Company Overview - Full Name: Zhejiang Weihua New Materials Co., Ltd [1] - Abbreviation: Weihua New Materials [1] - Stock Code: 603310.SH [1] - IPO Application Date: June 22, 2022 [1] - Listing Date: August 14, 2024 [1] - Listing Board: Shanghai Stock Exchange Main Board [1] - Industry: Chemical Raw Materials and Chemical Products Manufacturing [1] - IPO Sponsor: CITIC Securities [1] - IPO Legal Advisor: Guohao Law Firm (Hangzhou) [1] - IPO Audit Firm: Lixin Certified Public Accountants (Special General Partnership) [1] Performance Evaluation - Disclosure Situation: Required to clarify compliance with relevant laws and regulations, accuracy of statements regarding trade customers, and consistency of IPO materials with public disclosures [1][2] - Regulatory Penalties: No deductions [2] - Public Supervision: No deductions [2] - Listing Cycle: 784 days, exceeding the average of 629.45 days for 2024 A-share listings, resulting in a deduction [2] - Multiple Applications: Not applicable, no deductions [2] Financial Metrics - Issuance Costs: Underwriting and sponsorship fees amount to 56.6586 million yuan, with a commission rate of 3.77%, lower than the average of 7.71% [3] - First Day Performance: Stock price increased by 35.65% on the first day of listing [3] - Three-Month Performance: Stock price increased by 12.21% compared to the issuance price [3] - Issuance Price-Earnings Ratio: 12.26 times, which is 61.09% of the industry average of 20.07 times [4] - Actual Fundraising: Expected to raise 1.758 billion yuan, but actual fundraising was 1.501 billion yuan, a decrease of 14.60% [5] Short-Term Performance Post-Listing - Revenue: Decreased by 25.47% year-on-year [6] - Net Profit: Decreased by 49.24% year-on-year [6] - Non-Recurring Net Profit: Decreased by 51.96% year-on-year [6] - Abandonment Rate: 0.44% [7] Overall Score - Total Score: 82 points, classified as Grade B [7] - Negative Factors Affecting Score: Disclosure quality needs improvement, listing cycle exceeds two years, actual fundraising decreased, revenue and net profit declined in the first accounting year, and abandonment rate of 0.44% [7]