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Source: WeChat public account "Daoda number" (WeChat public number ID: daoda1997)
The new three boards hit a new craze. On October 8, there will be 5 companies in Jinhao Medical, Guangzhi International, Henghe Shares, Haixi Communications and Guangmai Technology to implement online subscription, so how much "oil and water" is there in this round of subscription?
According to the new stock listing data, among the new stocks that have been listed this year, the vast majority of individual stocks have a price-to-earnings ratio of less than 20 times, especially Changhong Energy, Derui Lithium Battery and Tongyi Aerospace have brought obvious new dividends. Among them, Changhong Energy rose 37.5% on the first day of listing, earning 847 yuan per 100 shares; Derui Lithium Battery rose 44.78% on the first day, earning 433 yuan per 100 shares; Tongyi Aerospace rose 47.5% on the first day, earning 404 yuan per 100 shares. Coupled with the favorable blessing of the Beijing Stock Exchange since then, if the new shares in hand are held for a longer period of time, their yields are relatively higher.
For this round of new investors, due to the original investor participation threshold of the selection layer, the number of new competitors has not increased much, and this round of new stocks is the first batch of new stocks after the announcement of the launch of the Beijing Stock Exchange, and the probability of being sought after the listing will be sought after by new funds, so this round of new varieties will become the best in the boutique. How to rationalize the new will be the most concerned topic for investors. So what is the quality of this batch of new stocks? Which new strategy works best? Each research institute researcher will interpret it for you one by one.
Five IPOs Three Indicators PK Who is the best target?
(Data source: company announcement, flush, China Securities release, P/E ratio as of September 30, the industry P/E ratio is static)
1. Jinhao Medical
The main business of Jinhao Medical is hearing aids, nebulizers, anti-pressure ulcer cushions and others. Among them, hearing aids are the main income-generating business, from 2016 to 2020, the company's hearing aids operating income increased from 0.20 billion yuan to 155 million yuan year by year, with an annual compound growth rate of 66.85%. In terms of profitability, Jinhao Medical's net profit margin on sales was 10.61% and gross profit margin on sales was 36.47%, both of which were overall higher than comparable companies in the same industry. In the first half of 2021, the company's revenue growth rate was 23.37%, net profit attributable to the company fell by 38.85% year-on-year, and non-net profit decreased by 42.53% year-on-year. Judging from the data reported in the middle, due to exchange rate fluctuations and rising raw material prices, the company's various indicators have declined.
Jinhao Medical is located in the industry of medical devices, the company issued a price-earnings ratio of 20.37 times, while the industry price-earnings ratio is currently about 42.44 times, the company's issue price is 16.8 yuan. After the issuance, the company's outstanding share capital is 10.33 million shares, and the total share capital is 46.97 million shares.
2. Broad Consulting International
Relying on two of its wholly-owned subsidiaries consulting companies and bidding companies to carry out consulting services for the whole process of engineering project construction, The industry competition in which It is located is fiercely competitive, and its main competitors include large central enterprises, local state-owned enterprises, private enterprises and multinational companies. The company's 2021 semi-annual report revenue growth rate was 17.20%, net profit attributable to the company increased by 16.20% year-on-year, and non-net profit growth rate was 17.51%.
In the professional consulting and investigation industry, the company's price-to-earnings ratio is 17.72 times, the industry's price-to-earnings ratio is 31.42 times, and the company's issue price is 14 yuan. After the issuance, the company's outstanding share capital is 5.37 million shares, and the total share capital is 75.62 million shares.
3. Henghe shares
Henghe Co., Ltd. is deeply involved in the petrochemical field, and has become a "one-stop" comprehensive service solution provider that provides soft and hardware integrated products and the construction of the online platform of Zhiwang. The overall scale of Henghe shares is small, but the gross profit margin and inventory turnover rate are higher than the average level of comparable companies, of which the gross profit margin in 2020 is 58.35%, and the ROE is higher than the industry average. The company's 2021 semi-annual report revenue fell by 40% year-on-year, net profit attributable to the company fell by 48.36% year-on-year, and non-net profit decreased by 46.56% year-on-year.
