Core Viewpoint - Marco Polo Holdings Co., Ltd. has successfully listed on the Shenzhen Stock Exchange, raising 1.643 billion yuan with a strong market response, reflecting its leading position in the construction ceramics industry [1][2]. Group 1: Company Overview - The company focuses on the research, production, and sales of architectural ceramics, owning two major brands: "Marco Polo Tiles" and "Weimei L&D Ceramics" [1]. - Marco Polo has established five production bases in China and the U.S., with an annual production capacity exceeding 200 million square meters [1]. - The company reported steady performance, with revenues of 8.661 billion yuan in 2022, projected to reach 8.925 billion yuan in 2023, and 7.324 billion yuan in 2024 [1]. Group 2: Market Position and Brand Value - Marco Polo ranked first in revenue within the domestic architectural ceramics industry from 2022 to 2024, confirming its leading market share [1]. - The "Marco Polo" trademark is recognized as a famous Chinese trademark, while "Weimei L&D Ceramics" is a notable brand in Guangdong Province [2]. - According to the World Brand Lab, "Marco Polo Tiles" has been the top brand in the architectural ceramics sector for thirteen consecutive years [2]. Group 3: Competitive Advantages - The company has a comprehensive distribution network across 31 provinces in China, with 1,447 dealers and 8,276 sales terminals, ensuring effective market coverage [2]. - Marco Polo invests significantly in research and development, with expenditures of 298 million yuan in 2022 and 315 million yuan in 2023, maintaining a high level of R&D investment in the industry [2]. - The company holds 825 patents, including 197 domestic invention patents, and has contributed to the formulation of national and group standards [2]. Group 4: Future Plans - The funds raised from the IPO will be primarily used for the green and intelligent transformation of production lines, enhancing competitiveness and efficiency [3]. - The chairman emphasized the responsibility that comes with being listed and the commitment to align with national industrial policies and market demands [3].

Core Viewpoint - Marco Polo (001386.SZ) was listed on the Shenzhen Stock Exchange today, closing at 31.46 yuan with an increase of 128.80% [1][2] Trading Data Summary - The top five selling entities included one institutional special seat, with a net selling amount of 11.52 million yuan [1] - The largest buying entity was Dongfang Caifu Securities, which accounted for 31.10% of the total trading volume, with a buying amount of 31.70 million yuan [3] - The total buying amount from the top five buying entities was 164.38 million yuan, representing 6.37% of the total trading volume, while the total selling amount from the top five selling entities was 74.18 million yuan, representing 2.87% of the total trading volume [3]

公司主营业务为建筑陶瓷的研发、生产及销售。 统计显示，公司本次发行总量为1.19亿股，其中，网上发行量为7528.00万股，发行价格为13.75元/股， 发行市盈率14.27倍，行业平均市盈率32.20倍，网上发行最终中签率为0.0336849074%。公司首发募资 金额为16.43亿元，募资主要投向广东东唯新材料有限公司年产540万平方米特种高性能陶瓷板材项目、 江西加美陶瓷有限公司智能陶瓷家居产业园(一期)建设项目、江西唯美陶瓷有限公司陶瓷生产线绿色智 能制造升级改造项目、马可波罗控股股份有限公司综合能力提升项目、广东家美陶瓷有限公司绿色智能 制造升级改造项目、江西和美陶瓷有限公司建筑陶瓷生产线绿色智能制造升级改造项目等。（数据宝） N马可波(001386)今日上市，开盘上涨140.73%，截至收盘涨幅回落至128.80%，全天成交量7570.42万 股，成交额25.82亿元，换手率77.36%。 今日上市新股表现 | 代码 | 简称 | 最新价（元） | 收盘涨跌幅（%） | 首日换手率（%） | | --- | --- | --- | --- | --- | | 001386 | N马可波 | 31. ...

Market Overview - The home goods sector increased by 0.39% on October 22, with N Marco leading the gains [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Top Performers - N Marco (001386) closed at 31.46, up 128.80% with a trading volume of 757,000 shares [1] - Seagull Home (002084) closed at 4.90, up 10.11% with a trading volume of 1.72 million shares [1] - Dream Lily (603313) closed at 10.16, up 5.50% with a trading volume of 588,100 shares [1] Underperformers - Hango Group (001221) closed at 61.79, down 5.59% with a trading volume of 42,700 shares [2] - Dongpeng Holdings (003012) closed at 7.19, down 5.27% with a trading volume of 254,200 shares [2] - Delixi Group (002571) closed at 7.82, down 5.10% with a trading volume of 280,700 shares [2] Capital Flow - The home goods sector saw a net inflow of 602 million yuan from institutional investors, while retail investors experienced a net outflow of 1.077 billion yuan [2][3] - N Marco had a net inflow of 587 million yuan from institutional investors, representing 22.74% of its total trading volume [3] - Seagull Home experienced a net outflow of 68.04 million yuan from retail investors, indicating a negative sentiment among smaller investors [3]

