IPO Weekly Report | New shares subscription this week, exclusive supplier of NIO and Xiaomi Motors is here
2024-08-26
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The exclusive supplier of GAC, NIO and Xiaomi Motors will open subscription this week.
The Paper, based on Wind and public information, found that this week (August 26-30) there will be one new stock available for online subscription and one new stock listed. The new stock is Zhejiang Fute Technology Co., Ltd. (referred to as "Fute Technology", 301607.SZ), which is the exclusive supplier of GAC Group, NIO and Xiaomi.
1. New stock subscription this week
This week, investors will have one new stock available for subscription, Fute Technology on the Growth Enterprise Market. Fute Technology will be available for subscription on Monday.
The subscription code of Fute Technology is 301607, the subscription price is 14 yuan per share, the upper limit of subscription is 6,500 shares, the upper limit amount is 91,000 yuan, and the upper limit subscription requires an average daily shareholding value of 65,000 yuan. The total number of shares issued this time is 27.7536 million shares, 6.6605 million shares are issued online, and the main underwriter is Guotai Junan.
According to a research report by Huajin Securities, Fute Technology is mainly engaged in the research and development, production and sales of high-voltage power supply systems for new energy vehicles. Through equity cooperation, the company is deeply bound to GAC Group, NIO and Xiaomi Auto, and is the exclusive supplier of high-voltage power supply systems for many models of the aforementioned companies. In the next two years, many of the company's first designated projects will enter the mass production period one after another, including Renault's CMF-BEV platform and Xiaomi Auto supporting projects that have entered the mass production stage this year. At the same time, it is expected that Changan Automobile's new models of the Deep Blue brand, the frigate and BYD Song's designated projects will be mass-produced one after another within the year, and next year, Leapmotor's supporting designated projects will enter the mass production period. In addition, the company has also obtained new project designations from Stellantis and a mainstream European luxury brand customer, and the relatively rich reserve of new mass production projects is expected to support the company's performance.
Huajin Securities selected Xinrui Technology, Inbol, Jingjin Electric and Weimaisi as comparable companies, which have product types and downstream customer groups similar to Fute Technology. From the above comparable companies, the industry's average revenue scale is 2.442 billion yuan, the comparable PE-TTM (excluding outliers/arithmetic mean) is 18.46X, and the gross profit margin is 11.32%; in comparison, the company's revenue scale is lower than the industry average, but the gross profit margin is higher than the industry average.
Second, new stocks were listed last week
This Monday, Shanghai Xiaofang Pharmaceutical Co., Ltd. (referred to as "Xiaofang Pharmaceutical", 603207.SH) will be listed.
According to Huajin Securities' research report, Xiaofang Pharmaceutical's main business is the research and development, production and sales of topical medicines, and its products cover the sub-sectors of digestive, skin and ENT. The company is based on household medicines and is a domestic leader in core products such as enema and calamine lotion. The company has been deeply engaged in the research, production and sales of household medicines. Since the creation of the "Xinlong" brand in 2002 and its use to date, the brand's core products include enema and calamine lotion. These two types of products are widely used by the public, and the domestic market size has reached 983 million yuan and 245 million yuan respectively (Minei.com data, 2022).
Last week, a total of two new stocks were listed, namely, Guoke Tiancheng Technology Co., Ltd. (referred to as "Guoke Tiancheng", 301571.SZ) and Zhejiang Taihu Yuanda New Materials Co., Ltd. (referred to as "Taihu Yuanda", 920118.BJ). Although both stocks closed in the green on the first day of listing, the returns to investors from new stocks varied greatly.
On August 21, Guoke Tiancheng was listed on the Growth Enterprise Market with an issue price of 11.14 yuan per share. On the first day of listing, the stock price once rose by more than 290% during the trading session. As of the close, it closed at 35.65 yuan per share, up 220.0%. Based on the closing price, investors who won one contract would have a floating profit of 12,255 yuan.
According to Huajin Securities' research report, Guoke Tiancheng is one of the few domestic manufacturers with the ability to mass-produce InSb refrigeration infrared products at this stage, and has a strong differentiated competitive advantage in the refrigeration infrared market. So far, the company has established stable and good cooperative relations with large military industrial groups and subordinate units of scientific research institutes, such as China Electronics Technology Group Corporation, China Aerospace Science and Technology Corporation, China Shipbuilding Industry Corporation, and the Chinese Academy of Sciences.
On August 22, Taihu Yuanda, the "second stock of 920", was listed on the Beijing Stock Exchange with an issue price of 17.0 yuan per share. On the first day of listing, Taihu Yuanda reported 23.13 yuan, an increase of 36.06%. Based on the closing price, investors won 613 yuan for one contract.
According to a research report by Kaiyuan Securities, Taihu Yuanda focuses on the research and development, manufacturing, sales and services of polymer materials for cables. Its main products are divided into three categories: cross-linked polyethylene (XLPE) cable materials, low-smoke halogen-free cable materials and shielding materials. The company's products are mainly used in the field of wire and cable manufacturing, and indirectly used in many fields such as electricity, rail transportation, communications, new energy, and construction.
