On December 4, the new market ushered in the issuance and subscription of Fengmao shares (301459). It issued 5.7 million shares online, and the top grid subscription needs to be matched with a market value of 5500,000 yuan.
The issue price of Fengmao shares is not low, at 3190 yuan, higher than the 30 yuan generally believed by shareholders to hit the new safety line. At the same time, it has an issue price-to-earnings ratio of 2827 times, higher than the industry's P/E ratio of 2546 times.
This is probably another problem for new shareholders, after all, many investors are worried about the risk of breaking the new shares issued by the double high. Moreover, due to the high base, if the winner unfortunately encounters the embarrassment of breaking, then the degree of reverse discount is bound to be relatively large. Therefore, some shareholders said: "I am depressed when I win the lottery"!
Fengmao Co., Ltd. is mainly engaged in the research and development and industrialization of precision rubber parts. The main products include transmission system components, fluid pipeline system components and sealing system components, etc., which are widely used in automobiles, industrial machinery, home appliances and sanitary ware.
In terms of fundamentals, Fengmao shares achieved operating income of 60.5 billion yuan, a year-on-year increase of 3883%；Net profit attributable to the parent company was 11.6 billion yuan, a year-on-year increase of 6190%。The performance data is outstanding.
In the last three years, the company's revenue was 42 billion yuan, 55.5 billion and 60.8 billion yuan, the revenue growth rate of the previous year was 962%。The corresponding non-net profit was 55.26 million yuan, 65.89 million yuan and 90.27 million yuan respectively, and the growth rate of the previous year was 3701%。The company expects full-year 2023 revenue to increase by 31% year-on-year57% to 3979%, net profit increased by 46% year-on-year70% to 6626%, deducting non-net profit increased by 51% year-on-year75% to 7391%。
According to the issuance plan, Fengmao shares originally raised 43.5 billion yuan, which is intended to be used for the construction project of intelligent transmission belt factory, the expansion project of tensioner and the upgrading and construction project of R&D center.
But after the end of the institutional inquiry, the total number of shares issued corresponding to 20 million shares and 31With an issue price of $90, the total amount of funds it raises is 63.8 billion yuan, overraised by 20.2 billion yuan, an "increase" of 4643%。Its sponsor is Dongfang**.
After the successful issuance, the total market value of Fengmao shares is 255.2 billion yuan, corresponding to the performance data of the latest three quarterly reports, its dynamic price-earnings ratio is 1632 times. Compared with the valuation of listed companies with similar businesses, Sanlux has a dynamic P/E ratio of 4069 times, Tianpu shares are 7965 times, Pengling shares are 7344 times, Chuanhuan Technology is 2689 times, Zhongding shares are 1470 times. From this point of view, the valuation of Fengmao shares is in the low range.
For each 500 shares, you need to pay 15,950 yuan, which is a short position for shareholders who are in a weak positionTherefore, some cautious investors should avoid subscribing to it.
However, Fengmao shares are issued and subscribed on the GEM with a high degree of risk appetite, and the new shares on the GEM are all "powerful roles" in the near future, and the winners are generally given more than 10,000 yuan in new income. In the last 5 GEM IPOs, based on the average trading price on the first day of listing, three of them have given the winning shareholders an average income of more than 20,000 yuan.
Due to the current pace of new stock issuance has slowed down significantly compared with before, in line with the principle of "scarcity is expensive", many shareholders who have won the lottery are reluctant to sell the new shares that have been won with great difficulty, coupled with the new shares of Mongguli and Aweite have risen dozens of times in the intraday at every turn, which has provoked many first-class investors to participate in speculation and dream of "getting rich overnight".
It's just that new shares should only be beneficial to the shareholders who have won the lot, and for those who are keen to speculate on new stocks, the benefits outweigh the disadvantages, because the vast majority of new shares are basically the best since the first day of listing. But despite this, there is still an endless stream of new investors, and in their eyes, it should be either to hell or to heaven, and to play is a heartbeat!
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!List of high-quality authors