Summary of Key Points Core Viewpoint - Yangzhou Tianfulong Group Co., Ltd. is set to list its ordinary shares on the Shanghai Stock Exchange on August 8, 2025, following approval from the Shanghai Stock Exchange [1] Company Overview - The stock will be listed under the name "Tianfulong" with the stock code 603406 - The total share capital after the initial public offering (IPO) will be 400,010,000 shares, with 40,010,000 shares being newly issued [3] Financial Metrics - The IPO price is set at 23.60 CNY per share, which corresponds to a diluted price-to-earnings (P/E) ratio of: - 18.73 times based on earnings before non-recurring items for 2024 [3] - 18.84 times based on earnings after non-recurring items for 2024 [3] - 20.81 times based on earnings before non-recurring items after the IPO [4] - 20.93 times based on earnings after non-recurring items after the IPO [4] - The average static P/E ratio for the chemical fiber manufacturing industry is reported at 32.30 times [4] Market Risks - The initial trading period will have no price fluctuation limits for the first five trading days, which may lead to significant price volatility [2] - The number of freely tradable shares is limited, with only 35,539,898 shares available for trading, representing 8.88% of the total share capital post-IPO, indicating potential liquidity risks [3] Investment Considerations - The stock will be eligible for margin trading from the first day of listing, which may introduce additional price volatility and market risks [5]
扬州天富龙集团股份有限公司 首次公开发行股票主板上市公告书提示性公告