Company Overview - Full Name: Zhengzhou Suda Industrial Machinery Service Co., Ltd [1] - Abbreviation: Suda Co., Ltd [1] - Stock Code: 001277.SZ [1] - IPO Application Date: June 22, 2022 [1] - Listing Date: September 3, 2024 [1] - Listing Board: Shenzhen Main Board [1] - Industry: Metal Products, Machinery and Equipment Repair [1] - IPO Sponsor: Guosen Securities [1] - Lead Underwriters: Ge Tiwu, Liu Lingyun [1] - IPO Legal Advisor: Beijing Zhonglun Law Firm [1] - IPO Audit Firm: Tianjian Accounting Firm (Special General Partnership) [1] IPO Details - The company is described as a leading provider of aftermarket services in domestic service, repair, and remanufacturing technology [1] - The average listing cycle for A-share companies in 2024 is 629.45 days, while Suda Co., Ltd's listing cycle is 804 days, exceeding the average [1] - The underwriting and sponsorship fees amount to 56.5 million yuan, with a commission rate of 9.29%, higher than the average of 7.71% [1] Market Performance - On the first day of listing, the stock price increased by 36.16% compared to the issue price [1] - Over the first three months post-listing, the stock price rose by 15.59% compared to the issue price [1] Financial Metrics - The company's issue price-to-earnings ratio is 15.05 times, which is 71.09% of the industry average of 21.17 times [1] - Expected fundraising is 608 million yuan, with actual fundraising also at 608 million yuan [1] Short-term Performance - In 2024, the company's operating revenue decreased by 6.89% year-on-year, while net profit attributable to shareholders fell by 13.55%, and non-recurring net profit decreased by 15.82% year-on-year [1] - The abandonment rate for the IPO was 1.02% [1] Overall Assessment - The total score for Suda Co., Ltd's IPO project is 79.5 points, classified as Grade C [1] - Negative factors affecting the score include the need for improved information disclosure quality, a listing cycle exceeding two years, multiple applications, a high issuance cost rate, and a decline in revenue and profit in the first accounting year post-listing [1]
国信证券保荐速达股份IPO项目质量评级C级上市周期超两年上市首年营收净利润双降