(I) Basic Company Information Full Name: Beijing Yunxingyu Transportation Technology Co., Ltd. Abbreviated Name: Yunxingyu Stock Code: 873806.BJ IPO Application Date: August 24, 2023 Listing Date: January 11, 2024 Listing Board: Beijing Stock Exchange Industry: Software and Information Technology Services IPO Sponsor: First Capital Securities Co.,Ltd. Sponsor Representatives: Liu Ning, Wu Zhenxiong IPO Underwriter: First Capital Securities Co.,Ltd. IPO Legal Counsel: Beijing Lifang Law Firm IPO Auditor: Grant Thornton Certified Public Accountants (Special General Partnership)
(II) Performance Evaluation (1) Information Disclosure: The company was required to clarify whether relevant classifications comply with "Interpretive Announcement No. 1 on Information Disclosure by Companies Issuing Securities Publicly - Non-recurring Gains and Losses"; was asked to explain item by item and supplement disclosure of specific matters regarding accounting error corrections and their impact on financial data; was required to explain whether there were significant differences or omissions between the previous IPO prospectus and other disclosure materials and the current public disclosure information.
(2) Regulatory Penalties: No deductions
(3) Public Opinion Supervision: No deductions
(4) Listing Cycle: No deductions The average listing cycle for A-share companies in 2024 was 629.45 days from application to listing. Yunxingyu's listing cycle was 140 days, below the overall average.
(5) Multiple Applications: Yes
(6) Issuance Fees and Fee Rate Yunxingyu's underwriting and sponsorship fees were RMB 28.5849 million, with an underwriting and sponsorship commission rate of 7.41%, lower than the overall average of 7.71%.
(7) First-Day Trading Performance The stock price rose 166.31% above the issue price on the first trading day.
(8) Three-Month Performance The stock price rose 90.06% above the issue price after three months of listing.
(9) Issue P/E Ratio Yunxingyu's issue P/E ratio was 22.11 times, compared to the industry average of 61.10 times, representing 36.19% of the industry average.
(10) Actual Fundraising Ratio Expected fundraising was RMB 411 million, actual fundraising was RMB 386 million, representing a 6.18% reduction in actual fundraising amount.
(11) Short-term Performance After Listing In 2024, the company's operating revenue increased 4.31% year-over-year, net profit attributable to shareholders increased 1.04% year-over-year, and non-recurring net profit attributable to shareholders increased 33.27% year-over-year.
(12) Subscription Abandonment Rate and Underwriting Ratio Not applicable.
(III) Overall Score Yunxingyu's IPO project received a total score of 86.5 points, classified as Grade B. Negative factors affecting Yunxingyu's rating include: information disclosure quality needs improvement, multiple applications, and reduced actual fundraising amount. This comprehensively indicates that while the company has relatively good short-term profitability, information disclosure quality needs improvement, and investors are advised to pay attention to the authenticity behind its performance.
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