Xin Lang Cai Jing·2025-09-09 08:47Company Overview - Company Name: Zhonglun New Materials Co., Ltd [1] - Stock Code: 301565.SZ [1] - IPO Application Date: May 25, 2022 [1] - Listing Date: June 20, 2024 [1] - Underwriter: Haitong Securities [1] - Legal Advisor: Beijing Guofeng Law Firm [1] - Audit Firm: Rongcheng Accounting Firm [1] Regulatory and Performance Evaluation - Information Disclosure: The company was required to clarify its compliance with the Growth Enterprise Market (GEM) positioning and the accuracy of its information disclosure [1] - Average Listing Duration: The average time from application to listing for A-share companies in 2024 is 629.45 days, while Zhonglun's listing cycle is 757 days, exceeding the average [2] - Underwriting Fees: The underwriting and sponsorship fees amount to 50 million yuan, with a commission rate of 7.01%, lower than the industry average of 7.71% [3] - First Day Performance: The stock price increased by 228.11% on the first day of listing [4] - Three-Month Performance: The stock price rose by 39.81% compared to the issue price within three months [7] Financial Metrics - Issuance Price-Earnings Ratio: The issuance P/E ratio is 23.63 times, which is 99.70% of the industry average of 23.70 times [8] - Fundraising Amount: The expected fundraising amount is 2.351 billion yuan, while the actual amount raised is 713 million yuan, indicating a decrease of 69.67% [9] - Short-term Performance: In 2024, the company's operating income increased by 5.14% year-on-year, while net profit attributable to the parent company decreased by 45.13%, and non-recurring net profit decreased by 48.18% year-on-year [10] Overall Evaluation - Total Score: Zhonglun's IPO project received a total score of 81 points, classified as Grade B [11] - Negative Factors: The score was negatively impacted by the need for improved information disclosure quality, a listing cycle exceeding two years, significant reduction in actual fundraising, and a decline in net profit in the first accounting year [11]