On December 20, the new stock market ushered in the issuance and subscription of Dali Cap (301566) on the GEM. It issued 9.6 million shares online, and the market value of the top grid subscription was 9500,000 yuan.
Dali Cap's issue price is relatively low, only 890 yuan, less than 10 yuan of low-priced new shares, should be popular in the market on the first day of listing. Moreover, it also has a relatively low price-to-earnings ratio of 2099 times, lower than the industry's P/E ratio of 3316 times.
This is a rare double low attribute issued new shares, from the last two months of the GEM new shares on the first day of listing stock price performance, Dali Cap is bound to attract many shareholders to subscribe, after all, the risk of breaking is very small. Therefore, some shareholders said: "If you don't fight, you're a fool"!
Dali Cap's main business is the R&D, manufacturing and sales of RF microwave ceramic dielectric capacitors, and is committed to providing customers with high-performance and high-reliability electronic component products. The main products are RF microwave multilayer porcelain dielectric capacitors and RF microwave single-layer ceramic dielectric capacitors.
In terms of fundamentals, Dali Cap achieved operating income of 2 in the first three quarters of this year7.3 billion yuan, down 3312%；The net profit attributable to the parent company was 9916530,000 yuan, down 40 percent year-on-year13%。Performance has been somewhat weak this year.
In the last three years, the company's revenue was 21.6 billion yuan, 35.4 billion yuan and 47.7 billion yuan, and the revenue growth rate of the previous year was 3457%。The corresponding non-net profit was 70.87 million yuan, 99.13 million yuan and 17 billion yuan, with a growth rate of 71 in the previous year10%。The company expects full-year 2023 revenue to increase by -10% year-on-year90%, net profit increased by -14 year-on-year58%, deducting non-net profit increased by -17% year-on-year60%。
According to the issuance plan, Dali Cap originally raised 44.9 billion yuan, which is intended to be used for the first phase of the industrialization of high-end electronic components, information upgrading and transformation projects, etc.
However, after the end of the institutional inquiry, the total number of shares issued corresponding to 60.01 million shares and 8With an issue price of 90 yuan, the total amount of funds raised by Dali Cap is 53.4 billion yuan, overraised 84.84 million yuan, an "increase" of 1888%, the over-raising ratio is not large. Its sponsor is Huatai United, a subsidiary of Huatai**.
After the successful issuance, the total market capitalization of Dali Cap is 35600 million yuan, corresponding to the performance data of the latest three quarterly reports, its dynamic price-earnings ratio is 2692 times. Compared with the valuation of listed companies with similar businesses, Hongyuan Electronics' dynamic P/E ratio is 3461 times, Fenghua Hi-Tech is 1091 times, Sanhuan Group is 3641 times, HTC Electronics is 2382 times, 30 for torch electronics16 times. From this point of view, Dali Cap falls into the undervalued range.
For every 500 shares that are won, you need to pay 4,450 yuan, so everyone should not back down from such a winning amount, right?However, due to the weakness of the current market, many shareholders may have a short position and lead to no market value placement and "regret" it. Perhaps a small number of cautious investors think that the market is too weak, and will always transmit the "cold air" to the new shares, so they are afraid of breaking and avoid subscribing to it.
But in general, Dali Cap is subscribed for on the GEM with a high risk appetite, and its own issue price is relatively low, coupled with the recent GEM new shares are all "king bombs" The halo is blessing, there should be many active shareholders to participate in the game.
In fact, winning the new shares has become the only means to let the loss-making shareholders "return to blood" at this stage, therefore, while the dividends of the new shares are still there, if the follow-up new shares are not particularly exaggerated in the issuance data, the shareholders still have to firmly grasp it!
Risk Warning: The views expressed in this article are for communication purposes only and do not constitute your investment advice. Investment is risky, and you need to be cautious when entering the market!Thank you for your likes, ** and collections, I wish you a long rainbow!