今日申购！天溯计量发行价36.80元/股，市盈率21.78倍，募资额较原计划高出近2亿元

Core Viewpoint - Shenzhen Tiansu Measurement and Testing Co., Ltd. has initiated its subscription with an issue price of 36.80 yuan per share, corresponding to a price-to-earnings ratio of 21.78 times, which is lower than the industry average static P/E ratio of 35.72 times over the past month [1]. Group 1: Subscription Details - The underwriter, China Merchants Securities, received preliminary inquiry pricing information from 297 offline investors managing 8,430 allocation objects, with a price range of 33.00 yuan/share to 39.53 yuan/share [1]. - The highest bid of 39.53 yuan/share from two products managed by Zhongtian Securities was excluded, as was the lowest bid of 33.00 yuan/share from a product managed by Nanjing Jingheng Investment Management Co., Ltd. [2]. - After excluding invalid bids and the highest bids, the remaining price range for subscription is 33.00 yuan/share to 38.41 yuan/share, with a total subscription volume of 389.84 billion shares, resulting in a subscription multiple of 3,706.99 times the initial offline issuance scale [3]. Group 2: Company Financials - Tiansu Measurement is an independent third-party measurement and testing service provider, specializing in calibration, testing, and certification services across various sectors, including biomedicine, automotive, new energy, rail transportation, energy power, light industry, and equipment manufacturing [3]. - The projected operating revenues for Tiansu Measurement from 2022 to the first half of 2025 are 597 million yuan, 726 million yuan, 800 million yuan, and 409 million yuan, respectively, with corresponding net profits of 84 million yuan, 101 million yuan, 111 million yuan, and 56 million yuan [3]. - As per the prospectus, Tiansu Measurement plans to raise approximately 424 million yuan, with the total funds raised from this issuance expected to be around 600 million yuan, exceeding the original plan by approximately 176 million yuan [4].