Core Points - The company Beikang Testing has initiated its public offering with an issue price of 6.70 yuan and a price-to-earnings ratio of 14.99 times [1] - The total number of shares offered is 28.32 million, with a post-issue total share capital of 113 million [1] - The company aims to raise a total of 190 million yuan, primarily for the development of advanced testing instruments and to supplement working capital [1] Company Financials - The projected net profits for the company from 2022 to 2024 are 31.96 million yuan, 45.58 million yuan, and 55.13 million yuan, reflecting year-on-year changes of -17.16%, 42.61%, and 20.95% respectively [1] - Key financial indicators for 2024 include total assets of 346.70 million yuan, net assets of 302.62 million yuan, and operating income of 148.02 million yuan [1] - The company’s basic earnings per share for 2024 is projected at 0.65 yuan, with a weighted average return on equity of 19.47% [1] Fund Allocation - The investment allocation for the raised funds includes approximately 142.58 million yuan for the development of advanced testing instruments and 36.22 million yuan for working capital [1]

Core Viewpoint - This week (November 3 to 7), there are three new stocks available for subscription, including one from the Sci-Tech Innovation Board, one from the ChiNext, and one from the Beijing Stock Exchange [1] Group 1: New Stock Offerings - The Beijing Stock Exchange new stock, Beikang Testing, has an issue price of 6.7 yuan and a price-to-earnings ratio of 14.99, compared to the industry average dynamic P/E ratio of 38.04 over the past month [2] - The Sci-Tech Innovation Board new stock, Hengkang New Materials, focuses on the research and industrial application of key materials in the integrated circuit field, being one of the few domestic companies capable of R&D and mass production of 12-inch integrated circuit wafer manufacturing key materials. The IPO aims to raise 1.007 billion yuan for projects related to integrated circuit precursors and advanced materials [2] - Nanjing Digital, also launching on November 7, aims to provide comprehensive digital construction solutions for clients in the power and energy sectors, with plans to raise 2.554 billion yuan through its IPO [2][3] Group 2: Upcoming IPO Meetings - Four companies are scheduled for IPO meetings this week: Shaanxi Tourism and Zhixin Co., Ltd. for the Shanghai Stock Exchange, and Haisheng Medical and Qilong Ocean for the Beijing Stock Exchange [4] - Zhixin Co., Ltd. specializes in the development, processing, production, and sales of automotive welding parts and related molds, with plans to raise 1.329 billion yuan through its IPO [4] - Shaanxi Tourism integrates tourism performances, cable cars, and dining services, leveraging high-quality tourism resources like Huaqing Palace and Huashan. The company aims to raise 1.555 billion yuan through its IPO [5]

Core Insights - Three new stocks are available for subscription from November 3 to November 7, including Beikong Detection, Hengkong New Materials, and Nanfang Digital [1][2] - The companies focus on inspection and testing services, photolithography materials, and digital solutions for the power energy sector [1][3] Group 1: New Stock Offerings - Beikong Detection's issue price is set at 6.70 CNY per share [1][2] - Hengkong New Materials and Nanfang Digital have estimated issue prices of 16.69 CNY and 5.51 CNY per share, respectively [1][2] Group 2: Company Profiles - Beikong Detection specializes in inspection and testing services, including entrusted and arbitration testing, primarily for minerals and smelting products [3] - Hengkong New Materials focuses on the research, production, and sales of photolithography and precursor materials, including various types of photoresists [3] - Nanfang Digital provides comprehensive digital construction solutions for the power energy sector, with products including intelligent operation systems and data center services [3] Group 3: Market Overview - In 2024, a total of 100 new stocks are expected to be listed, with a first-day breaking rate of 1% [3] - Since the beginning of 2025, 87 new stocks have been listed in the A-share market, with no instances of first-day breaking [3]

Summary of Upcoming IPOs - Three new stocks will be available for subscription next week, with one each from the Beijing Stock Exchange, ChiNext, and the Sci-Tech Innovation Board [1][2] - The subscription dates are November 3 for Beijing Mining Testing and November 7 for South Network Digital and Hengkun New Materials [1][2] Company Profiles Beijing Mining Testing - The offering price is set at 6.70 CNY per share with a price-to-earnings ratio of 14.99 [2][3] - It is recognized as a leading R&D and service provider in the field of non-ferrous metal testing and is classified as a national-level "little giant" enterprise [3] - Revenue projections for 2022 to 2024 are 92 million CNY, 110 million CNY, and 148 million CNY, with net profits of 32 million CNY, 46 million CNY, and 55 million CNY respectively [3] South Network Digital - This company is a leader in the energy digitalization sector and plans to issue 47,694,750 shares [4][5] - It ranks third in the number of shares issued this year and first among ChiNext IPOs, indicating a potentially high subscription rate [4] - Revenue forecasts for 2022 to 2024 are 5.686 billion CNY, 4.234 billion CNY, and 6.09 billion CNY, with net profits of 653 million CNY, 377 million CNY, and 570 million CNY respectively [5] Hengkun New Materials - Hengkun New Materials focuses on key materials for integrated circuits and plans to issue 6,739,790 shares [6][7] - The company specializes in the R&D and production of photoresist materials and is one of the few domestic firms capable of producing key materials for 12-inch integrated circuit wafers [7] - Revenue projections for 2022 to 2024 are 322 million CNY, 368 million CNY, and 548 million CNY, with net profits of 101 million CNY, 90 million CNY, and 97 million CNY respectively [7]

