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又现两只破发新股,打新不再无风险?
Now two new stocks are broken, so it is no longer risk-free to play new?

證券之星 ·  {{timeTz}}

  自上周中自科技首日即破发后,今日又有两只新股出现破发。创业板可孚医疗及科创板凯尔达今日上市,竞价双双低开破发。可孚医疗低开10.89%,凯尔达低开4.9%。不过,截止发稿,凯尔达已经翻红。

Since the break on the first day of technology in the middle of last week, two new stocks have broken today. Gem Kefu Medical and Science and Technology Innovation Board Kelda went public today, both of which opened at a low price. Kefu Medical opened 10.89% lower and Kelda 4.9% lower. However, as of press time, Kelda has become a hit.

  俩家公司基本资料

Basic information of the two companies

  可孚医疗公开资料显示,公司专业从事家用医疗器械的研发、生产、销售和服务,主要产品覆盖健康监测、康复辅具、呼吸支持、医疗护理、中医理疗等五大领域。

According to the public data of Kefu Medical, the company specializes in the research, development, production, sales and service of household medical devices, and its main products cover five major areas, such as health monitoring, rehabilitation aids, respiratory support, medical care, traditional Chinese medicine physiotherapy and so on.

  业绩方面,可孚医疗2021年1-9月归属于上市公司股东的净利润盈利为30,982.46万元,同比上年下降6.5%。

In terms of performance, the net profit attributed to shareholders of listed companies from January to September 2021 was 309.8246 million yuan, down 6.5 per cent from the previous year.

  主要原因系去年年初新冠疫情爆发后,去年1-9月销售产品以健康监测类、医疗护理类高毛利产品为主,疫情相关产品销售额占公司营业收入的比重达到44.78%,2021年国内新冠疫情得到很好地控制,公司业务基本回归正常,预计疫情商品占比较上年同期出现一定幅度下降,非疫情商品将保持快速稳定增长,销售毛利率逐渐回归正常。

The main reason is that after the outbreak of COVID-19 's epidemic at the beginning of last year, the products sold from January to September last year were mainly high-margin products such as health surveillance and medical care, and the sales of epidemic-related products accounted for 44.78% of the company's operating income. In 2021, the epidemic situation of COVID-19 in China has been well controlled, and the company's business has basically returned to normal. It is expected that the proportion of epidemic commodities will decline to a certain extent compared with the same period last year, non-epidemic commodities will maintain rapid and steady growth, and sales gross profit margin will gradually return to normal.

  凯尔达凯尔达招股书披露,公司是以工业机器人技术及工业焊接技术为技术支撑,为客户提供焊接机器人及工业焊接设备的高新技术企业。其中焊接机器人业务和工业焊接设备业务是公司的主营业务产品。

Kelda Kelda prospectus reveals that the company is a high-tech enterprise that provides welding robots and industrial welding equipment to customers with the technical support of industrial robot technology and industrial welding technology. Among them, welding robot business and industrial welding equipment business are the company's main business products.

  2018到2020年,凯尔达的营收呈现逐年递增的发展趋势,分别为3.98亿元、4.09亿元、5.94亿元。净利润分别为2940.54万元、2057.88万元、7404.93万元。

From 2018 to 2020, Kelda's revenue shows a trend of increasing year by year, which is 398 million yuan, 409 million yuan and 594 million yuan respectively. The net profit is 29.4054 million yuan, 20.5788 million yuan and 74.0493 million yuan respectively.

  破发越来越常见

Breakage is becoming more and more common.

  值得注意的是近来新股破发越来越常见。上周中自科技上市首日即破发。近来的则有丽臣实业,匠心家居、星华反光等都曾出现破发。8月上市新股中,则有中国电信、山水比德出现破发。

It is worth noting that IPOs have become more and more common recently. It was broken in the middle of last week since the first day of the technology listing. 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.

  至于新股快速破发越来越常见的原因,有业内人士分析指出,现在上市表现不好的新股,主要是以下原因,一是注册制改革取消了平均市盈率发行价这个红线,导致部分新股发行市盈率偏高;二是现在部分次新股全部都是网下发行,解禁压力较大。

As for the more and more common 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.

  而据证券时报报道,申万宏源首席市场专家桂浩明表示A股市场历史上新股首日破发并不多,科创板破发的也不多。近期市场人气不是很足,新股发行节奏较快,破发的偶然性比较大。

According to the Securities Times, Gui Haoming, chief market expert of Shen Wanhongyuan, said that not many new shares broke on the first day in the history of the A-share market, and few of Science and Technology Innovation Board broke. The recent market popularity is not enough, the pace of new share issuance is fast, and the chance of breaking is relatively large.

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