Sinocat(SH:688737) Zhong Guo Jing Ji Wang·2026-01-29 08:57Summary of Key Points Core Viewpoint - Zhongzi Technology (688737.SH) is currently experiencing a decline in stock price, closing at 25.30 yuan with a drop of 5.21%, indicating that the stock is in a state of underperformance since its IPO [1]. Group 1: IPO Details - Zhongzi Technology was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on October 22, 2021, with an initial public offering of 21.5087 million shares at a price of 70.90 yuan per share [1]. - The highest price recorded on the first day of trading was 70.50 yuan, marking the peak since its listing [2]. - The total funds raised from the IPO amounted to 1.525 billion yuan, with a net amount of 1.407 billion yuan after deducting issuance costs, which was 52.7168 million yuan less than the original plan [2]. Group 2: Fund Allocation and Financials - The funds raised were intended for several projects, including the establishment of a smart manufacturing park for new catalysts, a smart manufacturing industrial park for automotive after-treatment devices, and the development of key materials for hydrogen fuel cells [2]. - The total issuance costs for the IPO were 118 million yuan, with underwriting fees accounting for 93.5123 million yuan [3]. - As of July 11, 2023, the company announced a capital distribution plan, resulting in a stock increase of 4 shares for every 10 shares held, leading to a total share count of 120,242,886 after the distribution [3].