Company Overview - Full Name: Suzhou Kema Material Technology Co., Ltd [1] - Abbreviation: Kema Technology [1] - Stock Code: 301611.SZ [1] - IPO Application Date: June 29, 2022 [1] - Listing Date: August 16, 2024 [1] - Listing Board: Shenzhen ChiNext [1] - Industry: Manufacturing of Computers, Communications, and Other Electronic Devices [1] - IPO Sponsor: CITIC Securities [1] - Lead Underwriters: CITIC Securities [1] - Legal Advisor: Shanghai Tongli Law Firm [1] - Audit Firm: PwC Zhongtian [1] IPO Performance - IPO Disclosure: Required to comprehensively revise the prospectus sections on "Major Issues" and "Risk Factors" to enhance relevance for investment decisions [1] - Regulatory Penalties: No penalties imposed [1] - Public Supervision: No penalties imposed [1] - Listing Cycle: Kema Technology's listing cycle is 779 days, exceeding the average of 629.45 days for 2024 A-share companies [1] - Multiple Applications: Not applicable, no penalties [1] Financial Metrics - Underwriting and Sponsorship Fees: CNY 58.99 million, with a commission rate of 9.83%, higher than the average of 7.71% [1] - First Day Performance: Stock price increased by 368.25% compared to the issue price [1] - Three-Month Performance: Stock price increased by 680.63% compared to the issue price [1] - Issuance Price-Earnings Ratio: 44.90 times, compared to the industry average of 32.63 times, representing 137.60% of the industry average [1] - Actual Fundraising: Expected to raise CNY 987 million, but actual fundraising was CNY 600 million, a decrease of 39.21% [1] Post-Listing Performance - Short-Term Performance: In 2024, the company's revenue increased by 78.45% year-on-year, and net profit attributable to shareholders increased by 279.88% year-on-year, with non-recurring net profit increasing by 293.56% year-on-year [1] - Abandonment Rate: 0.16% [1] Overall Assessment - Total Score for IPO Project: 79 points, classified as Grade C [1] - Negative Factors Affecting Score: Disclosure quality needs improvement, listing cycle exceeds two years, high issuance cost ratio, high issuance price-earnings ratio, reduced actual fundraising amount, and abandonment rate of 0.16% [1]