Core Points - N铁发 (920027) was listed on the Beijing Stock Exchange today, opening at 33.90 yuan, representing an increase of 284.79% from its issue price [2] - The company specializes in the research, development, production, and sales of intelligent products and equipment for rail transit, along with providing professional technical services [2] - The company's public offering consisted of 19.09 million shares at an issue price of 8.81 yuan, with an issue price-to-earnings ratio of 12.94 times [2] - The effective subscription amount for the online offering was 5,865,759.28 million shares, resulting in a subscription multiple of 3,234.41 times and an allocation ratio of 0.03% [2] Financial Performance - The projected net profits for the company from 2022 to 2024 are 33.80 million yuan, 47.66 million yuan, and 53.39 million yuan, respectively [3]

Group 1 - The core viewpoint of the news is that Jiao Da Tie Fa (交大铁发) has been listed on the Beijing Stock Exchange, focusing on the development, production, and sales of intelligent products and equipment for rail transit [1] - The actual controller of the company is Wang Pengxiang, and the company does not have a controlling shareholder [1] Group 2 - After the issuance, Wang Pengxiang directly holds 10.49% of the company's shares (before the exercise of the over-allotment option) and 10.11% (after full exercise) [2] - Chengdu Jing Sheng directly holds 7.19% (before) and 6.93% (after) of the company's shares, while Wang Pengxiang holds 60.61% of Chengdu Jing Sheng's partnership shares [2] - The total amount of funds raised by Jiao Da Tie Fa before the exercise of the over-allotment option is 168.1829 million yuan, with a net amount of 141.4905 million yuan after deducting issuance costs [3] - The raised funds will be used for new projects related to the production of intelligent products and equipment, the construction of a research and development center, marketing and after-sales service network, and to supplement working capital [3]

Group 1: New IPO - Huazhi Jie - Huazhi Jie is positioned in the intelligent control industry, focusing on providing smart, safe, and precise key components for electric tools and consumer electronics [2] - The company primarily engages in the R&D, production, and sales of components for electric tools and consumer electronics, including smart switches, smart controllers, brushless motors, and precision structural parts [2] - The IPO price is set at 19.88 yuan per share, with an institutional offering price of 19.98 yuan per share, resulting in a market capitalization of 14.91 billion yuan [4] - The company has a P/E ratio of 13.05, significantly lower than the industry average of 34.45, indicating potential undervaluation compared to peers [4] - The funds raised will be allocated to expand production capacity for 86.5 million electric tool smart components, with an investment of 4.26 billion yuan, and to supplement working capital with 0.60 billion yuan [7] - Approximately 40% of the company's revenue comes from domestic operations, while 60% is generated from international markets, highlighting a strong export orientation [8] Group 2: New IPO - Jiaoda Tiefa - Jiaoda Tiefa specializes in the R&D, production, and sales of intelligent products and equipment for rail transit, along with providing professional technical services [9] - The company’s products and services are widely used in high-speed rail, conventional rail, and urban rail transit, with major clients including China National Railway Group and China Railway Construction Corporation [9][11] - The company plans to invest in new projects, including a production facility for rail transit intelligent products with an investment of 0.60 billion yuan and a R&D center with an investment of 0.51 billion yuan [11] - The actual controller of Jiaoda Tiefa is Wang Pengxiang, who holds a 13.99% direct stake and controls a total of 41.05% of the voting rights through various agreements [12]