The fixed increase project of Yonyou Network Technology Co.Ltd(600588) has attracted the participation of well-known institutions such as Gaoling, Gaoyi, China International Capital Corporation Limited(601995) , e-fonda and JPMorgan.
On the evening of January 25, Yonyou Network Technology Co.Ltd(600588) released the report on the issuance of non-public A shares in 2020. The issuance price was 31.95 yuan / share, and the total amount of funds raised was nearly 5.3 billion yuan.
As of the afternoon trading on January 26, Yonyou Network Technology Co.Ltd(600588) was reported at 37.36 yuan / share, with a total market value of 122.2 billion yuan. The floating profit of institutions participating in fixed growth has reached 16.93%, and that of Gaoling has reached nearly 170 million yuan.
Some securities companies predict that the target market value of Yonyou Network Technology Co.Ltd(600588) in 2022 is 189.1 billion yuan.
well known investment institutions participate in fixed growth
According to the announcement, the funds raised in this non-public offering will be invested in the construction project of yonbip, UFIDA business innovation platform, the construction project of phase III R & D center of UFIDA Industrial Park (Nanchang), supplement working capital and repay bank loans.
Source: company announcement
Among them, hhlr Management Co., Ltd. under Hillhouse was allocated 31.2989 million shares, with an amount of nearly 1 billion yuan; Gaoyi Xiaofeng No. 1 Ruiyuan securities investment fund and Gaoyi Xiaofeng No. 2 letter fund managed by Gaoyi assets Deng Xiaofeng were allocated nearly 400 million yuan in total. For other institutions, China International Capital Corporation Limited(601995) , Wanjia fund and e fund were allocated about 500 million yuan, 300 million yuan and 250 million yuan respectively. Foreign capital such as GIC and JPMorgan have also been allocated more than 100 million yuan.
In addition, Ge Weidong, a private placement boss, was allocated nearly 200 million yuan. Previously, Ge Weidong was the fifth largest circulating shareholder of Yonyou Network Technology Co.Ltd(600588) , holding about 115 million shares. Together with the 6259780 shares allocated this time, it holds more than 120 million shares in total, with a total holding amount of 4.5 billion yuan.
As of the noon closing on January 26, Yonyou Network Technology Co.Ltd(600588) closed at 37.36 yuan / share. Compared with the fixed increase issuance price of 31.95 yuan / share, the floating profit of institutions participating in the fixed increase has reached 16.93%, and they have been allocated a strategic position of nearly 1 billion yuan, with a floating profit of about 170 million yuan.
In this non-public offering, the shares subscribed by the issuing object shall not be transferred within six months from the date of the end of this offering.
securities companies predict that the total market value will exceed 180 billion yuan in 2022
Yonyou Network Technology Co.Ltd(600588) was listed in May 2001, with a total operating income of 333 million yuan in that year, and has increased steadily every year since then. By 2020, the operating revenue has increased to 8.525 billion yuan, and the share price has also increased from 1.62 yuan / share to 37.36 yuan / share. The growth of share price basically matches the growth of revenue. At present, the total market value of Yonyou Network Technology Co.Ltd(600588) has exceeded 123 billion yuan.
Guosheng securities research report pointed out that Yonyou Network Technology Co.Ltd(600588) ranks first in the market share of China’s application platform cloud services with a market share of 13.9%. Key customers are the advantages of UFIDA. UFIDA has recently won many tens of millions of large orders in the field of large central enterprises and commercial banks. According to Guosheng securities, 96 central enterprises, tobacco, finance and local super large enterprises will contribute nearly 100 billion to the market in ERP related fields in the future, which effectively ensures the growth space and profitability of UFIDA’s future revenue.
According to the judgment of Guosheng securities, considering the continuous expansion of the track space where Yonyou Network Technology Co.Ltd(600588) is located, the relative improvement of the competition pattern with major competitors, the stable customer base, the gradual implementation of delivery and subcontracting outsourcing, the subscription priority of small and medium-sized enterprises, and the continuous improvement of cloud business revenue quality, Guosheng securities gives the company a target market value of 189.1 billion yuan in 2022, corresponding to 15xps, Maintain the “buy rating”.