The company belongs to the environmental service industry, the company issued A/E ratio of 18.05 times, the industry P/E ratio of 25.11 times, the issue price of 8 yuan, after the issuance of the company's outstanding share capital of 16.15 million shares, the total share capital of 70.55 million shares.
4. Haixi Communications
The company is mainly engaged in the research and development, manufacturing, assembly, sales and service of industrial wireless control equipment. Industrial wireless control equipment is a subdivision of industrial electrical control industry, and its main downstream users are lifting and transportation machinery manufacturers, construction machinery manufacturers, special machinery and equipment manufacturers and end users of related equipment. The company's 2021 semi-annual report revenue growth rate was 21.58%, net profit attributable to the company increased by 15.34% year-on-year, and deduction of non-net profit growth rate was 15.42%.
The company belongs to the information technology industry, the company issued P/E ratio of 17.10 times, the industry P/E ratio of 48.97 times, the issue price of 21.88 yuan, after the issuance of the company's outstanding share capital of 14.2 million shares, the total share capital of 70.55 million shares.
5. Guangmai Technology
Broadmai Technology is a comprehensive solution provider dedicated to providing ICT services. Based on the information and communication industry, relying on core technologies, the company grasps the new trend of continuous integration of IT and CT industries, and provides advanced, safe and reliable information and communication technology service overall solutions for telecom operators, enterprises and other industry customers. The company's 2021 semi-annual report revenue growth rate was 17.77%, net profit attributable to the company increased by 14.35% year-on-year, and non-net profit growth rate was 16.56%.
The company belongs to the communication equipment industry, the company issued a price-earnings ratio of 16.14 times, the industry price-earnings ratio of 30.66 times, the issue price of 5.8 yuan, after the issuance of the company's circulating share capital of 12.18 million shares, the total share capital of 83 million shares.
(Note: The P/E ratio of the above five companies is the price-to-earnings ratio after issuance before the exercise of the over-allotment right)
With so many indicators, how can we judge whether a company is good or bad? Let's go one by one.
First, let's compare the ratio of the company's price-to-earnings ratio (the price-to-earnings ratio after issuance before exercising the over-allotment option) and the industry's average price-to-earnings ratio.
The smaller the ratio of the two, the cheaper the stock is compared to the average valuation of the industry, if the first day of listing can reach the average valuation of the industry, the greater the room for growth, and the rising potential in order of the indicator is Haixi Communications> Jinhao Medical > Guangmai Technology> Guangzhi International > Henghe Shares. (The industry P/E ratio data comes from Flush, and the data is a static P/E ratio)
Second, compare the relationship between the outstanding shares and the total share capital.
The smaller the market value of the first day of circulation, the more funds prefer to speculate. The smaller the market capitalization, the greater the increase. Then the ranking is Guangmai Technology> Guangzhi International > Henghe Shares> Jinhao Medical > Haixi Communications.
Third, compare the industry and fundamentals.
From the perspective of the industry, the medical devices where Jinhao Medical is located, due to the weak cyclicality, is undoubtedly the strongest track, and the rest of the industry cannot be quantitatively ranked.
From the perspective of profit growth, from the high to the bottom rankings are: Guangzhi International > Haixi Communications> Guangmai Technology > Jinhao Medical > Henghe Shares.
Judging from the above data analysis, the industry imagination of Guangzhi International, Guangmai Technology, and Henghe Shares is very limited, while Haixi Communications ranks first in an indicator, an indicator ranks second, and the industry attributes are good, which is undoubtedly the best among them, although Jinhao Medical occupies the best track among the five companies, its profit decline is obvious. Judging from the current market heat, Haixi Communications and Jinhao Medical are the first and second hot new stocks, and their eventual pursuit is also more likely.
(Price Tou Jun)
(The content of this article is for reference only, not as an investment basis, according to this market, at your own risk)
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