Guangdong Yuehai feed Group Co., Ltd
Initial inquiry and recommendation announcement of IPO
Recommendation institution (lead underwriter): First Capital Securities Co.Ltd(002797) securities underwriting recommendation Co., Ltd
hot tip
Guangdong Yuehai feed Group Co., Ltd. (hereinafter referred to as "Yuehai group", "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 initial public offering and listing (CSRC order [No. 173]) The code for underwriting business of initial public offering (zxsf [2018] No. 142, hereinafter referred to as the "underwriting code"), the detailed rules for placing initial public offering shares (zxsf [2018] No. 142), the detailed rules for the administration of offline investors in initial public offering shares (zxsf [2018] No. 142, hereinafter referred to as the "detailed rules for the administration of investors") 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") The rules for the implementation of offline issuance of initial public offering in Shenzhen market (revised in 2020) (SZS [2020] No. 483, hereinafter referred to as the "rules for the implementation of offline issuance") and other relevant provisions organize the implementation of initial public offering.
The initial inquiry and offline issuance of this offering are conducted through the offline issuance electronic platform of Shenzhen Stock Exchange (hereinafter referred to as "Shenzhen Stock Exchange") and the registration and settlement platform of China Securities Depository and Clearing Co., Ltd. Shenzhen Branch (hereinafter referred to as "China Clearing Shenzhen Branch"). Offline investors are requested to carefully read this announcement. For details of preliminary inquiry and offline issuance, please refer to the website of Shenzhen Stock Exchange (www.szse. CN.) The published rules for the implementation of offline issuance and other relevant provisions.
First Capital Securities Co.Ltd(002797) securities underwriting and recommendation Co., Ltd. (hereinafter referred to as "Yichuang investment bank", "lead underwriter" or "sponsor (lead underwriter)") serves as the sponsor (lead underwriter) of this offering.
Investors are kindly requested to pay attention to the relevant provisions on the issuance process, online and offline subscription and payment, disposal of share abandonment, etc., as follows:
1. The offline issuance and Subscription Date and online subscription date are the same as January 27, 2022 (t day), in which the offline subscription time is 9:30-15:00, and the online subscription time is 9:15-11:30 and 13:00-15:00. Investors do not need to pay subscription funds when making online and offline subscription on January 27, 2022 (t day).
2. After the preliminary inquiry, the issuer and the recommendation institution (lead underwriter) shall, according to the preliminary inquiry results after excluding invalid quotations, quote all qualified placing objects from high to low according to the declared price, from small to large according to the proposed purchase quantity at the same declared price For the same declared price and the same proposed purchase quantity, the order shall be from the last to the first according to the declaration time (the declaration time shall be subject to the record of offline issuance electronic platform). The part with the highest quotation in the total proposed purchase quantity shall be excluded, and the excluded proposed purchase quantity shall not be less than 10% of the total proposed purchase quantity of offline investors. When the maximum declared price is the same as the determined issue price, the Declaration on the price can no longer be excluded, and the exclusion proportion can be less than 10%. The excluded part shall not participate in offline subscription.
3. Online investors shall independently express their purchase intention and shall not fully entrust securities companies to purchase new shares on their behalf.
4. The placing object shall comply with the industrial regulatory requirements, and the subscription amount shall not exceed the corresponding asset scale or capital scale.
5. Offline investors shall, in accordance with the announcement on preliminary placement results of offline issuance of initial public offering of shares by Guangdong Yuehai feed Group Co., Ltd. (hereinafter referred to as "announcement on preliminary placement results of offline issuance"), timely and fully pay the subscription funds for new shares according to the finally determined issuance price and allocated quantity before 16:00 on February 7 (T + 2) 2022.
After winning the subscription of new shares, online investors shall fulfill the obligation of capital settlement in accordance with the announcement of online winning results of initial public offering of shares by Guangdong Yuehai feed Group Co., Ltd. (hereinafter referred to as the announcement of online winning results), so as to ensure that their capital account will have sufficient new share subscription funds on February 7 (T + 2) 2022, The investor's fund transfer shall comply with the relevant provisions of the securities company where the investor is located.
Offline investors are allocated multiple new shares every day. Please pay in full for each new share. In the case of multiple new shares allocated on the same day, if only one total amount is remitted, the consolidated payment will lead to accounting failure, and the resulting consequences shall be borne by the investors themselves.
The shares that offline and online investors give up to subscribe for are underwritten by the lead underwriter.
