It is not only a long way for a company to receive listing materials and issue them, but also a journey of practice. The speed of some companies is unprecedented, and the meeting will be held in more than 20 days; Some companies take the initiative to withdraw their application materials on the way home; In addition, the company was exposed due to various non-standard operations, and was finally torn off
At present, the A-share registration system is implemented on the science and innovation board and the gem. Generally speaking, under the registration system, the “inquiry reply” will go through multiple rounds of repetition, and then fall on the municipal Party committee meeting, fail to submit the registration, and take the initiative to withdraw the application materials and terminate the listing road.
The reporter of “daily economic news” took the week as the unit to sort out the companies that held the meeting last week, were accepted or not, and the new materials were accepted. Last week (January 17 to January 23, the same below), 9 companies held the meeting, including 8 companies, and one company of Shenzhen Xinghe Automation Co., Ltd. (hereinafter referred to as Xinghe Co., Ltd.) was cancelled the audit.
In terms of IPO acceptance, only one new company to be IPO was added last week, namely Hengchang pharmaceutical, which plans to land on the gem. In terms of the performance of new shares, pharmaceutical new shares broke again last week, and Maiwei biology fell 29.6% on the first day of listing.
This week, the number of enterprises planning to attend the meeting reached 15. Among them, there are 3 mainboards, 4 scientific innovation boards and 8 gem. In terms of subscription of new shares, five new shares were subscribed this week. Among them, the issue price of Sanyuan biology and Dongwei semi guide is more than 100 yuan.
Last week, eight companies held a meeting, and Dongtian micro was concerned about the reasons for the decline in its later performance
Last week, nine companies arranged for the meeting, eight of which attended the meeting. Among them is Hubei Dongtian Micro Technology Co., Ltd. (hereinafter referred to as Dongtian micro).
According to the prospectus, Dongtian Weicheng was established in 2009 and is mainly engaged in the business of precision photoelectric thin film components. In 2019, the listed company Shenzhen Hekeda Precision Cleaning Equipment Co.Ltd(002816) (002816, SZ) had planned to acquire 100% equity of Dongtian micro at a price of no more than RMB 351 million, but the transaction was terminated because it was difficult for both parties to reach an agreement on core terms. After that, the valuation of Dongtian micro rose rapidly to 1 billion yuan in 2020.
In recent years, Ofilm Group Co.Ltd(002456) (002456, SZ) has been the largest customer of Dongtian micro. In 2020, the sales of Ofilm Group Co.Ltd(002456) accounted for about 40% of the overall sales of Dongtian micro. In March 2021, Ofilm Group Co.Ltd(002456) was kicked out of the “fruit chain”, which once plunged the share price of Ofilm Group Co.Ltd(002456) and damaged the company’s performance. According to the financial report of Ofilm Group Co.Ltd(002456) , from January to September 2021, the company lost at least about 40 million yuan.
Affected by this, Dongtian micro’s sales revenue of Ofilm Group Co.Ltd(002456) also fell sharply. From January to September 2021, the company’s revenue to it was 74.8602 million yuan, a decrease of 43.65% compared with the same period in 2020. Dongtian micro predicts that the sales revenue of Ofilm Group Co.Ltd(002456) in 2021 will be 100 million yuan, a decrease of about 45% compared with 2020.
In this regard, at the review meeting on January 20, the gem municipal Party committee also pointed out that during the reporting period, the operating revenue and profit of Dongtian micro increased rapidly, but the performance of Dongtian micro declined after the reporting period. The company is required to explain the reasons, trends, countermeasures and impact on the ability of sustainable operation.
Last week, eight companies had a meeting, and one company was cancelled. The weekly meeting rate of IPO reached 88.89%.
Huang Bang: Xinghe shares were canceled the audit
The number of companies that terminated IPO last week was large, reaching 5. Among them, Xinghe shares. Xinghe Co., Ltd., founded in 2006, is an enterprise mainly engaged in the R & D, design, manufacturing and sales of industrial automation equipment and supporting accessories and fixtures. This IPO has attracted much market attention because Xinghe is an apple chain supplier and has a deep dependence on this identity.
