This Shenzhen company, IPO terminated!

Mondo Finance Updated on 2024-01-29

On December 15, information on the official website of the Shenzhen Stock Exchange showed that on December 12, 2023, Mingzhe Group and the sponsor Changjiang** applied to withdraw the issuance and listing application documents. According to the relevant rules,The Shenzhen Stock Exchange has decided to terminate the review of its initial public offering** and listing on the Main Board. In this IPO, the company's application was accepted on June 26, and the first round of inquiries was received on July 24, but until now there has been no reply to the inquiry, and finally chose to withdraw the listingThe entire process took less than half a year.

In this IPO, the company originally planned to raise 14100 million yuan, which will be used for 5 projects, including marketing network and brand building, urban service business development and capacity building. According to the prospectus, Mingzhe Group was established in October 2000 and is located in Sungang Street, Luohu District, Shenzhen. The company is mainly engaged in property management related business, and is an independent third-party property service enterprise mainly engaged in non-residential properties. During the reporting period, the company's main business income was mainly in comprehensive property services. From 2020 to 2022, the company's operating income will be 300.7 billion yuan, 334.2 billion and 361.7 billion yuan, and the net profit was 17.8 billion yuan, 16.5 billion yuan and 28.9 billion yuan, net profit attributable to owners of the parent company after deducting non-recurring gains and losses was 27.6 billion yuan, 24.8 billion and 27.8 billion yuan. Among them,Net profit declined in 2021

Despite the average performance, the company was very willing to pay dividends before the listing. From 2020 to 2022, its cash dividends were 3800 million yuan, 11.9 billion and 34.5 billion yuan, totaling 84.4 billion yuan, while the total net profit in the same period was only 63.2 billion yuan. According to the prospectus, the controlling shareholder of Mingzhe Group is Gao Haiqing, and the actual controllers are Gao Haiqing, Zhang Guoling, and Gao Yifei. Gao Haiqing and Zhang Guoling are husband and wife, and Gao Yifei is a father-daughter relationship. Together, the three directly hold 80 shares of the company7786%, with a total of 917115% of the voting rights. As of the end of May 2023, there are a total of 63 listed companies in China's property management industry, most of which are listed on the Hong Kong stock market.

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Editor: Wu Yiyi, Editor-in-charge: Zhu Feng, Proofreader: Wang Bei.

Executive Producer: Yuan Changqiao.

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