上海誉帆环境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 - Shanghai Yufan Environmental Technology Co., Ltd. has received approval for its initial public offering (IPO) of A-shares and plans to list on the Shenzhen Stock Exchange, with a total of 26.73 million shares to be issued, accounting for 25% of the post-issue total share capital [1][2]. Group 1: IPO Details - The IPO price is set at 22.29 yuan per share, corresponding to a diluted price-to-earnings (P/E) ratio of 19.77 times based on the lower of the 2024 net profit before and after deducting non-recurring gains and losses [2][9]. - The issuance will consist entirely of new shares, with no existing shareholders transferring shares [1]. - The total number of shares to be issued is 26.73 million, with the entire amount being publicly offered [1]. Group 2: Pricing and Valuation - The P/E ratio of 19.77 is significantly lower than the average static P/E ratio of 35.36 for the "Professional Technical Services" industry as of December 15, 2025 [2][9]. - The pricing was determined after considering various factors, including market conditions, industry valuation levels, and the company's fundraising needs [17]. Group 3: Strategic Placement and Distribution - The issuance will involve a combination of strategic placements, offline inquiries, and online offerings, with strategic placements involving management and core employees, as well as large insurance companies and national investment funds [3][5]. - The final strategic placement amounted to 401.26 million shares, approximately 15.01% of the total issuance, with a portion of the initial strategic placement being reallocated to offline offerings [6]. Group 4: Company Strengths - The company has a strong research and development (R&D) capability, holding 125 patents, including 33 invention patents, and is recognized as a national-level "Little Giant" enterprise [11]. - The company has established a broad service network across major cities in China, enhancing its customer service capabilities [13]. - The company is recognized as a well-known brand in the industry, having completed thousands of projects and received various certifications and awards [14]. Group 5: Financial Projections and Use of Proceeds - The expected total fundraising from the IPO is 595.81 million yuan, which exceeds the planned fundraising amount of 543.89 million yuan [18]. - The net proceeds after deducting issuance costs are projected to be 515.38 million yuan [18].