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Four, The First Day Of IPO Was Dull &Nbsp;

2010/6/26 18:09:00 28

New Daxin Timber The Great Wall Group

According to the announcement of the Shenzhen Stock Exchange,

New material

Sheng Yun, Jin Tong Ling,

The Great Wall group

When the four companies listed on the gem in June 25th, Sheng Yun shares rose 32.94% at the end of the day, Jin Tong Ling rose 16.13%, the Great Wall group rose 12.59%, and the new big new products that were postponed to the listing fell 3.25%, breaking the issue price.


  

New material

As soon as it was reported by real name, its main business and its production technology were suspected to infringe upon the patent right of lion dance in Henan and the unique name of its products. Therefore, it has been brought to court by the lion dance of Henan.

The report also said that the new Daxin material company concealed the major pollution problems in its production and operation in the prospectus.


Yesterday, the new big new material announcement said, Henan lion has withdrawn, the Commission approved the resumption of listing.


Founded in 1997, the new Daxin material is located in Kaifeng Fine Chemical Industrial Park. It is a high-tech enterprise specializing in R & D, production and sales of silicon wafers and semiconductor wire cutting blades.

At present, the company is the largest silicon wafer cutting edge manufacturer in China, with a market share of 27% in 2008 and a capacity of about 15000 tons in 2009.

The issue price is 43.40 yuan / share, corresponding to the P / E ratio of 68.89 times, and the issue amount is 35 million shares.


According to Anxin securities, EPS was 1.03, 1.40 and 1.75 yuan after the diluted 2010-2011 years.

The main products of the company are silicon wafer cutting blades for solar cells. As one of the upstream materials of solar cells, the prospect of the company is closely related to the development of polysilicon photovoltaic solar energy. Considering that its downstream industries are not growing enough at present, it is not recommended to give them too high valuations.

Referring to comparable company price earnings ratio, we gave it 45 times earnings in 2010, estimated that its first day of listing will be priced at around 46.80 yuan.

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