Reporter |
After a few months of "empty windows", the Shanghai and Shenzhen Listing Committees have made a move. Among them, the Shenzhen Listing Committee plans to hold a meeting on May 16 to consider the initial offering of IPO company Marco Polo, while the Shanghai Listing Committee intends to consider a convertible bond project on the same day. As for the Beijing Stock Exchange, there is no new review plan this week.
Marco Polo was the first to arrange a meeting for a few months
According to the announcement of the Listing Committee of the Shenzhen Stock Exchange on May 10, the Listing Committee is scheduled to review the initial offering of Marco Polo at the 9th review meeting in 2024 on May 16.
Flipping back, Marco Polo made a pre-disclosure on the website of the China Securities Regulatory Commission as early as May 19, 2022, sponsored by China Merchants Securities, the company moved on March 2, 2023, and finally came to the meeting after updating the financial information on May 10.
According to the draft on May 10, Marco Polo focuses on the research, production and marketing of architectural ceramics, and is one of the largest manufacturers and sellers of architectural ceramics in China, mainly owning two private brands of "Marco Polo tiles" and "beautiful L&D ceramics". In 2023, Marco Polo's operating income will be 8.925 billion yuan, slightly higher than 8.661 billion yuan in 2022, and the net profit will be 1.353 billion yuan, down from 1.514 billion yuan in 2022. Its dividend will be 500 million yuan in 2022 and 323 million yuan in 2023. Marco Polo's estimated financing amount is 3,157.93 million yuan.
The reappearance of the IPO company schedule may come as a surprise to the market, as the "window period" has been several months.
According to Jiemian News, since the week of February 19 to 23, the Shanghai, Shenzhen and Beijing Listing Committees have not had a new meeting arrangement, and there has been no new acceptance, and the "window period" has reached 12 weeks until the emergence of Marco Polo's meeting plan. During this period, after the promulgation of the new "National Nine Articles", the supervision also put forward higher requirements for IPO companies and intermediaries, such as the proportion of random inspections of IPO companies will be greatly increased.
The appearance of Marco Polo at this time is undoubtedly the first IPO company to "eat crabs" after the introduction of the new "National Nine Articles".
During the "window period", more than 90 companies in Shanghai, Shenzhen and Beijing were withdrawn
During the "window period", in addition to 0 new acceptances, every week companies choose to withdraw and withdraw from the queue.
According to Jiemian News, from February 19th to May 11th, a total of 18 companies wanted to break through the main board of the Shanghai Stock Exchange, 15 companies wanted to break through the main board of the Shenzhen Stock Exchange, 26 companies wanted to break through the Growth Enterprise Market, 13 companies wanted to break through the Science and Technology Innovation Board, and 22 companies that wanted to break into the Beijing Stock Exchange chose to withdraw, and the number exceeded 90.
For example, in the week of May 6 to 11, Kaibo Easy Control Vehicle Technology (Suzhou) Co., Ltd. withdrew its initial offering on the Science and Technology Innovation Board; Shenghui New Materials Co., Ltd. (hereinafter referred to as Shenghui New Materials) and Interpai Platinum Co., Ltd. (hereinafter referred to as Interpai) withdrew their initial offerings on the main board of the Shanghai Stock Exchange; Shenzhen Jingchuang Technology Electronics Co., Ltd. and Anhui Tangxing Equipment Technology Co., Ltd. withdrew their initial offerings on the GEM.
Many of these withdrawn companies have been criticized by the market.
