Xin Lang Zheng Quan·2025-09-09 07:05Company Overview - Full Name: Ningbo Lian Technology Co., Ltd [1] - Abbreviation: Lian Technology [1] - Stock Code: 300784.SZ [1] - IPO Application Date: May 10, 2022 [1] - Listing Date: June 7, 2024 [1] - Listing Board: Shenzhen ChiNext [1] - Industry: Rubber and Plastic Products [1] - IPO Sponsor: Haitong Securities [1] - Legal Advisor: Beijing Deheng Law Firm [1] - Audit Firm: Zhonghui Certified Public Accountants [1] Performance Evaluation - Disclosure Issues: Required to supplement and improve the special opinion on compliance with ChiNext requirements; needed to clarify related party relationships and transactions; required to explain changes in the top five suppliers in the prospectus [1] - Regulatory Penalties: No deductions [2] - Public Supervision: No deductions [2] - Listing Cycle: 759 days, exceeding the average of 629.45 days for 2024 A-share listings [2] - Multiple Applications: Not applicable, no deductions [2] Financial Metrics - Issuance Costs: Underwriting and sponsorship fees of 40 million yuan, with a commission rate of 10.05%, higher than the average of 7.71% [3] - Initial Listing Performance: Stock price increased by 348.76% on the first day of listing [4] - Three-Month Performance: Stock price increased by 74.77% compared to the issuance price [5] - Issuance Price-Earnings Ratio: 22.40 times, which is 93.06% of the industry average of 24.07 times [6] - Actual Fundraising: Expected to raise 707 million yuan, but actual fundraising was 398 million yuan, a decrease of 43.71% [7] Short-Term Performance - Revenue Growth: 9.01% increase in operating income compared to the previous year [8] - Net Profit Decline: 13.07% decrease in net profit attributable to shareholders compared to the previous year [8] - Non-Recurring Profit Decline: 19.47% decrease in non-recurring net profit compared to the previous year [8] - Abandonment Rate: 0.84% [8] Overall Score - Total Score: 80.5 points, classified as Grade B [8] - Negative Factors Affecting Score: Disclosure quality needs improvement, listing cycle exceeds two years, high issuance cost rate, significant reduction in actual fundraising, decline in net profit in the first accounting year, and abandonment rate of 0.84% [8]