Many stocks have bright spots, which are sought after by the capital market. Among them, there are leading domestic chip companies and SMIC international, which has set the fastest audit speed of science and technology innovation board; the first Cambrian of AI chip has always been the focus of market attention; and Bertrand, the leader of lithium battery anode materials, has also attracted market attention.
SMIC international starts new business on Tuesday
The first a + H red chip technology innovation board enterprise, the leader of domestic chips, the largest IPO in the history of science and Technology Innovation Board With a variety of halos, SMIC international is about to usher in online offline subscription.
On the evening of July 5, SMIC international issued the announcement of IPO and listing on the science and technology innovation board. The issuing price of the company was determined to be 27.46 yuan / share, and the online and offline subscription would be conducted on July 7.
Since the news of SMICs dash for a shares was exposed, its Hong Kong stock price continued to rise. From the beginning of May to July 3, SMIC Hong Kong stock rose from 14.3 yuan / share to 33.25 Hong Kong dollar / share, with an overall increase of 124.36%. Compared with Fridays closing price, SMICs A-share offering price is about 9.4%.
SMIC said that if the issuance is successful, the total amount of funds raised by the issuer is expected to be 46.287 billion yuan before the exercise of the over allotment option. After deducting the issuance expenses of 634 million yuan (including tax), the net amount of funds raised is expected to be 45.652 billion yuan; if the over allotment option is fully exercised, the total amount of funds raised by the issuer is expected to be 53.230 billion yuan In addition to the issue expenses of 726 million yuan (including tax), the net amount of raised funds is expected to be 52.503 billion yuan.
This fund-raising amount not only exceeds the 10 billion fund-raising scale of China Communications, the giant of the science and technology innovation board, but also exceeds the more than 30 billion raised by Beijing Shanghai high-speed railway, setting the highest fund-raising scale in the A-share market in the past decade.
SMIC International said that the IPO price of 27.46 yuan / share corresponding to the net assets of the issuers parent in 2019 without exercising the over allotment option will have a P / B ratio of 2.20 times. Assuming that the over allotment option is fully exercised, the post IPO P / B ratio is 2.11 times, which is lower than that of comparable companies TSMC, Lianhua electronics, Huahong semiconductor, gaota semiconductor and China Resources micro Average p / E ratio: when the issuer does not exercise the over allotment option after deducting the non pre owned net profit at the end of 2019, the post IPO P / E ratio is 109.25 times. Assuming that the over allotment option is fully exercised, the post IPO P / E ratio is 113.12 times, which is higher than that of comparable companies TSMC, Lianhua electronics, Huahong semiconductor, gaota semiconductor and China Resources micro.
It is reported that the public offering shares are all new shares, and 1.686 billion shares are to be issued publicly, accounting for 23.62% of the total share capital after the issuance (before the exercise of the over allotment option). The issuer grants Haitong Securities an over allotment option of 15% of the initial issuance scale. If the over allotment option is fully exercised, the total number of shares to be issued will be increased to 1.938 billion shares, accounting for 26.23% of the total share capital after the issuance.
SMIC Internationals offering adopts the combination of targeted placement to strategic investors, inquiry placement to qualified offline investors and pricing issuance to online social public investors who hold the market value of non restricted a shares and non restricted depository receipts in Shanghai market. The initial strategic placement shares of this issue are 843 million shares, accounting for 50% of the initial number of shares, accounting for 43.48% of the total number of shares issued after the full exercise of the over allotment option. Because the final strategic placement quantity is the same as the initial strategic placement quantity, it has not been transferred back to the network.
According to the strategic placement results of sci tech Innovation Board issued by SMIC, the allocation amount of phase II of national integrated circuit industry investment fund is more than 3.5 billion yuan, that of gicprivate Limited is 3.316 billion yuan, and that of China information and Communication Technology Group Co., Ltd. is 1.99 billion yuan. In addition, Qingdao Juyuan Xinxing equity investment partnership, a special equity investment fund initiated by SMIC Juyuan equity investment management (Shanghai) Co., Ltd., was allocated 2.224 billion yuan, with the participation of several SMIC international upstream and downstream enterprises, such as SMIC Juyuan, LanChi technology, Zhongwei company and Anji technology.
The joint sponsor Haitong Securities and the alternative subsidiaries of CICC, Haitong venture capital and CICC wealth, are expected to invest 2% of the shares issued this time, that is, 33.7124 million shares, with a distribution amount of 1 billion yuan.
The application date of SMIC A shares is set on Tuesday. The upper limit of online Dingges subscription is up to 421000 shares, and Dingge needs to allocate a market value of 4.21 million yuan. According to the estimation of the winning lot rate of several new shares with the upper limit of subscription within the year, the winning lot rate of SMIC international online is expected to exceed 0.4%. Based on this calculation, Dingges subscription is expected to win three lots.
There are six underwriters in this offering. In addition to Haitong Securities and CICC, Guotai Junan, CITIC construction investment securities, Guokai securities and Morgan Stanley Huaxin securities are the joint lead underwriters.