Core Viewpoint - Marco Polo Holdings Co., Ltd. (hereinafter referred to as "Marco Polo") has successfully listed on the Shenzhen Stock Exchange, closing at 31.46 yuan with a significant increase of 128.80% on the first day of trading, indicating strong market interest and investor confidence in the company [1]. Company Overview - Marco Polo is one of the largest manufacturers and sellers of building ceramics in China, focusing on the research, production, and sales of ceramic tiles under its own brands, including "Marco Polo Tiles" and "Weimei L&D Ceramics" [1]. - The company operates five production bases located in Dongguan, Qingyuan, Fengcheng, Chongqing, and Tennessee, USA, producing both glazed and unglazed tiles [1]. Shareholding Structure - Before the issuance, Meiying Industrial held 69,215,850 shares, accounting for 64.36% of the total share capital, making it the controlling shareholder of Marco Polo [1]. - Huang Jianping, the actual controller of Meiying Industrial, holds a direct stake of 0.90% in Marco Polo and controls 95.55% of the voting rights through Meiying Industrial [2]. Financial Performance - Marco Polo's revenue for 2021, 2022, 2023, and projected for 2024 are 936,482.90 million yuan, 866,092.92 million yuan, 892,475.01 million yuan, and 732,430.90 million yuan respectively, indicating a downward trend [6][7]. - The net profit attributable to shareholders for the same years is 165,323.29 million yuan, 151,434.61 million yuan, 135,293.72 million yuan, and 132,690.66 million yuan, showing a decline in profitability [6][7]. Fundraising and Use of Proceeds - The total amount raised from the issuance is 1,643,015,000.00 yuan, with a net amount of 1,559,993,779.50 yuan after deducting issuance costs [4]. - The funds will be allocated to various projects, including the construction of an intelligent ceramic home industry park and upgrades to production lines for green intelligent manufacturing [4][5]. Future Projections - For the first half of 2025, Marco Polo expects a revenue of 321,820.43 million yuan, a decrease of 11.82% year-on-year, and a net profit of 65,467.61 million yuan, down 7.90% year-on-year [10]. - The company anticipates a revenue range of 485,000.00 million yuan to 510,000.00 million yuan for the first nine months of 2025, reflecting a decline compared to the previous year [11].

Core Viewpoint - Marco Polo Holdings Co., Ltd. has successfully listed on the Shenzhen Stock Exchange, with a significant opening price increase, but faces challenges including declining performance and high accounts receivable [2][3][4]. Company Overview - Marco Polo, founded in 1996 and headquartered in Dongguan, is a large enterprise group engaged in the research, production, and sales of building ceramics and sanitary ceramics, primarily owning the brands "Marco Polo Tiles" and "Weimei L&D Ceramics" [2]. - The company has five production bases located in Dongguan, Qingyuan, Fengcheng, Chongqing, and Tennessee, USA, focusing on glazed and unglazed tiles [2]. Financial Performance - The company reported revenues of 86.6 billion yuan, 89.25 billion yuan, and 73.24 billion yuan from 2022 to 2024, with net profits of 15.14 billion yuan, 13.53 billion yuan, and 13.27 billion yuan respectively, indicating a downward trend [4]. - In the first half of this year, revenues decreased by 11.82% year-on-year to 32.18 billion yuan, and net profit fell by 7.9% to 6.55 billion yuan [4]. - The company anticipates a revenue range of 48.5 billion to 51 billion yuan for the first three quarters of 2025, with a year-on-year decline of approximately 11.79% to 7.25% [4]. Market Challenges - The overall decline in the domestic ceramics industry has impacted Marco Polo's performance, with increasing competition leading to lower sales prices and volumes [4][5]. - The company has faced issues with high accounts receivable, which pose financial risks, particularly due to credit defaults from real estate clients [6][7]. Fundraising and Investment Plans - Marco Polo raised 16.43 billion yuan from its IPO, with plans to invest in capacity expansion and upgrades to production lines for green and intelligent manufacturing [8]. - The company aims to increase its production capacity by 10 million square meters through the construction of a new ceramic home industry park in Jiangxi [8]. Technological Innovation - Marco Polo holds 916 patents, including 232 domestic invention patents, and has achieved significant technological breakthroughs, showcasing its strength in innovation and intellectual property protection [9].

