Xin Lang Zheng Quan·2025-09-09 08:18Company Overview - Full Name: Hubei Ping An Electric Technology Co., Ltd [1] - Abbreviation: Ping An Electric [1] - Stock Code: 001539.SZ [1] - IPO Application Date: July 1, 2022 [1] - Listing Date: March 28, 2024 [1] - Listing Board: Shenzhen Main Board [1] - Industry: Non-metallic Mineral Products [1] - IPO Sponsor: CITIC Securities [1] - IPO Legal Advisor: Beijing Deheng Law Offices [1] - IPO Audit Firm: Tianjian Accounting Firm (Special General Partnership) [1] Performance Evaluation - Disclosure Issues: Required to explain the background and reasons for signing the "Joint Action Agreement" and the basis for recognizing joint control without it [1] - Regulatory Penalties: No deductions [2] - Public Supervision: No deductions [2] - Listing Cycle: 636 days, which is longer than the average of 629.45 days for A-share companies in 2024 [2] - Multiple Applications: Not applicable, no deductions [2] Financial Metrics - Issuance Costs: Underwriting and sponsorship fees amount to 55.3274 million yuan, with a commission rate of 6.86%, lower than the average of 7.71% [3] - Initial Listing Performance: Stock price increased by 90.40% on the first day of listing [4] - Three-Month Performance: Stock price increased by 29.49% within three months post-listing [5] - Issuance Price-Earnings Ratio: 25.88 times, significantly higher than the industry average of 14.58 times, representing 177.58% of the industry mean [6] - Actual Fundraising: Expected to raise 887 million yuan, but actual fundraising was 807 million yuan, a decrease of 9.09% [7] Short-term Performance - Revenue Growth: 2024 revenue increased by 14.04% year-on-year [8] - Net Profit Growth: Net profit attributable to shareholders increased by 31.18% year-on-year [8] - Non-recurring Net Profit Growth: Non-recurring net profit attributable to shareholders increased by 27.61% year-on-year [8] - Subscription Rate: Abandonment rate of 0.47% [8] Overall Score - Total Score: 80 points, classified as Grade B [8] - Negative Factors: Disclosure quality needs improvement, long listing cycle, high issuance P/E ratio, reduced actual fundraising amount, and abandonment rate of 0.47% [8]