Company Overview - Company Name: Shandong Boyuan Pharmaceutical Chemical Co., Ltd [1] - Stock Code: 301617.SZ [1] - IPO Application Date: June 17, 2022 [1] - Listing Date: December 11, 2024 [1] - Industry: Chemical Raw Materials and Chemical Products Manufacturing [1] - Underwriter: Zhongtai Securities [1] Regulatory and Performance Evaluation - Disclosure Issues: The company was required to explain the omission of sales personnel numbers and ensure the accuracy of related party disclosures [1] - Listing Cycle: The average listing cycle for A-share companies in 2024 is 629.45 days, while Boyuan's cycle is 908 days, exceeding the average [2] - Underwriting Fees: The underwriting and sponsorship fees amount to 50.9165 million yuan, with a commission rate of 7.14%, lower than the average of 7.71% [3] Market Performance - First Day Performance: The stock price increased by 188.47% on the first day of listing [4] - Three-Month Performance: The stock price rose by 98.41% compared to the issue price within three months [6] Financial Metrics - Issuance Price-Earnings Ratio: The issuance P/E ratio is 15.86 times, which is 69.59% of the industry average of 22.79 times [7] - Fundraising Amount: Expected fundraising was 753 million yuan, but the actual amount raised was 713 million yuan, a decrease of 5.13% [8] - Short-Term Performance: In 2024, the company's revenue increased by 29.53% year-on-year, and net profit attributable to shareholders grew by 17.04% [9] Overall Evaluation - Total Score: Boyuan's IPO project scored 82 points, classified as Grade B [10] - Negative Factors: Issues include the need for improved disclosure quality, a lengthy listing cycle, reduced actual fundraising, and a subscription rate of 0.23% [10]