Company Overview - Full Name: Jiangsu Wanda Special Bearings Co., Ltd [1] - Abbreviation: Wanda Bearings [1] - Stock Code: 920002.BJ [1] - IPO Application Date: November 6, 2023 [1] - Listing Date: May 30, 2024 [1] - Listing Board: Beijing Stock Exchange [1] - Industry: General Equipment Manufacturing [1] - IPO Sponsor: CITIC Jianhua Securities [1] - IPO Legal Advisor: Guohao Law Firm (Shanghai) [1] - IPO Audit Firm: Lixin Certified Public Accountants (Special General Partnership) [1] Disclosure and Evaluation - Disclosure Issues: The company was asked to verify specific statements in the prospectus and provide evidence for claims regarding product quality and market share [1] - Regulatory Penalties: No penalties were imposed [2] - Public Supervision: No deductions for public scrutiny [2] - Listing Cycle: The company's listing cycle is 206 days, significantly shorter than the average of 629.45 days for A-share companies in 2024 [2] Financial Metrics - Underwriting Fees: The underwriting and sponsorship fees amount to 11.687 million yuan, with a commission rate of 9.80%, higher than the average of 7.71% [3] - Initial Listing Performance: The stock price increased by 227.77% on the first day of trading [4] - Three-Month Performance: The stock price rose by 114.61% within three months post-listing [5] - Issuance Price-Earnings Ratio: The issuance P/E ratio is 14.33 times, which is 52.84% of the industry average of 27.12 times [6] - Actual Fundraising: Expected fundraising was 121 million yuan, while actual fundraising was 119 million yuan, indicating a decrease of 1.12% [7] Short-Term Performance - Revenue Growth: In 2024, the company's revenue increased by 0.64% year-on-year [8] - Net Profit Growth: The net profit attributable to shareholders grew by 16.30% year-on-year, while the net profit excluding non-recurring items increased by 16.40% year-on-year [8] Overall Assessment - Total Score: Wanda Bearings' IPO project received a total score of 90, classified as Grade A [9] - Negative Factors: Disclosure quality needs improvement, high issuance cost, and reduced actual fundraising amount are noted as negative factors [9]