6. When the total number of shares paid and subscribed by offline and online investors is less than 70% of the number of public offerings, the issuer and the lead underwriter will suspend the issuance of new shares and disclose the reasons for the suspension and subsequent arrangements. See "XII. Suspension of issuance" of this announcement for specific suspension terms.
7. If the offline investors with valid quotation fail to participate in the subscription and 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 lead underwriter shall report the breach of contract to the China Securities Association for the record.
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.
Valuation and investment risk tips
Investment in new shares has great market risks. Investors need to fully understand the investment risks of new shares, carefully study the risks disclosed in the issuer's prospectus, fully consider the following risk factors, and prudently participate in the valuation, quotation and investment of this new share issuance.
1. According to the industry classification guidelines for listed companies (revised in 2012) issued by China Securities Regulatory Commission, the industry of the company is "C13 agricultural and sideline food processing industry". China Securities Index Co., Ltd. has released the industry average p / E ratio. Please refer to it when making decisions. If the P / E ratio of this offering is higher than the industry average p / E ratio, there is a risk that the issuer's valuation level will return to the industry average p / E ratio in the future, and the decline of share price will bring losses to new share investors. 2. In 2020, the company achieved an operating revenue of 5843.7207 million yuan, a year-on-year increase of 15.34%; The net profit attributable to the shareholders of the parent company was 192.7418 million yuan, a year-on-year increase of 18.52%; After deducting non recurring profits and losses, the net profit attributable to shareholders of the parent company was RMB 164.024 million, a year-on-year increase of 13.59%.
From January to September 2021, the company realized an operating revenue of 5246.7953 million yuan, a year-on-year increase of 11.06%; The net profit attributable to the shareholders of the parent company was 159845300 yuan, a year-on-year increase of 0.14%; After deducting non recurring profits and losses, the net profit attributable to shareholders of the parent company was 140.4929 million yuan, a year-on-year increase of 0.91%.
The company's operating revenue and net profit have increased, mainly due to the continuous growth of revenue with the improvement of the company's brand awareness and product market recognition.
According to the preliminary calculation of the company, the operating revenue in 2021 is expected to be 6567132400 yuan, with a year-on-year increase of 12.38%; The net profit attributable to the shareholders of the parent company was 203.1702 million yuan, a year-on-year increase of 5.41%; After deducting non recurring profits and losses, the net profit attributable to shareholders of the parent company was 183170200 yuan, a year-on-year increase of 11.67%. The relevant financial data in the above 2021 annual performance forecast are the preliminary calculation results of the company, and the estimated number does not represent the final realizable income and net profit of the company, nor does it constitute the profit forecast of the company. As the duration and scope of covid-19 epidemic are still unclear, if the epidemic continues or intensifies further, it may have an adverse impact on the company's future production, operation and profitability.
Investors are hereby reminded to pay attention to the risk of performance fluctuation of the issuer, quote prudently and participate in decision-making rationally.
3. Investors shall fully understand the relevant laws and regulations on the issuance of new shares, carefully read the contents of this announcement, know the pricing principles and placement principles of this issuance, ensure that they are not prohibited from participating in offline inquiry before submitting the quotation, and ensure that their subscription quantity and future shareholding comply with the relevant laws and regulations and the provisions of the competent authorities. Once the investor submits the quotation, the lead underwriter shall be deemed as the investor's commitment: the investor's participation in the quotation complies with the provisions of laws and regulations and this announcement, and all violations and corresponding consequences arising therefrom shall be borne by the investor.
Important tips
1. The application of Guangdong Yuehai feed Group Co., Ltd. for the initial public offering of no more than 100 million RMB common shares (A shares) (hereinafter referred to as "this offering") has been approved by the CSRC's CSRC permit [2022] No. 110. The sponsor (lead underwriter) of this offering is Yichuang investment bank. The issuer's stock is abbreviated as "Yuehai group" with stock code of 001313, which is also used for preliminary inquiry, offline subscription and online subscription of this issuance.
2. This issuance is conducted by a combination of offline inquiry and placement to qualified investors (hereinafter referred to as "offline issuance") and online pricing issuance to social public investors holding non restricted A-Shares and non restricted depositary receipts in Shenzhen market with a certain market value (hereinafter referred to as "online issuance"). The issuer and the lead underwriter will directly determine the issuance price through offline preliminary inquiry, and offline cumulative bidding inquiry will not be conducted. The preliminary inquiry and offline issuance shall be organized and implemented by the lead underwriter through the offline issuance electronic platform of Shenzhen Stock Exchange (hereinafter referred to as "offline issuance electronic platform"), and the online issuance shall be conducted through the trading system of Shenzhen Stock Exchange.
