Listing Overview - Beijing Angrui Microelectronics Technology Co., Ltd. will list its ordinary shares on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 16, 2025 [1] - The stock code for Angrui Micro is 688790, with a total share capital of 99,531,688 shares after the public offering [3] - The number of shares offered in this public offering is 24,882,922, all of which are new shares with no existing shares being transferred [3] Share Structure and Liquidity - After the issuance, the number of unrestricted circulating shares at the initial listing will be 12,057,671 shares, accounting for 12.11% of the total share capital [4] - The company may face liquidity risks due to the limited number of circulating shares at the initial listing [4] Valuation Metrics - The offering price of 83.06 yuan per share corresponds to a diluted static price-to-sales ratio of 3.93 times based on the projected revenue for 2024 [6] - This price-to-sales ratio is lower than the average level of comparable companies in the industry, indicating potential valuation attractiveness [6] Comparable Company Analysis - As of December 2, 2025, comparable listed companies in the same industry have varying price-to-sales ratios, which are essential for assessing Angrui Micro's market position [5] Risk Factors - The stock will be subject to a price fluctuation limit of 20%, with no limit on the first five trading days, which may lead to significant price volatility [2] - The company has not yet achieved profitability and will be classified under the Sci-Tech Growth Tier upon listing, which may affect investor sentiment [2]
北京昂瑞微电子技术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