Summary of Key Points Core Viewpoint - Xiamen Hengkang New Materials Technology Co., Ltd. is set to list its ordinary shares on the Shanghai Stock Exchange's Sci-Tech Innovation Board on November 18, 2025, following approval from the exchange [2]. Group 1: Listing Overview - The stock will be referred to as "Hengkang New Materials" with the stock code 688727 [6]. - The total share capital after the IPO will be 449,319,600 shares, with 67,397,940 shares being newly issued [6]. - The IPO price is set at 14.99 yuan per share, corresponding to a price-to-earnings (P/E) ratio of 59.07 times based on the 2024 earnings before non-recurring gains and losses [8]. Group 2: Risks Associated with IPO - The first five trading days post-IPO will not have a price fluctuation limit, which may lead to significant price volatility [4]. - The number of freely tradable shares at the beginning will be limited, with only 50,243,165 shares available for trading, representing 11.18% of the total share capital [5]. - The company's P/E ratio is higher than the industry average of 60.47 times, indicating potential valuation concerns [7][8].
厦门恒坤新材料科技股份有限公司 首次公开发行股票科创板上市公告书提示性公告