Qualified offline investors are invited to participate in the preliminary inquiry and offline subscription of this offering through the offline issuance electronic platform of Shenzhen Stock Exchange. The time of quotation and inquiry through the offline issuance electronic platform is 09:30-15:00 on each trading day during the preliminary inquiry and offline subscription period. Please refer to the website of Shenzhen Stock Exchange (www.szse. CN.) for relevant operation measures of offline issuance electronic platform The relevant provisions of the published rules for the implementation of offline issuance.
3. This public offering of 100 million shares, all of which are new shares, will not arrange the transfer of old shares. The total share capital after this public offering is 70 million shares, and the proportion of the number of shares in this public offering in the total share capital after the issuance of the company shall not be less than 10.00%, specifically 14.29%.
The initial number of offline shares issued this time is 70 million, accounting for 70% of the total issued this time; The initial number of shares issued online was 30 million, accounting for 30% of the total issued this time. Offline and online investors do not need to pay subscription funds at the time of subscription.
4. Offline roadshow promotion is not arranged for this release. The issuer and the lead underwriter will organize the online roadshow of this offering on January 26, 2022 (t-1). For specific information about the online roadshow, please refer to the online roadshow announcement on initial public offering of shares of Guangdong Yuehai feed Group Co., Ltd. (hereinafter referred to as "online roadshow announcement") published on January 25, 2022 (T-2).
5. The recommendation institution (lead underwriter) has formulated the standards for offline investors in accordance with the requirements of the administrative measures, underwriting specifications and other relevant systems. See "III. qualification conditions and verification procedures for offline investors" in this announcement for specific standards and arrangements. Only investors who meet the offline investor standards determined by the lead underwriter and the issuer can participate in the preliminary inquiry of this offering. Those who participate in the initial inquiry of this offering without meeting the relevant standards shall bear all the consequences caused by this behavior. The lead underwriter will set its quotation as invalid on the offline issuance electronic platform, and disclose the relevant information in the announcement on the issuance of initial public offering of Guangdong Yuehai feed Group Co., Ltd. (hereinafter referred to as the "issuance announcement").
Investors are reminded that all investors who participate in the offline preliminary inquiry of this issuance are deemed to have recognized and promised to meet the requirements of relevant laws and regulations and this announcement. The investor shall guarantee the authenticity, accuracy and completeness of the materials submitted. The lead underwriter will check whether the offline investors are prohibited before the preliminary inquiry and placement, and require the offline investors to provide qualified commitment letters and supporting materials. If the offline investors refuse to cooperate in the verification or the materials provided by them are not enough to exclude the existence of prohibitive circumstances, or do not meet the placement qualification after verification, the lead underwriter will refuse them to participate in the preliminary inquiry and placement of this offering.
Offline investors must pass the Yichuang investment bank investor platform before 12:00 on January 20 (T-5) 2022（ https://investor.fcscib.com. ）Complete registration and submit verification materials. See "III. (II) submission of offline investor qualification verification materials" in this announcement for specific operation methods.
6. The initial inquiry time of this offering is 9:30-15:00 on January 21, 2022 (T-4). Within the above-mentioned time, qualified offline investors decide whether to participate in the preliminary inquiry, and determine the declared price and the quantity to be purchased by themselves. Those who participate in the preliminary inquiry must make a unified declaration through the offline issuance electronic platform in accordance with the regulations, and bear the corresponding legal liabilities.
7. The quotation of offline investors and their managed placing objects shall include the price per share and the number of shares to be purchased corresponding to the price, and there can only be one quotation, in which non individual investors shall quote in the unit of institutions. Once the relevant declaration is submitted, it shall not be revoked in full. If the quotation needs to be adjusted for special reasons, the specific reasons shall be filled in on the offline distribution electronic platform.
Considering the initial offline issuance quantity in the preliminary inquiry stage and the valuation of the issuer by Yichuang investment bank, the lead underwriter sets the minimum proposed subscription quantity of each placement object managed by offline investors as 6 million shares and the minimum change unit of the proposed subscription quantity as 100000 shares, That is, the part of the placing object designated by offline investors whose proposed subscription number exceeds 6 million shares must be an integral multiple of 100000 shares and shall not exceed 12 million shares. The minimum change unit of the declared price of offline investors is 0.01 yuan.
8. The issuer and the lead underwriter shall, according to the preliminary inquiry results after excluding invalid quotations, declare the quotations of all qualified placing objects in accordance with the
