江苏锡华新能源科技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 - Jiangsu Xihua New Energy Technology Co., Ltd. has received approval for its initial public offering (IPO) of A-shares and will be listed on the main board, with the issuance of 100 million shares at a price of 10.10 yuan per share [1][6]. Group 1: Issuance Details - The total number of shares to be issued is 100 million, all of which are new shares for public offering [1]. - The issuance will combine strategic placement, offline inquiry placement, and online pricing issuance [2]. - The strategic placement will involve senior management and core employees through a specific asset management plan [3]. Group 2: Pricing and Valuation - The determined issuance price is 10.10 yuan per share, corresponding to a price-to-earnings (P/E) ratio of 25.62 times based on the 2024 earnings before non-recurring gains and losses [6][7]. - The issuance price is below the median and weighted average of the remaining quotes from offline investors after the highest bids were excluded, which was 10.2549 yuan per share [7]. - The average static P/E ratio for the general equipment manufacturing industry is reported at 43.21 times as of December 9, 2025 [7]. Group 3: Fundraising and Use of Proceeds - The expected total fundraising amount is 10.1 billion yuan, which is lower than the previously disclosed fundraising requirement of 1.4978426 billion yuan [11]. - After deducting issuance costs, the net amount expected to be raised is approximately 925.77 million yuan [11]. Group 4: Lock-up Periods and Trading - The shares issued in the online offering will have no circulation restrictions and can be traded immediately upon listing [11]. - For offline investors, 10% of the allocated shares will be subject to a six-month lock-up period, while 90% will be tradable immediately [11][12].