Group 1 - The core viewpoint of the article highlights the new stock offerings on October 28, including 德力佳 and 中诚咨询, with specific details on their issuance and financial metrics [1] Group 2 - 德力佳 is issuing a total of 40 million shares, with 9.6 million shares available for online subscription, at a price of 46.68 yuan per share and a price-to-earnings ratio of 34.98 times [1] - The company primarily engages in the research, development, production, and sales of high-speed heavy-duty precision gear transmission products, mainly serving the wind power generation sector [1] Group 3 - 中诚咨询 has a total issuance of 14 million shares, with 12.6 million shares available for online subscription, priced at 14.27 yuan per share and a price-to-earnings ratio of 9.69 times [1] - The company specializes in providing professional technical services such as engineering cost, bidding agency, engineering supervision and management, BIM services, and overall consulting services [1]

New IPOs and Listings - Two new stocks are available for subscription: Delijia (603092.SH) on the Shanghai Stock Exchange and Zhongcheng Consulting (920003.BJ) on the Beijing Stock Exchange [1] - Four stocks are listed today: Bibete (688759.SH), Xi'an Yicai (688783.SH), Heyuan Bio (688765.SH), and Taikaiying (920020.BJ) [1] Delijia (603092.SH) - Delijia specializes in the R&D, production, and sales of high-speed heavy-load precision gear transmission products, primarily for wind power generation [2][7] - The IPO price is 46.68 CNY per share, with an institutional offering price of 47.68 CNY, and a market capitalization of 16.8 billion CNY [5] - The company has a projected market share of 10.36% globally and 16.22% in China for wind power transmission equipment by 2024, ranking third globally and second in China [7] - Delijia's revenue from onshore wind power is expected to be 36.25 billion CNY in 2024, accounting for 98.57% of its total revenue [7] Zhongcheng Consulting (920003.BJ) - Zhongcheng Consulting focuses on engineering consulting services and has ranked among the top five in Jiangsu Province for engineering cost consulting revenue from 2021 to 2024 [8][11] - The IPO price is 14.27 CNY per share, with a market capitalization of 1.4 billion CNY [11] - The company plans to invest 1.23 billion CNY in building an engineering consulting service network and 0.77 billion CNY in R&D and information technology [11] Taikaiying (920020.BJ) - Taikaiying is the first company in the mining and construction tire segment to be listed on the Beijing Stock Exchange, recognized as the "first tire stock" on the exchange [15][19] - The IPO price is 7.50 CNY per share, with a market capitalization of 750 million CNY [18] - The company holds the number one market share in the domestic market for large-tonnage crane tires [19] Xi'an Yicai (688783.SH) - Xi'an Yicai is a leading manufacturer of 12-inch silicon wafers, ranking first in China and sixth globally in terms of production capacity [21][22] - The IPO price is 8.62 CNY per share, with a market capitalization of 34.81 billion CNY [21] - The company has a projected capacity of 120,000 wafers per month by 2026, which will meet 40% of the demand in mainland China [22] Heyuan Bio (688765.SH) - Heyuan Bio focuses on the research and development of plant-derived recombinant protein expression technology and has developed several pharmaceutical products [33][38] - The IPO price is 29.06 CNY per share, with a market capitalization of 10.39 billion CNY [35] - The company plans to invest 19.09 billion CNY in the construction of a plant for recombinant human serum albumin and 7.94 billion CNY in new drug development [37]

免责声明 投资有风险，入市需谨慎。本内容不构成任何投资建议。投 资者不应以该等信息取代其独立判断或仅根据该等信息做出 决策。申万宏源对这些信息的准确性或完整性不作保证，亦 不对因使用该等信息而引发或可能引游躲损豢秃拐չ-α葛磊 ● 星期一 10月 今日申 ... 今日中签缴 ... <> 股 丰倍生物 732334 团 国 24.49 发行/行业市盈率 30.47/64.73 申购上限 1.1万股 发行价(元) 今日无新债 ...

