Core Viewpoint - The company, Tongguan Mining Construction Co., Ltd., is set to go public on October 11, 2024, on the Beijing Stock Exchange, with a total score of 89.5, classified as B-level, indicating good short-term profitability but concerns regarding information disclosure quality [3][29]. Company Basic Information - Full Name: Tongguan Mining Construction Co., Ltd. [22] - IPO Application Date: June 29, 2023 [22] - Listing Date: October 11, 2024 [22] - Industry: Civil Engineering and Construction [22] - Underwriters: Tianfeng Securities and Guoxin Securities [22] - Legal Advisor: Beijing Hairun Tianrui Law Firm [22] - Audit Firm: Rongcheng Accounting Firm (Special General Partnership) [22] Performance Evaluation - The company was required to enhance disclosures regarding the impact of new fixed asset depreciation on future performance and to clarify risks associated with underperforming fundraising projects [5][22]. - The average time from application to listing for A-share companies in 2024 is 629.45 days, while Tongguan's listing cycle is 470 days, which is below the average [6][22]. Financial Metrics - The underwriting and sponsorship fees for Tongguan Mining are 15.47 million yuan, with a commission rate of 6.13%, lower than the average of 7.71% [8][23]. - The company's issuance price-earnings ratio is 15.48 times, compared to the industry average of 19.24 times, representing 80.46% of the industry average [14][27]. - Expected fundraising is 283 million yuan, while the actual amount raised is 252 million yuan, indicating a decrease of 10.70% [16][28]. Short-term Performance - In 2024, the company's operating revenue increased by 19.87% year-on-year, with net profit attributable to shareholders rising by 8.26% and non-recurring net profit increasing by 7.37% [18][28]. - On the first day of listing, the stock price rose by 731.41% compared to the issue price [10][25]. - After three months of listing, the stock price increased by 346.88% compared to the issue price [12][26].
天风证券保荐铜冠矿建IPO项目质量评级B级 信披质量有待提高