3. A-share IPO meeting this week
In terms of the review by the Issuance and Listing Committee, last week, the Shanghai Stock Exchange and the Beijing Stock Exchange each arranged for one company to attend the meeting, and Shanghai Yutian Guanjia Technology Co., Ltd. (referred to as "Yutian Guanjia") and Hefei Kobail New Materials Co., Ltd. (referred to as "Kobail") were both approved.
According to the prospectus, Yutian Guanjia is an automotive sports parts manufacturer with automotive sunroofs as its main product. It has integrated capabilities in automotive sunroof design, R&D and production. It mainly serves well-known domestic and foreign automobile manufacturers established in China and some overseas vehicle manufacturers, providing professional and systematic solutions for various types of automotive sunroofs and other automotive sports parts. It is an excellent first-tier supplier of automotive parts. The company's current main customers include well-known domestic vehicle manufacturers such as Changan Automobile, FAW Group, Geely Automobile, GAC Group, and SAIC Volkswagen.
Cober's main business is the research and development, production and sales of modified plastics and masterbatches. The company is committed to providing customers with customized products that meet coloring and functional requirements. Its products are widely used in home appliances, automobiles, fast-moving consumer goods and other fields.
This week, the Beijing Stock Exchange issued a new review meeting announcement. The Beijing Stock Exchange Listing Committee is scheduled to hold the 15th review meeting in 2024 on August 30, and the IPO issuer under review is Jiangsu Tiangong Technology Co., Ltd.
In addition, four companies chose to withdraw their IPO prospectuses this week, namely Jiangsu Fenghe Medical Equipment Co., Ltd., Suzhou Hongan Machinery Co., Ltd., Suzhou Yadelin Co., Ltd., and Ligao (Shandong) New Energy Technology Co., Ltd.
4. Latest developments of Hong Kong stocks
Last week, two new stocks submitted prospectuses in Hong Kong stocks, and Xiamen Jihong Technology Co., Ltd., Beijing Huahao Zhongtian Biopharmaceutical Co., Ltd., and Jiaxin International Resources Investment Co., Ltd. all updated their prospectuses. Two companies passed the hearing of the Hong Kong Stock Exchange, namely Guangdong Jixin Guokong Testing and Certification Technology Service Center Co., Ltd. and Brain Motion Aurora Medical Technology Co., Ltd.
5. Latest investment and financing news
1. On August 21, Boshi Pixel announced the completion of a RMB 130 million Series A financing round, which was jointly invested by SMIC Juyuan, Beijing 5G Industry Fund, Jinfu, Beihang Investment and old shareholder Everest.
2. On August 21, Agile Medical Technology (Suzhou) Co., Ltd. (hereinafter referred to as Agile Medical) signed a contract for a round A financing of over 100 million yuan. This round of financing was led by Qianji Capital, followed by Hengdian Capital, and received additional investment from old shareholders Yuanhe Yuandian, Sherpa Investment, and Suzhou Yihe. This round of financing will be used to accelerate the company's innovative research and development, mass production delivery and commercialization.
3. On August 20, Shaanxi Optoelectronics Pioneer Institute Technology Co., Ltd. announced the completion of a B round of financing worth hundreds of millions of yuan. This round of financing was jointly invested by Xi'an Caijin Urban Renewal Fund, Xi'an Science and Technology Holdings, and Photonic Strong Chain Fund. The funds will be mainly used for the comprehensive upgrade of the "Advanced Photonic Device Engineering Innovation Platform."
4. On August 19, Changan Automobile issued an announcement that Changan Automobile's joint venture Avita Technology plans to sign an "Equity Transfer Agreement" with Huawei in Chongqing on the morning of August 20, stipulating that Avita Technology will purchase Huawei's 10% equity in Yinwang for a transaction amount of 11.5 billion yuan. At the same time, Avita Technology plans to sign a "Shareholder Agreement" with Huawei and Yinwang. As a result, Avita Technology will become the first company to invest in Shenzhen Yinwang.
5. On August 19, space-time intelligence technology company Qianxun Location Network Co., Ltd. officially announced the completion of a new round of strategic financing, which will further strengthen the construction of space-time intelligence full-link products and technology systems to continue to strengthen its leading position in the field of space-time intelligence. This round of financing was led by Beijing Information Industry Development Investment Fund, followed by Shanghai Shuyu Dingyuan Investment Fund, Beijing Dongcheng District Science and Technology Innovation Industry Investment Fund, and Qingdao Zhonghe Xingyao Venture Capital Fund. The company's overall valuation has exceeded 16 billion yuan.
6. On August 19, Volant Aviation successfully completed the A++++ round of financing worth hundreds of millions of yuan. This round of financing was led by Beijing Robot Industry Fund, with participation from Beijing Guorui Fund, Shoucheng Capital, an equity investment platform under Shougang Fund, and Yanchuang Group. Gengxin Capital served as the financial advisor for this round of financing. So far, the company has successfully completed the A1 round of financing with a total of 100 million US dollars.
The Paper reporter Qi Yeyun
(This article is from The Paper. For more original information, please download the "The Paper" APP)
