenzhen Branch of China Securities Depository and Clearing Corporation Limited (hereinafter referred to as "CSDCC Shenzhen Branch") before January 18, 2022 and hold the market value of non restricted A-Shares and non restricted depositary receipts in Shenzhen market on 20 trading days (including T-2) before January 14, 2022 (T-2) (except those prohibited by the laws and regulations of the people's Republic of China) can apply for the shares issued online through the trading system, and the natural person shall have opened the trading authority of the GEM market in accordance with the measures for the implementation of the appropriateness management of investors on the gem of Shenzhen Stock Exchange (revised in 2020) (except those prohibited by national laws and regulations). Online investors shall independently express their purchase intention and shall not fully entrust securities companies to purchase new shares on their behalf.
The investor shall determine the online subscription amount according to the market value of non restricted A-Shares and non restricted depositary receipts in Shenzhen market (hereinafter referred to as "market value"), and if the opening time of the investor's relevant securities account is less than 20 trading days, calculated according to the daily average market value of the investor 20 trading days (including T-2) before January 14, 2022 (T-2), The average daily holding market value is calculated according to 20 trading days. If an investor holds multiple securities accounts, the market value of multiple securities accounts shall be calculated jointly. The market value held by investors in relevant securities accounts shall be calculated by the product of the number of shares included in the market value calculation range in their securities accounts and the corresponding closing price. The online subscription limit shall be determined according to the market value held by investors. Only investors with a market value of more than 10000 yuan (including 10000 yuan) can participate in the subscription of new shares. One subscription unit can be subscribed for every 5000 yuan market value, and the part less than 5000 yuan is not included in the subscription limit. Each subscription unit shall be 500 shares, and the number of subscription shall be 500 shares or an integral multiple thereof, but the maximum subscription amount shall not exceed one thousandth of the number of shares issued online, that is, not more than 18000 shares, and shall not exceed the upper limit of the subscription amount calculated according to the market value. If the subscription amount exceeds the online subscription amount calculated according to the market value, CSDCC Shenzhen Branch will invalidate the excess. For the subscription entrustment of new shares whose subscription quantity exceeds the upper limit of subscription, the trading system of Shenzhen Stock Exchange will treat the entrustment as invalid and automatically revoke it.
During the subscription period, the investor shall fill in the entrustment form according to the entrusted purchase of shares and the determined issuance price. Once declared, the order shall not be cancelled.
Investors who participate in the subscription of online public offering shares can only use one securities account. If the same investor uses multiple securities accounts to participate in the subscription of the same new share, or if the investor uses the same securities account to participate in the subscription of the same new share for many times, the first subscription of the investor shall be valid, and the other subscriptions shall be invalid. If an investor holds multiple securities accounts, the market value of multiple securities accounts shall be calculated jointly. The principle of confirming that multiple securities accounts are held by the same investor is that the "account holder name" and "valid identity document number" in the securities account registration data are the same. The registration data of securities account shall be subject to the end of T-2 day.
The market value of the credit securities account of the margin trading customer is calculated into the market value held by the investor, and the market value of the refinancing guarantee securities detailed account of the securities company is calculated into the market value held by the securities company.
5. Online investor payment
After winning the lottery for the subscription of new shares, the investor shall perform the payment obligation in accordance with the announcement of online lottery results announced on January 20, 2022 (T + 2). When making payment, the online investor shall comply with the relevant provisions of the securities company where the investor is located. At the end of January 20 (T + 2) 2022, the successful investor shall ensure that its capital account has sufficient subscription funds for new shares, and the insufficient part shall be deemed to give up the subscription. The resulting consequences and relevant legal liabilities shall be borne by the investor.
If the online investor fails to make full payment after winning the lottery for 3 times in a row within 12 months, it shall not participate in the online subscription of new shares, depositary receipts, convertible corporate bonds and exchangeable corporate bonds within 6 months (calculated as 180 natural days, including the next day) from the next day of the settlement participant's latest declaration of abandonment of subscription. 6. Possible suspension of this offering
