Company Overview - Dongguan Changlian New Materials Technology Co., Ltd. is set to be listed on the Shenzhen Stock Exchange's ChiNext board on September 30, 2024, with the stock code 301618.SZ. The IPO was filed on June 28, 2022, and the underwriting is handled by Dongguan Securities [1]. Regulatory and Performance Evaluation - The company has been required to delete certain outdated regulations from its prospectus and provide additional disclosures related to recent laws and policies affecting its operations [1]. - The average time from application to listing for A-share companies in 2024 is 629.45 days, while Changlian Technology's listing cycle is 825 days, which is above the average [2]. - The underwriting and sponsorship fees amount to 36.4741 million yuan, with a commission rate of 10.72%, exceeding the average rate of 7.71% [3]. - On the first day of trading, the stock price surged by 1703.98% compared to the issue price [3]. - Over the first three months post-listing, the stock price increased by 318.80% from the issue price [4]. Financial Metrics - The company's issuance price-to-earnings (P/E) ratio is 17.00, which is 91.25% of the industry average of 18.63 [5]. - The expected and actual fundraising amount is 340 million yuan [6]. Short-term Performance - In 2024, the company's revenue increased by 4.38% year-on-year, while the net profit attributable to shareholders decreased by 15.12%, and the net profit excluding non-recurring items fell by 17.00% [7]. - The abandonment rate for the IPO was 0.74% [8]. Overall Assessment - Changlian Technology's IPO project scored 83.5 points, classified as B-level. Negative factors affecting the score include the need for improved information disclosure quality, a listing cycle exceeding two years, high issuance costs, and a decline in net profit in the first accounting year [8].
东莞证券保荐长联科技IPO项目质量评级B级 承销保荐费用率较高 上市首年增收不增利