Company Overview - Chengdu Huamei Electronics Technology Co., Ltd. is listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board with the stock code 688709.SH [6] - The company operates in the computer, communication, and other electronic equipment manufacturing industry [6] Disclosure and Compliance - The company was required to enhance the specificity and relevance of risk factor disclosures and provide objective evidence for claims regarding technological leadership and market position [2] - The company has not been penalized for regulatory issues or public scrutiny [7] IPO Performance - The average time from application to listing for A-share companies in 2024 is 629.45 days, while Chengdu Huamei's listing cycle was 684 days, which is above the average [3] - The underwriting and sponsorship fees amounted to 69.5738 million yuan, with a commission rate of 4.64%, lower than the industry average of 7.71% [4] - On the first day of trading, the stock price increased by 25.49% compared to the issue price [5] - After three months of trading, the stock price rose by 34.74% from the issue price [8] Financial Metrics - The company's issuance price-to-earnings (P/E) ratio was 37.04, significantly higher than the industry average of 30.14, representing 122.89% of the average [9] - The expected fundraising amount was 1.584 billion yuan, but the actual amount raised was 1.5 billion yuan, indicating a decrease of 5.31% [10] Post-Listing Performance - In 2024, the company's revenue decreased by 34.79% year-on-year, while net profit attributable to shareholders fell by 60.73%, and non-recurring net profit dropped by 68.33% [11] - The abandonment rate for the IPO was 0.18% [12] Overall Evaluation - Chengdu Huamei's IPO project received a total score of 80, classified as B-level, with negative factors including the need for improved disclosure quality, a lengthy listing cycle, reduced fundraising, and declining revenue and profit in the first accounting year [12]
华泰联合保荐成都华微IPO项目质量评级B级 上市首年“业绩大变脸” 扣非净利润下降近7成