According to relevant data, by the end of 2019, SMICs production line expansion project in Shanghai, Beijing and other places is planned to exceed 190 billion yuan. At present, the comprehensive completion progress is about 60%, and the follow-up investment is more than 70 billion yuan.
The first Cambrian chip in China will be renewed on Wednesday
In addition to SMIC, there is also a well-known chip stock landing on the scientific and technological innovation board, Cambrian. According to the letter of intent disclosed recently by Cambrian, it is expected to issue shares on July 8 (this Wednesday), with 40.1 million shares to be publicly issued, accounting for 10.02% of the total share capital after the issuance. So far, Kechuang board quickly ushered in the first domestic AI chip.
According to the prospectus, Cambrian plans to issue no more than 40.1 million shares and raise RMB 2.801 billion, which will be used for the new generation cloud training chip and system project, the new generation cloud reasoning chip and system project, the new generation edge end artificial intelligence chip and system project, and replenish the working capital.
Since its establishment, Cambrian has been focusing on the R & D and technological innovation of artificial intelligence chip products, and is committed to building core processor chips in the field of artificial intelligence, so that machines can better understand and serve human beings. The companys core personnel have been working in the field of processor chip and artificial intelligence for more than ten years, and led the company to develop a series of independent innovation key technologies such as instruction set and micro architecture of intelligent processor.
Cambrian said that compared with NVIDIA and Huawei Hisilicon, the company has certain characteristics and advantages in core technologies such as artificial intelligence chip microarchitecture and instruction set. For example, compared with the GPU and CPU products of foreign giants such as NVIDIA, the Cambrian chip architecture is optimized for artificial intelligence applications and various algorithms; compared with Huawei Hisilicon, Cambrian has the first mover advantage and is located in an independent and neutral chip company, attracting more customers through neutrality.
Super hit new week -- 19 shares issued in succession
Including two well-known chip stocks of SMIC international and Cambrian, 19 new shares were applied for in the market this week, including 9 new third board shares, 7 science and technology innovation board new shares, 2 Gem shares and 1 main board stock. It is not only large in number, but also widely distributed in the industry.
Lets look at the main board, the gem and the science and technology innovation board
Tongqinglou (main board): tongqinglou brand was founded at the beginning of the 20th century. After nearly a century of development, it is a time-honored brand in China and has a high popularity and influence in the catering industry.
Funeng Technology (Science and technology innovation board): the provider of overall technical solutions for new energy vehicle power battery system, as well as the manufacturer of high-performance power battery system. Since its establishment, Funeng technology has been focusing on the R & D, production and sales of lithium-ion power battery and vehicle battery system for new energy vehicles, and provides overall power battery solutions for new energy vehicle enterprises. At present, it has become one of the worlds leading enterprises of ternary soft pack power batteries.
Shanda Diwei (Science and technology innovation board): it is a leading software solution provider and service provider in the fields of smart government, smart medical insurance, smart power consumption, etc. It mainly provides a package of solutions such as industry emerging application software development, technical services and system integration for government departments, medical institutions, state grid and subordinate enterprises. Relying on the three-level scientific and technological innovation R & D system, the company provides six overall solutions, including smart human society, integrated government service platform, smart medical insurance, smart medical payment and settlement, intelligent electricity information collection and business platform, and smart power big data service.
Meirui new materials (GEM): as a professional polymer elastomer new material manufacturer, it focuses on the R & D, production and sales of thermoplastic polyurethane elastomer (TPU). As a polymer synthetic material, TPU is a downstream product of petrochemical industry. As a new environmental protection material with the advantages of high elasticity of rubber and easy processing of plastics, TPU is an ideal substitute for traditional materials such as PVC, rubber, EVA and silica gel, and has a wide application prospect.
Weisi medical (Science and technology innovation board): mainly engaged in the research and development, production and sales of rehabilitation medical devices and products. In the process of business development, the company focuses on product R & D and design, mainly responsible for product core technology research, software development, hardware overall scheme design and system component design, and mainly sells products to terminal customers through distributors to achieve revenue and profit. The company has been firmly and continuously investing in R & D and technological innovation. At present, it has developed different types of rehabilitation medical devices and products such as electrical stimulation, magnetic stimulation, electrophysiology, etc., and formed a comprehensive rehabilitation product and overall solution.
In addition, on July 1, the first batch of enterprises in the selected layer of the new third board officially launched the new business, which was warmly sought after by investors. The hot situation of the first batch of selected layers shows that after comprehensively deepening the reform of the new third board, enterprises listed on the new third board have gained more market attention, and their attractiveness to investors has been significantly enhanced.
Recently, A-share is booming, and the number of accounts opened by many securities companies has soared. Securities companies in China learned from the person in charge of the business department of a large-scale securities firm that the response of natural persons in the bull market is relatively slow. In recent years, the increase in the number of ordinary accounts opened is not obvious, but the increase in the number of accounts opened on the new third board is considerable.
This week, nine new three board stocks are open for subscription. Experts suggest that we should adhere to the concept of value investment and make reasonable investment decisions to participate in the public offering of shares on the new third board. At the same time, we should pay attention to the follow-up issuance arrangement, make a reasonable distribution of its own funds among individual stocks, and avoid clustering and centralized subscription.
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