<h1 class="pgc-h-arrow-right" data-track="1" > from the perspective of subscription priority, Yoshioka Precision > Zhonghuan shares</h1>
<h1 class="pgc-h-arrow-right" data-track="25" > 836260.NQ</h1>
1. Issue price: 13.45; historical transaction price: 11.36, issue price discount rate: 1.18
2. Pe: 16.41; INSTRUMENTATION MANUFACTURING INDUSTRY PE: 32.98, PE/INDUSTRY PE: 0.50
3. Benchmarking company: Changfu shares (PE-ttm: 19.40), PE discount rate of benchmarking company: 0.85
4. Fundamental data: ROE (18.36), gross profit margin (49.36), net profit margin (23.69)
5. Estimated number of freely tradable shares after listing: 1437.19 (accounting for 0.28%)
6. Company Profile: The company's main business is the design/development, production and sales of valve actuators, wellhead safety control systems and skid mounting equipment. The company focuses on valve actuators and wellhead safety control systems for more than ten years, and is a long-term supplier of customers such as PetroChina and Sinopec. In the first half of 2021, Zhonghuan Co., Ltd. achieved operating income of 62.2611 million yuan, down 6.36% year-on-year, net profit of 10.6882 million yuan, down 6.83% year-on-year, and its deducted non-net profit was 9.1426 million yuan, down 24% year-on-year.
7. Subscription star rating:**
8. Subscription suggestion: Zhonghuan shares have "dependence" on large customers. The company's downstream pipeline companies of PetroChina and Sinopec agreed to be assigned to the national official website company, and the concentration of downstream customers may lead to a further decline in the company's gross profit margin. From the valuation point of view, the valuation is not particularly cheap compared to the shares of the comparable company Changfu.
<h1 class="pgc-h-arrow-right" data-track="26" >2, 836720.NQ Yoshioka Precision</h1>
1. Issue price: 10.50; historical transaction price: 5.64, issue price discount rate: 1.86
2. Pe: 22.44; PE: 22.39, PE/industry PE: 1.00
3. Benchmarking company: Fengguang Precision (PE-ttm: 43.50), PE discount rate of benchmarking company: 0.52
4. Fundamental data: ROE (44.66), gross profit margin (29.63), net profit margin (16.71)
5. Estimated number of shares that can be freely tradable after listing: 2318.49 (accounting for 0.25)
6. Company Profile: Yoshioka Precision is a precision casting manufacturer dedicated to aluminum and zinc alloys. Deeply ploughing the field of precision casting, downstream products cover power tools, automobiles, cleaning small household appliances and other fields. Overall, in the first half of 2021, the company's operating income was 170 million yuan, an increase of 64.47% year-on-year, and the net profit attributable to the mother was 28.7297 million yuan, an increase of 86.21% year-on-year. From the perspective of segmented business, the company's electronic and electrical products in the first half of 2021 generated revenue of 94.8679 million yuan, an increase of 70.21% year-on-year, accounting for more than 50% of the company's total revenue. The company's auto parts business 2021H1 revenue was 58.8601 million yuan, an increase of 68.19% year-on-year.
7. Subscription star rating:***
8. Subscription suggestion: The company has good fundamentals, and compared with comparable companies with similar net profits, the price-to-earnings ratio of issuance is low and very cheap.
The above analysis is for informational purposes only and does not represent any investment advice. Readers participating in the IPO subscription of the select layer should carefully assess their own risk tolerance. The author does not assume any responsibility for the losses caused by the reader's participation in the IPO subscription of the select layer, and for professional advice, it is recommended to consult the account manager of the broker where he works.
![Yoshioka Precision Special Report: Focusing on the "Little Giant" of Precision Casting such as Power Tools and Automobiles 1. Company Profile: Focus on precision casting, three core businesses to create a solid moat 2. Financial performance: 2021H1 Attributable net profit increased by 86.21% year-on-year, and the expense ratio was controlled below 10% all year round3. Industry space: power tools + clean home appliances + electric vehicle combination punch, the market prospect is broad 4. Competitive advantage: based on technology to create high-quality products, and downstream leaders to carry out in-depth cooperation 5. Horizontal comparison: the company's profitability is better among comparable companies 6. Performance forecasts[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)