From 2019 to 2023, more than 1,800 new IPOs of A-shares in Shanghai and Shenzhen will be over-funded, with high valuations and over-offerings, performance changes, and stock price breaks, etc., which will cause large losses to the majority of shareholders and basic people.
Take stock of the chaos of A-share IPOs, so that investors can recognize the cruelty of the A** market.
CanSino's IPO in 2020 was criticized by the market in that year, which caused heated discussions among investors - the operating income before the listing never exceeded 10 million yuan, and it lost money every year, and the IPO issue price was as high as more than 200 yuan, raising more than 5 billion yuan!
CanSino IPO in July 2020 and listing on August 13.
Issued **24.8 million shares, with an issue price of up to 20971 yuan shares, raising more than 5 billion yuan.
1. The operating income before the IPO is very low. The revenue from 2017 to 2019 was 18720,000 yuan, 28120,000 yuan, 22830,000 yuan - 10,000 yuan, not 100 million yuan! This simply does not meet the standards for listing on the main board, but it can be listed on the Science and Technology Innovation Board, and it is the best listing!
2. Sell at a loss in performance.
CanSino lost money every year before it went public, and it never made a profit.
The losses from 2017 to 2020 were 64.45 million yuan, 13.8 billion yuan, 15.7 billion yuan, 39.7 billion yuan.
In 2021, he made 19$1.4 billion.
In 2022, it will lose another 90.9 billion yuan.
The pre-loss in 2023 is 12$6.9 billion to $149.7 billion yuan. With such business performance, how did the IPO sell 209$71 of the ** shares?
3. Is the high valuation of CanSino IPO reasonable?
Judging from the company's operating performance before listing at that time, the issue price of more than 200 yuan must have been seriously overestimated.
After only one year of profit, and then the loss continued to expand, and the stock price was cut in half, this IPO was simply .......
4. Serious over-recruitment.
CanSino's IPO plans to raise 1 billion yuan, and the actual funds raised are 5.2 billion yuan, and after deducting the issuance expenses, the net funds raised are 497.9 billion yuan. ——In terms of the company's business performance before and after listing, whether it was at that time or now, the IPO can raise more than 5 billion funds, and the A-share people can only be blamed for having a lot of money!
5. The stock price is broken, and the stock price is cut in half.
On the first day of CanSino's listing in 2020, the stock price rose by more than 60%, and then the stock price was speculated to 798 yuan, and then all the way, and finally broke, and the current stock price is around 55 yuan, with a breaking range of more than 70%.
Looking at CanSino's IPO today, is it quite ruinous?
What did the people who approved it do to go public?
What do intermediaries do?
What does the inquiry agency do?
It is precisely because of the IPO listing of batches of companies with high valuations that the A** market has become a speculative market; It is precisely because a large number of institutions have no moral bottom line that the A** field has become the most high-valuation issuance and a huge amount of financing circle money to draw blood.
Of course, if there were no shareholders and queued up to subscribe, there would not be such a distorted market.