Originally, on January 21, 2022, the municipal Party Committee on the gem will consider the IPO of Xinghe shares. However, on the evening of January 20, just before Xinghe’s IPO will be tried, the Shenzhen Stock Exchange issued a sudden supplementary announcement that it would cancel the audit of Xinghe’s IPO at the upcoming gem municipal Party committee meeting the next day.
For the reasons for canceling the audit, the Shenzhen Stock Exchange gave the reason that “in case of any situation involving Article 20 of the measures for the administration of the GEM Listing Committee of the exchange, the review of the application for issuance and listing of Xinghe shares shall be cancelled in accordance with relevant procedures.” According to Article 20 of the measures for the administration of GEM Listing Committee, “if the review meeting cannot be held as scheduled due to force majeure, accidents or other special circumstances, the exchange may arrange or cancel the meeting separately”.
What is the so-called “force majeure” event that Xinghe shares was temporarily suspended the night before the IPO audit? According to media reports, it may be related to the fact that Beijing Jindu law firm, an intermediary law firm of Xinghe’s IPO, is rumored to be involved in LETV’s fraud and has been filed for investigation a few days ago.
In fact, the hard power of Xinghe shares is also controversial. In terms of performance, Xinghe shares recorded a net profit of more than 100 million from 2018 to 2020, but after 2019, the company’s performance declined significantly. In 2019, the profitability of Xinghe shares exceeded the peak in recent years. After the net profit deducted reached 226 million, the company only had a net profit deducted of more than 100 million in 2020, a year-on-year decline of more than 50%.
In 2021, the performance decline trend of Xinghe shares still failed to be reversed. Therefore, in the prospectus document, Xinghe shares also admitted that after preliminary calculation, the net profit deducted from non profits in 2021 will fall by 21% – 12.44% under the trend of sharp decline in 2020, and the net profit after deduction will fall below 100 million yuan.
This week, the actual controllers of Wade agricultural machinery and Tahoe Group Co.Ltd(000732) filed nearly 3 billion litigation disputes at the meeting of 15 enterprises
This week, 15 companies including Didong design, mankun technology, Lushan new material and kangguan technology will attend the meeting. Among them, Wade agricultural machinery deserves attention.
The actual controllers of ward agricultural machinery are Wang Weiyao and Zhang Amei, who indirectly hold 73.62% of the shares of ward agricultural machinery through Danyang industry. In addition to wade agricultural machinery, Wang Weiyao family has also set foot in many fields such as real estate.
However, it was the real estate that involved Wang Weiyao in a lawsuit of nearly 3 billion yuan with Tahoe Group Co.Ltd(000732) . Specifically, on September 14, 2017, Jiangsu Taihe Jincheng Real Estate Co., Ltd. (hereinafter referred to as Taihe Jincheng Real Estate), a wholly-owned subsidiary of Tahoe Group Co.Ltd(000732) , and Wang Weiyao’s company signed the agreement on equity transfer of Jiangsu Wade Baohua Leisure Development Co., Ltd. Taihe Jincheng Real Estate transferred 100% equity of Wade Baohua for RMB 3.179 billion. At the same time, Taihe Jincheng Real estate needs to provide a shareholder loan of 624 million yuan to ward Baohua, which is specially used to repay and restore the relevant debts of shareholders, affiliated companies and other third parties recognized by the company. The total transaction consideration is 3.803 billion yuan.
According to the announcement disclosed by Tahoe Group Co.Ltd(000732) at that time, the main assets of wode Baohua are 13 plots near Xiashu Town, Jurong City, Jiangsu Province and Lushan reservoir in Baohua town. The total area of the project plot is 482000 square meters, and the planned uses are residential, commercial and comprehensive land.
