China and New Zealand shares are originally a very happy thing for investors, but for new investors in Zhongzi Technology, the situation is more bitter. The intraday decline widened to 15 per cent since the first day of trading. As of press time, the decline has narrowed and is now down more than 9%.
The issue price is 70.9 yuan per share.
According to the announcement of the exchange, Zhongzi Science and Technology is listed on the Shanghai Stock Exchange Science and Technology Innovation Board today, with the company's stock code 688737 and an offering price of 70.90 yuan per share, with a price-to-earnings ratio of 27.94 times.
Public data show that the company is a high-tech enterprise focusing on the research, development, production and sales of environmental protection catalysts. it is one of the few major domestic manufacturers in the field of tail gas treatment catalysts for mobile pollution sources (motor vehicles, non-road machinery, ships, etc.) in China, and actively explores the application of its technology in hydrogen fuel cell electrocatalysts and other new energy fields.
In terms of performance from January to September 2021, the estimated operating income is 860 million yuan to 950 million yuan, down 57.48% to 53.03% from the same period last year, and the net profit attributed to the shareholders of the parent company is expected to be 45 million yuan to 54 million yuan, down 75.33% to 70.40% from the same period last year. The net profit attributed to the shareholders of the parent company is expected to be 30 million yuan to 39 million yuan, down 84.63% to 80.02% from the same period last year.
As for the reasons for the decline, the prospectus mentioned that the company's sales of natural gas vehicle catalysts had not improved significantly as of the date of signing of this prospectus.
The "myth" of new shares is gradually shattered.
Recently, it has become more and more common for new shares to break in just a few days. Recently, there are Lisen Industries, ingenious home furnishings, Xinghua reflectors, and so on. Among the new shares listed in August, China Telecom Corporation and Shanshui Bede were broken.
As for the reasons for the rapid breaking of new shares, some industry insiders have pointed out that the poor performance of new shares on the market is mainly due to the following reasons: first, the reform of the registration system has abolished the red line of the average price-to-earnings ratio, resulting in the high price-to-earnings ratio of some new shares; second, now some new shares are all issued offline, resulting in greater pressure to lift the ban.