Company Overview - Company Name: Suzhou Tianmai Thermal Conductive Technology Co., Ltd [1] - Stock Code: 301626.SZ [1] - IPO Application Date: June 16, 2022 [1] - Listing Date: October 24, 2024 [1] - Industry: Computer, Communication, and Other Electronic Equipment Manufacturing [1] - Underwriter: Guotou Securities [1] Disclosure and Evaluation - Disclosure Quality: Required to improve the quality of information disclosure and provide details on major clients under the VMI model [1] - Regulatory Penalties: No penalties imposed [2] - Public Supervision: No deductions for public supervision [2] - Listing Cycle: Listed in 861 days, exceeding the average of 629.45 days for 2024 A-share listings [2] - Multiple Applications: Not applicable, no deductions [3] Financial Metrics - Underwriting Fees: Total underwriting and sponsorship fees amounted to 46.05 million yuan, with a commission rate of 7.50%, lower than the average of 7.71% [3] - Initial Listing Performance: Stock price increased by 455.68% on the first day of listing [4] - Three-Month Performance: Stock price rose by 314.60% within three months post-listing [5] - Issuance Price-Earnings Ratio: Issuance P/E ratio of 16.31, significantly lower than the industry average of 31.49, representing 51.79% of the industry average [6] - Fundraising: Expected to raise 464 million yuan, actual fundraising reached 614 million yuan, with an oversubscription rate of 32.33% [7] Short-term Performance - Revenue Growth: Company revenue increased by 1.62% year-on-year [8] - Net Profit Growth: Net profit attributable to shareholders grew by 20.26% year-on-year [8] - Non-recurring Net Profit Growth: Non-recurring net profit increased by 18.79% year-on-year [8] - Subscription Rate: Abandonment rate of 0.21% [9] Overall Evaluation - Total Score: Suzhou Tianmai's IPO project scored 83.5 points, classified as B-level [9] - Negative Factors: Disclosure quality needs improvement, listing cycle exceeds two years, and abandonment rate of 0.21% [9]
国投证券保荐苏州天脉IPO项目质量评级B级 上市周期超两年