However, later, due to the problem of the plot ratio of the above plots, the capacity was seriously damaged, Tahoe Group Co.Ltd(000732) wanted to “withdraw the land”, Wang Weiyao disagreed, and the two sides fell into litigation. According to the latest disclosure of Tahoe Group Co.Ltd(000732) , the amount of the lawsuit is close to 3 billion yuan. At present, it is in the state of no judgment in the first instance, and Wang Weiyao is one of the defendants.
It is worth mentioning that if Wang Weiyao loses the lawsuit, whether he can come up with nearly 3 billion yuan to compensate Tahoe Group Co.Ltd(000732) and how will he raise funds? These are regulatory concerns, and asked whether the relevant litigation will affect Wang Weiyao’s control over ward agricultural machinery.
As of January 23, the audit information disclosure of the science and Innovation Board showed that among all 713 companies, 418 were in the registration effect (registration result), followed by 147 “terminated”, 81 “inquired” and 5 suspended and updated financial statements.
As of January 23, according to the official website of the Beijing stock exchange, 84 companies on the selected layer of the new third board have been registered, while 50 companies have terminated the review, 17 have suspended the review, 34 have been inquired, 13 have been accepted and 2 have passed the review of the municipal Party Committee.
Last week, Maiwei biological broke off and fell nearly 30% on the first day of listing
A shares listed seven registered new shares last week, most of which performed well. Only one new share broke, namely Maiwei biology（
\u3000\u3000688062. SH), which fell nearly 30% on the first day of listing, while Jiayuan technology from Chengdu successfully landed on the gem. On the first day of listing, the share price soared by more than 75%, and the profit of winning the first contract exceeded 15700 yuan.
Last week, Chengda pharmaceutical showed great differences in share price. Chengda pharmaceutical’s initial price was 72.69 yuan / share, the lowest price on the first day of listing was 76.69 yuan / share, an increase of only 5.5%, while the highest price on the first day of listing was 188 yuan / share, an increase of 158.63%. There were great differences between long and short. Up to now, the share price of Chengda pharmaceutical is 99.5 yuan / share, which is significantly lower than the highest price on the first day of listing, but it is also much higher than the issue price.
This week, five stocks including A-share kunhengshunwei, Yuehai group, AsiaInfo security, Dongwei semi guide and Sanyuan biology will welcome subscription. Among them, the issuance prices of Dongwei semi guide and Sanyuan biology reached 130 yuan / share and 109.3 yuan / share respectively, but their issuance P / E ratios were higher than the industry average.
CSRC: firmly and orderly support qualified enterprises to list abroad in accordance with laws and regulations
Regulatory action was also taken last week. On January 17, the China Securities Regulatory Commission held a 2022 system work meeting, and Yi, chairman of the Commission, delivered a work report. The meeting summarized the work in 2021, analyzed the current situation, and studied and deployed the key work in 2022.
The meeting held that the current internal and external environment is becoming more complex and severe, but China’s steady and long-term development trend of economy has not changed, more positive structural changes are taking place in the capital market, and there is a solid foundation for the steady and healthy development of the market.
On how to do a good job in China’s capital market in 2022, the meeting put forward seven work priorities, including maintaining the stable and healthy development of the capital market, fully implementing the stock issuance registration system, improving the high-quality development capacity of the service economy, promoting institutional opening, risk resolution and disposal in key areas, promoting regulatory transformation Capital market, legal supply and investor protection.
Among them, with regard to coordinating opening-up and security and unswervingly promoting institutional opening-up, the meeting proposed to steadily expand the high-level two-way opening-up of markets, institutions and products and deepen the interconnection of domestic and foreign markets; Create conditions to promote greater progress in China US audit and regulatory cooperation, accelerate the implementation of regulatory systems and policies for overseas listing of enterprises, and continue to firmly and orderly support qualified enterprises to list overseas in accordance with laws and regulations; We will continue to strengthen the building of regulatory capacity under open conditions.
