In the era of Ningde, drug Ming Kant IPO fundraising has shrunk significantly

On the evening of the 18th, the China Securities Regulatory Commission issued two IPO approvals with a total fundraising of no more than 6 billion yuan. Among them, the power battery unicorn Ningde era, which has been going on for more than a month, is among them. Since the company had previously raised $13.1 billion in the prospectus, it means that the company's IPO fundraising has shrunk by about 60%. Although the scale of fundraising has shrunk dramatically, the company's fundraising of more than 5 billion yuan has also hit a new high in the IPO of the GEM, after the GEM, the highest fundraising IPO of the GEM, raised 2.55 billion yuan. The reporter noted that the fundraising of the unicorn drug Mingkang in another pharmaceutical industry has also shrunk dramatically. WuXi PharmaTech had only raised 2.16 billion yuan of funds, which was significantly reduced by more than 60% from the 5.74 billion yuan disclosed in February this year. 

The planned investment projects were also reduced from 10 to 4, and the price-earnings ratio was 22 times. It did not exceed the red line of 23 times the price-earnings ratio of most new shares. In this regard, economist Song Qinghui told reporters that "from the perspective of the large scale reduction of the two unicorns, it shows that the regulatory level strictly controls the scale of fundraising for unicorn enterprises, which is intended to reduce the angle of the unicorn. The beast-listed bubble, while eliminating investors' concerns about the large amount of funds for the listing of unicorn companies." Information shows that the Ningde era (CATL) is the world's leading provider of power battery systems, the company was founded in 2011, in the past 6 In the year, the company has rapidly grown into a leading company in China's power battery. According to the prospectus, the company's sales of power batteries last year was 11.84GWh, ranking first in the world. The sales of Panasonic and BYD ranked second and third respectively were 10GWh and 7.2GWh, making it a well-deserved power battery giant. The company's top five customers last year, including Yutong Group, Pride New Energy, Geely Holding Group, Jinlong Automobile Group and Dongfeng Motor Group. 

As the Ningde era will be on the GEM, some institutions believe that the market value of the stock will exceed the current first GEM stocks of the GEM, and it is likely to become the first heavyweight in the future. According to the company's net profit of 3.97 billion yuan last year, if the price-earnings ratio of the stock after listing is 35 times, the market value will reach 139 billion yuan, surpassing Wen's shares. The data shows that Ningde era achieved operating income of 19.997 billion yuan last year, a year-on-year increase of 34%; net profit of 3.972 billion yuan, an increase of 31.4%. It is worth mentioning that although the company's revenue and net profit increased significantly last year, the overall gross profit margin has declined. According to the prospectus, the company's comprehensive gross profit margin was 38.64%, 43.70% and 36.29%, respectively, from 2015 to 2017. The reporter noted that with the acceleration of the IPO in the Ningde era, on the interactive platform, many companies indicated that they have a business relationship with the Ningde era. According to Crystal Optoelectronics, the joint venture venture company indirectly holds shares in Ningde Times. Haiyuan Machinery said that in addition to the battery box cover project in Ningde era, there are new projects in the negotiations. 

The New Territories pump industry said that the Zhuhai Guangfa Shunde Environmental Protection Industry Fund, which was established, has invested in projects such as the Ningde era. Snow Wright said that the Ningde era is a subsidiary of Zhuo and automation customers. Jiangsu Guotai said that Ningde Times is an important customer of Huarong Chemical, a subsidiary of the company. Tianci Materials said that the company currently has business dealings with the Ningde era and is one of the company's major customers. Tianqi Lithium said that the company has business dealings with the Ningde era. In addition, Zhongding Co., Ltd. announced on March 29 that the company has recently received a notice from the Ningde era to become a batch supplier of vibration-damping products for the new energy vehicle battery pack cooling system in the "75 Project" and "A26 Project" projects. According to Shen Wanhongyuan statistics, up to now, the A-share companies with higher share in the Ningde era supplier system include Qitailai, Xiamen Tungsten, Jiangsu Guotai, Tianci Materials, Xinzhoubang, Innovation Shares, Changyuan Group, New Lun Technology, Kodali, Pilot Intelligence, Nebula shares, etc. Zhongtai Securities said that the core supply system of Ningde era has been clear. The production capacity of 24GWh will be opened again, and the growth of the industry chain will be opened again. We are optimistic about Tianci Materials, Qitailai, Kodali, Pioneer Intelligence, Oriental Seiko and Shanshan.

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