Summary of Key Points Core Viewpoint - Shaanxi Tourism Cultural Industry Co., Ltd. is set to list its ordinary shares on the Shanghai Stock Exchange on January 6, 2026, following approval from the exchange [1]. Group 1: Listing Overview - The company will issue a total of 77,333,334 shares, with 19,333,334 shares available for public offering, representing 25% of the total share capital post-issuance [4]. - The stock will be traded under the name "Shaanxi Tourism" with the stock code 603402 [4]. Group 2: Initial Trading Risks - The first five trading days will have no price fluctuation limits, which may lead to significant price volatility [2]. - The initial circulation of shares will be limited due to a lock-up period for original shareholders lasting either 36 months or 12 months, potentially leading to liquidity risks [3]. - The stock will be eligible for margin trading from the first day of listing, which may introduce additional price volatility and market risks [3]. Group 3: Valuation Metrics - The offering price of 80.44 yuan per share corresponds to a diluted price-to-earnings (P/E) ratio of 12.37, which is below the industry average P/E ratio of 26.90 [5][7]. - The company is advised to consider the pricing rationality and potential risks of future stock price declines [7].
陕西旅游文化产业股份有限公司首次公开发行股票主板上市公告书提示性公告