Company Overview - Full Name: Guangzhou HuanTou Yongxing Group Co., Ltd [1] - Abbreviation: Yongxing Co., Ltd [1] - Stock Code: 601033.SH [1] - IPO Application Date: September 30, 2022 [1] - Listing Date: January 18, 2024 [1] - Listing Board: Shanghai Stock Exchange Main Board [1] - Industry: Ecological Protection and Environmental Governance [1] - IPO Sponsoring Institution: CITIC Securities [1] - IPO Underwriters: Guotai Junan Securities, CITIC Securities [1] - IPO Legal Advisor: Beijing Zhonglun Law Firm [1] - IPO Audit Institution: Dahua Certified Public Accountants (Special General Partnership) [1] IPO Performance - Average Days from Application to Listing: 629.45 days for 2024 A-share companies; Yongxing's listing cycle is 475 days, which is below the overall average [2] - Underwriting and Sponsorship Fees: 84.66 million yuan, with a commission rate of 3.48%, lower than the overall average of 7.71% [3] - First Day Stock Performance: Stock price increased by 37.10% compared to the issue price [3] - Stock Performance in Three Months: Stock price decreased by 2.84% compared to the issue price [4] Financial Metrics - Issuance Price-Earnings Ratio: Yongxing's issuance P/E ratio is 21.76 times, which is 120.62% of the industry average of 18.04 times [5] - Actual Fundraising: Expected fundraising of 4.599 billion yuan, with actual fundraising of 2.430 billion yuan, representing a decrease of 47.16% [6] - Short-term Performance Post-Listing: In 2024, the company's operating income increased by 6.45% year-on-year, net profit attributable to shareholders increased by 11.67% year-on-year, and net profit excluding non-recurring gains and losses increased by 15.57% year-on-year [7] Evaluation and Scoring - Abandonment Rate: 0.47% [8] - Total Score for IPO Project: 89.5 points, classified as B-level [8] - Negative Factors Affecting Score: Disclosure quality needs improvement, stock price decline in three months, significant reduction in actual fundraising amount, and abandonment rate of 0.47% [8]