Core Points - Marco Polo Holdings Co., Ltd. was listed on the Shenzhen Stock Exchange on October 22, with an initial public offering of 119.49 million shares at a price of 13.75 yuan per share, raising 1.643 billion yuan in new funds [1][3] - The company reported a revenue of 7.324 billion yuan and a net profit of 1.326 billion yuan for the fiscal year 2024 [1] - On the first trading day, Marco Polo's stock opened at 33.10 yuan, reflecting a 140.73% increase [1] Fundraising and Projects - The total amount raised from the issuance was 1.643 billion yuan, with a net amount of 1.560 billion yuan after deducting issuance costs [3] - The raised funds will be allocated to several projects, including the construction of an intelligent ceramic home industry park and upgrades to green intelligent manufacturing for various ceramic production lines [3] Financial Performance - For the first half of 2025, the company achieved a revenue of 3.218 billion yuan, with a net profit attributable to shareholders of 654.68 million yuan, and a net profit after deducting non-recurring gains and losses of 598.05 million yuan [5] - Marco Polo is recognized as one of the largest manufacturers and sellers of building ceramics in China [5]

对于本次上市募集资金的用途，马可波罗明确投向五大项目，分别为江西加美陶瓷有限公司智能陶瓷家居产业园（一期）建设项目、江西唯美陶瓷有限公司 陶瓷生产线绿色智能制造升级改造项目、广东家美陶瓷有限公司绿色智能制造升级改造项目、江西和美陶瓷有限公司建筑陶瓷生产线绿色智能制造升级改造 项目，以及马可波罗控股股份有限公司综合能力提升项目，聚焦智能升级与绿色发展，进一步夯实核心竞争力。 2025年10月22日上午，国内家居建陶行业领军企业——马可波罗控股股份有限公司（股票代码：001386）在深圳证券交易所正式挂牌上市。 官方公告显示，马可波罗本次公开发行股票11,949.20万股，全部为新股发行，发行后总股本达119,492.00万股。此次发行价格定为13.75元/股，发行市盈率 14.27倍，开盘即迎来亮眼表现，开盘价33.10元/股，较发行价上涨19.35元，涨幅高达140.73%，展现出资本市场对其发展潜力的认可。 马可波罗专注于建筑陶瓷的研发、生产和销售，是国内最大的建筑陶瓷制造商和销售商之一，主要拥有"马可波罗瓷砖""唯美L&D陶瓷"两大自有品牌。 业绩方面，马可波罗持续展现稳健实力。截至2024年末，其销售终 ...

统计显示，公司本次发行总量为1.19亿股，其中，网上发行量为7528.00万股，发行价格为13.75元/股， 发行市盈率14.27倍，行业平均市盈率32.20倍，网上发行最终中签率为0.0336849074%。公司首发募资 金额为16.43亿元，募资主要投向广东东唯新材料有限公司年产540万平方米特种高性能陶瓷板材项目、 江西加美陶瓷有限公司智能陶瓷家居产业园(一期)建设项目、江西唯美陶瓷有限公司陶瓷生产线绿色智 能制造升级改造项目、马可波罗控股股份有限公司综合能力提升项目、广东家美陶瓷有限公司绿色智能 制造升级改造项目、江西和美陶瓷有限公司建筑陶瓷生产线绿色智能制造升级改造项目等。（数据宝） 今日上市新股表现 N马可波(001386)今日上市，开盘上涨140.73%，截至上午收盘涨幅扩大至145.38%，半日成交量5665.11 万股，成交额19.66亿元，换手率57.89%。 公司主营业务为建筑陶瓷的研发、生产及销售。 | 代码 | 简称 | 最新价（元） | 上午收盘涨跌幅（%） | 半日换手率（%） | | --- | --- | --- | --- | --- | | 001386 | N马可波 | ...

Group 1 - Marco Polo officially listed on the Shenzhen Stock Exchange main board on October 22 [1] - The company focuses on the research, production, and sales of architectural ceramics, with two main brands: "Marco Polo Tiles" and "Weimei L&D Ceramics" [1] - Marco Polo has five production bases located in Dongguan, Qingyuan (Guangdong), Fengcheng (Jiangxi), Rongchang (Chongqing), and Tennessee (USA) [1] Group 2 - The public offering consisted of 119 million shares at a price of 13.75 yuan per share, raising a total of 1.643 billion yuan [1] - The raised funds will be used for various projects, including the construction of an intelligent ceramic home industry park and green intelligent manufacturing upgrades for production lines [1] - Project allocations include upgrades for Jiangxi Jamei Ceramics, Jiangxi Weimei Ceramics, Guangdong Jamei Ceramics, and Jiangxi Hemei Ceramics [1] Group 3 - Projected revenues for Marco Polo from 2022 to 2024 are 8.661 billion yuan, 8.925 billion yuan, and 7.324 billion yuan respectively [1] - Projected net profits for the same period are 1.514 billion yuan, 1.353 billion yuan, and 1.327 billion yuan respectively [1]