Xin Lang Cai Jing·2025-09-09 07:42Company 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] - Lead Underwriters: Haitong Securities [1] - Legal Advisor: Beijing Deheng Law Offices [1] - Audit Firm: Zhonghui Certified Public Accountants [1] Regulatory and Performance Summary - Disclosure Issues: Required to supplement opinions on compliance with ChiNext requirements and disclose related party transactions [1] - Regulatory Penalties: No penalties imposed [1] - Public Supervision: No penalties imposed [1] - Listing Cycle: 759 days, exceeding the average of 629.45 days for 2024 A-share listings [1] - Multiple Applications: Not applicable, no penalties [1] Financial Metrics - Underwriting and Sponsorship Fees: CNY 40 million, with a commission rate of 10.05%, higher than the average of 7.71% [1] - First Day Performance: Stock price increased by 348.76% compared to the issue price [1] - Three-Month Performance: Stock price increased by 74.77% compared to the issue price [1] - Issuance Price-Earnings Ratio: 22.40 times, which is 93.06% of the industry average of 24.07 times [1] - Expected Fundraising: CNY 707 million, actual fundraising was CNY 398 million, a decrease of 43.71% [1] Post-Listing Performance - Revenue Growth: 9.01% increase in revenue compared to the previous year [1] - Net Profit Decline: 13.07% decrease in net profit attributable to shareholders compared to the previous year [1] - Non-Recurring Net Profit Decline: 19.47% decrease compared to the previous year [1] - Abandonment Rate: 0.84% [1] Overall Assessment - Total Score for IPO Project: 80.5 points, classified as Grade B [1] - Negative Factors Affecting Score: Disclosure quality needs improvement, listing cycle exceeds two years, high issuance cost ratio, significant reduction in actual fundraising, and decline in net profit in the first accounting year [1]