Company Overview - Full Name: Jianerkang Medical Technology Co., Ltd [1] - Abbreviation: Jianerkang [1] - Stock Code: 603205.SH [1] - IPO Application Date: June 22, 2022 [1] - Listing Date: November 7, 2024 [1] - Listing Board: Shanghai Stock Exchange Main Board [1] - Industry: Specialized Equipment Manufacturing [1] - IPO Sponsor: CITIC Jianan Securities [1] - Legal Advisor: Shanghai Guangfa Law Firm [1] - Audit Firm: Tianheng Accounting Firm (Special General Partnership) [1] Regulatory and Performance Evaluation - Disclosure Situation: Required to clarify compliance with main board positioning and regulatory requirements [1] - Regulatory Penalties: No deductions [2] - Public Supervision: No deductions [2] - Listing Cycle: Jianerkang's listing cycle is 869 days, exceeding the average of 629.45 days for 2024 A-share companies [2] - Multiple Applications: Not applicable, no deductions [3] - Issuance Costs: Underwriting and sponsorship fees amount to 26.95 million yuan, with a commission rate of 6.13%, lower than the average of 7.71% [3] Market Performance - First Day Performance: Stock price increased by 378.36% on the first day of listing [4] - Three-Month Performance: Stock price increased by 152.42% within three months post-listing [5] - Issuance Price-Earnings Ratio: Jianerkang's issuance P/E ratio is 14.59 times, significantly lower than the industry average of 26.68 times, representing 54.69% of the industry average [6] Fundraising and Financial Performance - Actual Fundraising: Expected to raise 774 million yuan, but actual fundraising was 440 million yuan, a decrease of 43.20% [7] - Short-term Performance Post-Listing: In 2024, the company's revenue increased by 1.18% year-on-year, while net profit attributable to shareholders decreased by 2.69%, and non-recurring net profit decreased by 4.41% year-on-year [8] - Abandonment Rate: The abandonment rate is 0.41% [8] Overall Evaluation - Total Score: Jianerkang's IPO project received a total score of 83, classified as Grade B [8] - Negative Factors Impacting Score: Disclosure quality needs improvement, listing cycle exceeds two years, significant reduction in actual fundraising, decline in net profit in the first accounting year, and abandonment rate of 0.41% [8]