For example, Shenghui New Materials is a new material manufacturing enterprise with multi-layer co-extrusion film technology as the core, specializing in the research and development, production and sales of functional film materials. From 2020 to 2022, the operating income of Shenghui New Materials will be 627 million yuan, 786 million yuan and 897 million yuan respectively, the net profit will be 59.4643 million yuan, 43.7355 million yuan and 108 million yuan respectively, and the non-net profit will be 53.4831 million yuan, 37.1446 million yuan and 102 million yuan respectively, and the cumulative non-net profit will be less than 200 million yuan. Shenghui New Materials selected the first set of listing standards. It should be pointed out that after the promulgation of the new "National Nine Articles", the Shanghai Stock Exchange has also raised the financial indicator threshold of the listing standards, "increasing the cumulative net profit index in the last three years in the first set of listing standards from 150 million yuan to 200 million yuan, the net profit index in the last year from 60 million yuan to 100 million yuan, the net cash flow index from cumulative operating activities in the last three years has increased from 100 million yuan to 200 million yuan, and the cumulative operating income index in the last three years has increased from 1 billion yuan to 1.5 billion yuan." ”
For example, Interpai, the company has continued to pay dividends from 2020 to 2022, with dividends of 293 million yuan, 35 million yuan, and 23.4 million yuan respectively. From 2020 to 2022, the net profit of Interpai will be 202 million yuan, 88.906 million yuan, and 104 million yuan respectively. The total amount of dividends in three years has exceeded 8% of the net profit in the past three years. Jiemian News noted that according to the latest guidelines of the Shanghai Stock Exchange on the supervision of pre-listing surprise "clearance" dividends, the cumulative dividend amount in the three years of the reporting period accounted for more than 80% of the net profit in the same period; or if the cumulative dividend amount in the reporting period exceeds 50% of the net profit in the same period and the cumulative dividend amount exceeds 300 million yuan, and the total proportion of replenishment and loan repayment in the raised funds is higher than 20%, it will not be allowed to be issued and listed.
New convertible bond projects will also be considered
In addition to the IPO company Marco Polo's meeting, the Shanghai Stock Exchange also decided to hold the 13th review meeting in 2024 on May 16 on May 10, but the review was the listed company Baolong Technology (603197. SZ).
It is reported that Baolong Technology is committed to the research and development, manufacturing and sales of automotive intelligent and lightweight products, the main products are automotive tire pressure monitoring system (TPMS), automotive sensors (pressure, light and rain, speed, position, acceleration and current are the main), ADAS (advanced driver assistance system), active air suspension, automotive metal pipe fittings (lightweight chassis and body structural parts, exhaust system pipe fittings and EGR pipe fittings), valves and balance weights.
According to the data, Baolong Technology's operating income in 2023 will be 5.897 billion yuan, a year-on-year increase of 23.44%, and its net profit will be 379 million yuan, a year-on-year increase of 76.92%; The operating income and net profit in the first quarter of 2024 will be 1.483 billion yuan and 68.0077 million yuan respectively, with year-on-year changes of 24.94% and -27.16% respectively.
Baolong Technology was listed on May 19, 2017, and the company maintained the "customary" of dividends after listing. In 2017, 10 distributions of 5 yuan were implemented, in 2018, 10 distributions of 4 shares were distributed to 5 yuan, in 2019, 10 distributions of 2.5 yuan, in 2020, 10 distributions of 3.2 yuan, in 2021, 10 distributions of 2 yuan, in 2023, 10 distributions of 3.1 yuan, and the dividend plan of the 2023 annual report is 10 distributions of 6.4 yuan.
Since the company went public, it has completed one private placement in 2021, and the actual net amount of funds raised is 902 million yuan.
This time, Baolong Technology plans to raise 1.432 billion yuan to invest in the "Air Suspension System Intelligent Manufacturing Expansion Project" (including 3 sub-projects: "Intelligent Manufacturing Project with an Annual Output of 4.82 Million Air Suspension System Components", "Intelligent Manufacturing Project of Air Spring Components", "Intelligent Manufacturing Project of Automotive Vibration Reduction System Accessories"), and "Replenishment of Working Capital". According to Baolong Technology, the company has invested 129.6639 million yuan in the "air spring intelligent manufacturing project".
According to Baolong Technology's forecast, the new production capacity will add 731 million yuan of operating income in 2024 and 3.545 billion yuan from 2028 to 2034.