Ever since its listing, WuXi PharmaTech has maintained 14 consecutive daily limit, and the word limit has not yet been opened. The stock price has soared nearly three times as much as the issue price. After the purchase on May 24, investors are also very concerned about the profitability of the Industrial Fulian.
WuXi PharmaTech re-opened its daily limit today. This is the daily limit for 14 consecutive trading days. The stock price has broken through the hundred-dollar mark, with a market value of 111.9 billion yuan, and it has been tracking the market value of Yunnan Baiyao (120.8 billion).
As of the press release, the stock was quoted at 107.36 yuan, with a profit of up to 86,000 yuan each. It was the most profitable new stock this year.
And how much money can investors earn if they win Foxconn this time?
Foxconn Industrial Internet Corporation (referred to as 'Industrial Fulian') on May 23 made its first public offering of A-shares. At a price of 13.77 yuan/share, it will issue approximately 1.97 billion shares, and it is expected to raise capital of 27.12 billion yuan. The issuance price of industrial riches For the 13.77 yuan/share, the price-earnings ratio is only 17 times, and the 17-23 times issued valuation ratio of the valuation range of the P/E is given by the road show agency.
According to this IPO pricing, it is roughly equivalent to the valuation of well-known home appliance manufacturers such as Midea Group. The current manufacturing industry is still the current main industry of the industrial wealthy alliance; industry insiders believe that the price of industrial wealthy joints is not high, and will be reserved for the secondary market. Imagine the space, investors who need to lock for some time, need a certain margin of safety, which also reduces the impact of the short-term secondary market.
Ever since its listing, WuXi PharmaTech has maintained 14 consecutive daily limit, and the word limit has not yet been opened. The stock price has soared nearly three times as much as the issue price. After the purchase on May 24, investors are also very concerned about the profitability of the Industrial Fulian.
According to the prospectus, the issuance of new shares of the Industrial Fulian will be conducted through strategic placement of strategic investors, offline distribution and online issuance, of which 30%, 49% and 21% of the total number of initial issues will be issued respectively. One of the key points is the large-scale lock-up of new shares, of which the 50% lock-in period for strategic allotment shares is 12 months and the other 50% lock-in period is 18 months. Strategic investors can also voluntarily extend the lock-in period to 36 months; 70% of the shares issued under the net will also be locked for 1 year. Investors participating in the offline subscription must recognize this condition.
In this regard, Ping An Securities analyst Yan Lei said that given net offline placement shares accounted for 70% of strategic allocation shares, if not consider possible callbacks, of the 197 million shares, only 703 million shares are freely tradable, only It accounted for 35.7% of Xinfa shares, which is 3.57% of the total shares of Industrial Fulian. Prior to this, the fundraising scale of Wuxi Pharmaceutical's IPO shrank from planned RMB 5.74 billion to 2.13 billion; in contrast, Foxconn IPO did not reduce financing. Scale, but by reducing the 'bleeding effect' by introducing war games and locking in large areas.
The scale of financing of industrial riches is still ten times that of WuXi PharmaTech.
Although it is only priced at 17 times P/E, Industrial Fulian repeatedly emphasizes its own Internet factors. 'The company is the world's leading provider of communications network equipment, cloud service equipment, precision tools and industrial robots, providing customers with industrial Internet access. Platform-centric new form of intelligent manufacturing of electronic equipment products. '
'The company is committed to providing enterprises with integrated solutions for automation, networking, platformization, and big data-based technology services, leading the transition from traditional manufacturing to smart manufacturing; and building on this as a foundation for cloud computing, mobile terminals, and the Internet of Things. , Big Data, Artificial Intelligence, High-Speed Networks and Robots as Technology Platforms for 'Advanced Manufacturing + Industrial Internet' New Ecology.
The industrial wealth raising funds are mainly focused on the construction of industrial internet platforms, cloud computing and high-performance computing platforms, efficient computing data centers, communication networks and cloud service equipment, 5G and internet of things interconnection solutions, and intelligent manufacturing new technology research and development applications. Smart manufacturing industry upgrades, smart manufacturing capacity expansion and other eight major projects to invest, and additional working capital.
For Foxconn, how large is the upside in the initial period after listing?
In response, a fund manager in Shenzhen told the CBN reporter that the industrial wealth union’s plate is relatively large and the fundraising amount itself is actually relatively high. It should be unlikely that there will be a similar increase in the price of the drug, and it is unlikely that investors will expect this to happen. Too high; Certainly the money-making effect will definitely need to be there. Then there will be a lot of unicorn companies going public and the CDR regression.
Yan Lei believes that the Foxconn model will be more likely to become a typical model for the follow-up Unicorn IPO or CDR issuance, and the short-term impact of unicorn's listing financing will also be significantly reduced. However, this is obviously inconsistent with the general direction of full circulation. The lifting of the ban will continue to exert downward pressure on A shares to a certain extent. Therefore, in the medium and long term, improving the A-share investment function, introducing live water and improving the delisting mechanism and enumerating parties is the fundamental solution.
With the launch of 'Shanghai Luntong' and the listing of unicorns, the construction of the A-share system will be accelerated significantly, and the support for technology companies will also be significantly strengthened.