德力佳传动科技（江苏）股份有限公司首次公开发行股票并在主板上市投资风险特别公告

Core Viewpoint - The company, Delijia Transmission Technology (Jiangsu) Co., Ltd., has received approval for its initial public offering (IPO) of 40,000,100 shares at a price of 46.68 yuan per share, with the listing scheduled for October 28, 2025 [1][6][10]. Group 1: IPO Details - The IPO will consist of a combination of strategic placements, offline inquiries, and online offerings [1][2]. - The final offering price of 46.68 yuan per share corresponds to a price-to-earnings (P/E) ratio of 31.48 times based on the 2024 earnings before non-recurring items [6][10]. - The total expected fundraising amount is approximately 186.72 million yuan, which is below the initial fundraising target of 188.08 million yuan [10][11]. Group 2: Investor Participation - Strategic placement investors include management and core employees through specific asset management plans, as well as large enterprises with strategic cooperation [3][4]. - The offline inquiry process will determine the final offering price, with a total of 137 bidders eliminated based on their proposed prices [4][10]. - Investors are required to submit their subscription funds by October 30, 2025, and must adhere to specific subscription rules [15][16]. Group 3: Market Context - The average P/E ratio for the general equipment manufacturing industry is reported at 44.03 times, indicating that the offering price is competitive compared to industry standards [7][10]. - The offering price is lower than the median and weighted average of the remaining bids from institutional investors, suggesting a market-driven pricing approach [7][10]. - The company’s stock will have no restrictions on circulation post-listing, allowing immediate trading [11][12].