On May 10, Wanda Bearing's listing application on the Beijing Stock Exchange was approved by the China Securities Regulatory Commission for registration. At the same time, a number of NEEQ companies have recently officially announced their sprint to the Beijing Stock Exchange, including Zhonghuanjie, Gradidis, A.D. Shares, Penglai Marine, Marg Home, Dongshi Environment, etc.
According to the data from the National Equities Exchange and Quotations, the Beijing Stock Exchange has played a significant role in leverage, and the preparatory enterprises have shown a good growth momentum. Among the 564 listed companies that are preparing to be listed on the Beijing Stock Exchange, about four have become national-level specialized and new "little giant" enterprises, and 22.34% belong to strategic emerging industries such as biological industry and high-end equipment manufacturing industry. In 2023, the operating quality of the preparatory enterprises will be improved again, and the overall situation will be in a stage of rapid growth, with operating income and net profit maintaining a high compound growth rate of 9.34% and 14.77% in the past three years.
A number of companies are preparing to be listed on the Beijing Stock Exchange
Since the beginning of this year, IPOs in the A-share market have been in a state of contraction, but they are still advancing. Wanda Bearing announced on May 10 that its listing application on the Beijing Stock Exchange has been registered by the China Securities Regulatory Commission, and a number of new third board companies have recently officially announced that they will sprint to the Beijing Stock Exchange.
Zhonghuanjie announced on May 10 that it intends to apply for a public offering of shares to unspecified qualified investors and listing on the Beijing Stock Exchange. The company intends to issue no less than 1 million shares to unspecified qualified investors, and no more than 143,392,590 shares (including the principal number without considering the over-allotment option). The funds raised by the company in this issuance (after deducting the issuance costs) are planned to be invested in the following projects: urban and rural environmental service equipment configuration and renewal projects, digital empowerment and upgrading projects, and supplementary liquidity projects.
After years of experience accumulation, the company has built a smart platform system for urban comprehensive management services, realized the whole system of operation and management, and continued to invest in intelligence, equipment and leanness, to provide customers with high-quality services, and has won the top ten influential enterprises in China's sanitation industry for six consecutive years. It is a leading enterprise in urban and rural environment and public services.
Gradidis also announced a few days ago that the company intends to apply for a public offering of shares and be listed on the Beijing Stock Exchange, and intends to issue no more than 18,246,667 shares to unspecified qualified investors (excluding over-allotment options). The net proceeds from the actual public offering of shares after deducting the corresponding issuance expenses will be used for the following items: high-complexity well fine pressure control and special drilling equipment capacity expansion projects, a new generation of drilling and workover digital intelligence platform and drilling and workover equipment and new materials research and development projects, and supplementary working capital.
Gridis is a high-tech enterprise focusing on the safe and efficient development of drilling and completion, production, technical services and product sales, mainly providing professional technical services and product sales for oilfield enterprises and oil and gas exploration and development enterprises, including pressure-controlled drilling technology services and equipment sales, plugging technology services and materials sales, drilling monitoring technology services and special downhole tools sales and services.
Penglai Ocean recently announced that on May 6, the Shandong Securities Regulatory Bureau accepted the application materials submitted by the company for the public offering of shares by unspecified qualified investors and listing on the Beijing Stock Exchange, and the company officially entered the counseling period. Penglai Marine's business is based on the food nutrition fortifier industry, and at the same time carries out the research and development, production and sales of vitamin B series pharmaceutical intermediates and health food main agents. For more than 20 years, the company has always focused on the research and development, production and sales of food additives such as mineral salts. The main products include calcium, magnesium, zinc and other series, which are widely used in health food and other fields.
Marge Home has signed a counseling agreement with Guotai Junan for listing on the Beijing Stock Exchange, and officially entered the counseling period on April 29. Marg Home Furnishing is a modern enterprise specializing in the research and development, design, production, sales and service of whole-house customized home furnishing products, focusing on the personalized customization needs of high-end users, and providing customers with one-stop whole-house customized home furnishing solutions including customized wardrobes, indoor wooden doors, integral kitchen cabinets and other products through information technology.