Group 1: New Stock Listings - Two new stocks were listed in the A-share market last week: Kema Polo and Chaoying Electronics, with Chaoying Electronics seeing a nearly 400% increase on its first day, yielding over 40,000 yuan in profit per subscription [1] - This week, three new stocks are available for subscription: Fengbei Biological, Delijia, and Zhongcheng Consulting, with subscription dates on Monday and Tuesday [1] Group 2: Fengbei Biological - Fengbei Biological is a leading domestic company in the comprehensive utilization of waste oil resources, focusing on the production of biofuels and biobased materials [2] - The company’s IPO price is set at 24.49 yuan per share, with a maximum subscription limit of 11,000 shares per account, requiring a market value of 110,000 yuan [1][2] - Projected revenues for 2022 to 2024 are 1.709 billion yuan, 1.728 billion yuan, and 1.949 billion yuan, with net profits of 133 million yuan, 130 million yuan, and 124 million yuan respectively [2] Group 3: Delijia - Delijia specializes in the research, production, and sales of high-speed heavy-duty precision gear transmission products, primarily for wind power generation [3] - The IPO price is set at a maximum subscription limit of 9,500 shares, requiring a market value of 95,000 yuan [3] - Projected revenues for 2022 to 2024 are 3.108 billion yuan, 4.442 billion yuan, and 3.715 billion yuan, with net profits of 540 million yuan, 634 million yuan, and 534 million yuan respectively [4] Group 4: Zhongcheng Consulting - Zhongcheng Consulting focuses on providing engineering consulting services, including cost estimation, bidding agency, project supervision, and management [5] - The IPO price is set at 14.27 yuan per share, with a maximum subscription limit of 630,000 shares [5] - Projected revenues for 2022 to 2024 are 303 million yuan, 368 million yuan, and 396 million yuan, with net profits of 64 million yuan, 81 million yuan, and 105 million yuan respectively [5][6]

Group 1: New IPOs - Three new stocks are scheduled for subscription this week (October 27 to 31), including two on the Shanghai Stock Exchange and one on the Beijing Stock Exchange [1] - The Shanghai Stock Exchange new stock Fengbei Biological has an issue price of 24.49 CNY per share and a price-to-earnings ratio of 30.47, compared to the industry average of 51.49 [2] - The other Shanghai Stock Exchange new stock Delijia has an issue price of 18.81 billion CNY and is a leader in high-load precision gear transmission products, with a global market share of 10.36% and a domestic market share of 16.22% [3] Group 2: Company Profiles - Fengbei Biological focuses on the comprehensive utilization of waste resources, particularly waste oil, and has developed a production chain from waste oil to biodiesel and bio-based materials [2][3] - Delijia specializes in the research, production, and sales of high-load precision gear transmission products, primarily for wind power applications, and has established deep cooperation with leading clients [3] - Hongban Technology, which is set to go public on October 31, specializes in the research, production, and sales of printed circuit boards, targeting high-end applications and holding a significant market position in consumer and automotive electronics [4] Group 3: Fundraising Goals - Fengbei Biological aims to raise 879 million CNY for projects including the production of 30,000 tons of oleic acid methyl ester and 5,000 tons of biodiesel [3] - Delijia plans to raise 1.881 billion CNY for projects including the production of large onshore and offshore wind turbine gearboxes [3] - Hongban Technology intends to raise 2.057 billion CNY for a project to produce 1.2 million square meters of high-precision circuit boards [4]

Core Insights - The average first-day increase for two new stocks last week was 263%, with Chaoying Electronics rising nearly 400% and a single subscription yielding approximately 34,000 yuan [1] - Three new stocks are scheduled for subscription this week, indicating ongoing market activity despite potential short-term fluctuations [3] Group 1: New Stock Offerings - Fengbei Biological, scheduled for subscription on October 27, is a leading company in the comprehensive utilization of waste oil resources, with significant partnerships in the biofuel sector [1][4] - Delijia, set for subscription on October 28, is a global leader in wind turbine main gearbox supply, with a projected global market share of 10.36% in 2024, ranking third globally [2][5] Group 2: Financial Projections - Fengbei Biological expects a net profit of 106 million to 116 million yuan for the first three quarters of 2025, representing a year-on-year growth of 22.29% to 33.82% [4][5] - Delijia anticipates a net profit of 582 million to 635 million yuan for the first three quarters of 2025, with a year-on-year increase of 52.37% to 66.27% [7][5] - Zhongcheng Consulting projects a net profit of 70 million to 72 million yuan for the first three quarters of 2025, with a slight decline compared to the previous year [8]