Text |Jin Wei.
Another new stock listing was speculated.
On December 22, Hongsheng Huayuan (**n Hongsheng) was listed on the main board with an issue price of 17 yuan, the opening price is 56 yuan, an increase of 225%, more than half an hour after the opening, Hongsheng Huayuan suddenly rose sharply, touching the first limit, after the stop, Hongsheng shares triggered the second stop, the increase reached 42706%。During the session, Hongsheng shares rose to 480% at one point, and then fell back.
As of the morning**, Hongsheng Huayuan reported at 78 yuan, an increase of 359%, and a market value of 208900 million.
Hongsheng Huayuan has been hyped by market funds, mainly because of its low-price issuance, in addition, the new shares of Yongda shares out of the 4 boards**, but also added emotional space to the speculation of new shares.
Hongsheng Huayuan's main business is the research and development, production and sales of transmission line towers. The main products are transmission line towers with a full range of voltage levels.
From 2020 to 2022, Hongsheng Huayuan's operating income will be 610.7 billion yuan, 716.2 billion yuan, 877.1 billion yuan;The net profit attributable to the parent company was 52.2 billion yuan, 20.7 billion yuan, 16.6 billion yuan.
In the first three quarters of 2023, Hongsheng Huayuan achieved an operating income of 65800 million, an increase of 1 over the same period last year58%；The net profit attributable to the parent company was 08.9 billion yuan, down 3115%。
Hongsheng Huayuan expects to achieve operating income of about 90 percent in 20235 billion to 915 billion yuan, a change of 3 from the same period last year18% to 432%；Net profit attributable to shareholders of the parent company is expected to be approximately 1$2.3 billion to $13.3 billion yuan, a change of -25 from the same period last year81% to -1978%。
As a leading enterprise of transmission line towers, Hongsheng Huayuan is closely related to the infrastructure of power grids. According to the prospectus, Hongsheng Huayuan's major customers in recent years are mainly State Grid, China Southern Power Grid, etc. As China's power grid industry is an industry with a high degree of concentration, from 2020 to 2022 and in the first six months of 2023, the company's largest customers are all State Grid, and the sales proportion is respectively. 35% and 5776%。
The IPO Hongsheng Huayuan plans to raise 1 billion yuan, which will be used for a full range of voltage level transmission tower production projects, intelligent manufacturing upgrading projects and supplementary working capital.
At the time of issuance, the SSE's business management system platform received a total of 7,893 preliminary inquiries from 807 offline investors, with a range of 098 yuan share - 56 yuan share. Among them, Xinyuan's **management*** management *** 4** reported 098 yuan share of the lowest price, the above ** due to the low price was not shortlisted;A natural person quoted 56 yuan shares is the most **, which is invalid**.
In the end, Hongsheng Huayuan and Bank of China International ** reached a consensus, and the issue price was set at 17 yuan, the issue price-earnings ratio is 3154x, while the industry in which the company operates has an average P/E ratio of 2558 times.
Press issue **1$70 shares and 6Calculated by the number of new shares issued of 6.8 billion, the issuance was successful, and the total amount of funds raised by the company was 113.7 billion yuan, slightly higher than the original fundraising plan.
Hongsheng Huayuan has been greatly hyped this time, mainly because of its ultra-low issue price, 17 yuan set a record for the lowest issue price among new shares listed this year.
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