(I) Basic Company Information Full Name: Hebei Keli Automobile Equipment Co.,Ltd. Abbreviated Name: Keli Equipment Stock Code: 301552.SZ IPO Application Date: May 26, 2022 Listing Date: July 22, 2024 Listing Board: Shenzhen ChiNext Industry: Automobile Manufacturing IPO Sponsor: Changjiang Securities Company Limited Sponsor Representatives: Yin Fuli, Kong Lingrui IPO Underwriter: Changjiang Securities Company Limited IPO Legal Counsel: Beijing Kangda Law Firm IPO Auditing Firm: Zhongshen Zhonghuan Certified Public Accountants (Special General Partnership)
(II) Professional Evaluation (1) Information Disclosure: Required to explain whether the issuer meets ChiNext positioning requirements; required to explain whether the basis for claiming the issuer's core technology reaches domestic leading levels is sufficient; required to supplement relevant content in the "Business and Technology" section of the prospectus; required to explain whether the issuer has other undisclosed penalties, litigation, or other violations.
(2) Regulatory Penalties: No deductions
(3) Public Supervision: No deductions
(4) Listing Cycle: Deductions applied The average days from application to listing for A-share companies listed in 2024 was 629.45 days. Keli Equipment's listing cycle was 788 days, higher than the overall average.
(5) Multiple Applications: Not applicable, no deductions.
(6) Issuance Costs and Fee Rates Keli Equipment's underwriting and sponsorship fees were 37.18 million yuan, with an underwriting and sponsorship commission rate of 7.29%, lower than the overall average of 7.71%.
(7) First-Day Trading Performance The stock price rose 130.67% above the issue price on the first trading day.
(8) Three-Month Performance The stock price rose 82.03% above the issue price after three months of listing.
(9) Issue P/E Ratio Keli Equipment's issue P/E ratio was 15.08 times, compared to the industry average of 20.24 times, representing 74.51% of the industry average.
(10) Actual Fundraising Ratio Expected fundraising was 392 million yuan, actual fundraising was 510 million yuan, with an over-subscription ratio of 30.01%.
(11) Short-term Performance After Listing In 2024, the company's operating revenue increased 25.41% year-over-year, net profit attributable to shareholders increased 9.59% year-over-year, and non-recurring net profit attributable to shareholders increased 7.69% year-over-year.
(12) Abandonment and Underwriting Ratios Abandonment rate: 0.24%
(III) Overall Scoring Keli Equipment's IPO project received a total score of 88.5 points, classified as Grade B. Negative factors affecting Keli Equipment's rating include: information disclosure quality needs improvement, listing cycle exceeded two years, and abandonment rate of 0.24%. This comprehensively indicates that while the company has good short-term profitability, information disclosure quality needs improvement, and investors are advised to pay attention to the authenticity behind its performance results.
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