Company Overview - The full name of the company is Shaanxi Kolong New Materials Technology Co., Ltd. [2] - The stock abbreviation is Kolong New Materials, and the stock code is 920098.BJ [2] - The IPO application date is October 31, 2023, with a planned listing date of December 5, 2024, on the Beijing Stock Exchange [3] Underwriting and Legal Information - The underwriting institution is Guoxin Securities, with representatives Pan Jianzhong and Shen Lijun [3] - The legal advisor is Beijing Jiayuan Law Firm, and the auditing firm is Zhihong Accounting Firm (Special General Partnership) [3] Performance Evaluation - The total score for the Kolong New Materials IPO project is 94 points, classified as Grade A [4] - A negative factor affecting the score is the need for improvement in the company's information disclosure quality [4] Information Disclosure Issues - The issuer has not disclosed patent names, effective periods, and is required to supplement information regarding market supply and demand, competition status, and product market share [6][23] - Additional disclosures are required regarding the revenue recognition process for military product sales [6][23] Listing Cycle and Costs - The average listing cycle for A-share companies in 2024 is 629.45 days, while Kolong New Materials' listing cycle is 401 days, which is below the average [8][24] - The underwriting and sponsorship fees amount to 17.2831 million yuan, with a commission rate of 7.16%, lower than the average of 7.71% [10][25] Market Performance - On the first day of listing, the stock price increased by 201.36% compared to the issue price [12][27] - In the first three months post-listing, the stock price rose by 146.93% compared to the issue price [14][28] Financial Metrics - The issue price-to-earnings ratio is 14.86 times, significantly lower than the industry average of 24.01 times, representing 61.89% of the industry average [16][29] - The expected fundraising amount is 236 million yuan, with actual fundraising reaching 242 million yuan, resulting in an oversubscription rate of 2.25% [18][30] Short-term Performance - In 2024, the company's operating revenue increased by 9.46% year-on-year, while the net profit attributable to the parent company grew by 4.25%, and the net profit after deducting non-recurring gains and losses increased by 5.73% [19][31]
国新证券保荐科隆新材IPO项目质量评级A级 信披质量有提升空间