The listed company AD shares recently said that its holding subsidiary AD Xinneng is actively promoting the listing process of the Beijing Stock Exchange and is currently in the inquiry and feedback stage. In 2023, the solar energy business of ADA New Energy achieved revenue of 949 million yuan, a decrease of 4.68% from the same period last year. The main business of AD New Energy covers two sectors: solar photovoltaic modules and solar lamps, and its products are mainly exported, with domestic sales accounting for about 10% and export sales accounting for as much as 90%. However, since last year, AD Xinneng has been actively expanding in the domestic market.
Brokers recommend actively seizing the opportunity to subscribe for new shares
According to the statistics of the National Equities Exchange and Quotations, with the gradual release of the market reform effect of the Beijing Stock Exchange, the listing popularity of the new third board market continues to rise, and a total of 326 companies will be newly listed in 2023, an increase of two percent year-on-year. The overall quality of newly listed companies continues to improve, and the average operating income and net profit in 2023 will increase by 16.33% and 39.84% respectively compared with the newly listed companies in 2022; 21 companies made a profit of more than 100 million yuan, and their performance was outstanding. The newly listed companies have a clear goal of upward development, 23 companies choose to be listed and enter the innovation layer at the same time, 79 companies have entered the innovation layer through hierarchical adjustment after listing, and 133 have entered the guidance period for listing on the Beijing Stock Exchange.
It is worth mentioning that the overall quality of these preparatory enterprises has improved, and the market ecology is positive.
At present, the Beijing Stock Exchange's "specialized, special and new" agglomeration effect is obvious, and more than half of the companies have been selected into the list of national-level specialized, special and new "little giant" enterprises. Guosen Research proposes to actively attract specialized, special and new enterprises to be listed on the Beijing Stock Exchange, and it is proposed to provide a set of listing standards for national and provincial specialized and special new "little giant" enterprises to be directly listed on the Beijing Stock Exchange, so as to attract more high-quality enterprises to be listed on the Beijing Stock Exchange. After the development of the Beijing Stock Exchange matures, it will further cancel the listing condition of "innovative listed companies listed on the national stock transfer system for 12 consecutive months".
On the other hand, Beijing intends to promote the priority listing of core AI enterprises on the Beijing Stock Exchange. At the 2024 Zhongguancun Forum at the end of April, Lin Jianhua, deputy director of the Beijing Municipal Development and Reform Commission, said that it is necessary to optimize the investment and financing environment for the development of the artificial intelligence industry, increase direct investment in high-growth enterprises with key core technologies, establish an artificial intelligence investment alliance mechanism, cooperate with social capital and national funds to provide continuous protection, invest more than 100 billion yuan within 5 years, and actively promote the priority listing of artificial intelligence core enterprises on the Beijing Stock Exchange.
Shenwan Hongyuan Research said that in terms of new share issuance, the listing threshold of the Beijing Stock Exchange has not changed but the review requirements have been raised, emphasizing that the reporting company needs to comply with the market positioning of the Beijing Stock Exchange, and further consolidate the verification and gatekeeping responsibilities of intermediaries, which will improve the quality of listed companies from the source. During the run-in period of the new regulations, it is expected that the withdrawal rate will increase, the review cycle will be lengthened, and the scarcity of new shares will increase.
Guolian Securities also believes that since the release of the "19 Articles of Deep Reform" and the slowdown in the progress of IPOs, the market of new shares on the Beijing Stock Exchange has continued to rise, and from January to April 2024, the average increase in the first day of new shares has reached 103%, driving the continuous increase in new income. With the gradual implementation of the follow-up IPO rules and policies, the issuance of new shares has returned to normal, and the income from the IPO can be expected.
Guolian Securities also reminded to pay attention to the opportunity of war matching. It believes that, unlike the market value requirements for new stock subscription, the Beijing Stock Exchange has no restrictions on the bottom position requirement, and for investors whose account size is lower than the upper limit of online subscription, it is more efficient to participate in the use of new funds; For institutional investors, the introduction rate of strategic placement on the Beijing Stock Exchange reached 93.2%, and the allocation rate of strategic placement on the Beijing Stock Exchange was much higher than that of entrepreneurship and entrepreneurship.
Editor-in-charge: Liang Qiuyan
Proofreading: Peng Qihua