time：2023-03-24 00:26:05 source：clevelanddrifters.com author：Hot industry

Weifeng Electronics + Xinde New Materials IPO Analysis

1. Weifeng Electronics Co., Ltd. is committed to providing high-end precision connector products and solutions, specializing in the research and development, design, production and sales of industrial control connectors, automotive connectors and new energy connectors. The products can be widely used in industrial control and A series of application scenarios such as automation equipment, new energy vehicle "three power" systems, photovoltaic inverter systems, etc. Connector is an indispensable basic component in electronic equipment, which plays a key role in the quality and performance of electronic equipment. The company's main products have reached the same technical level as world-class manufacturers, providing high-end precision connector products and solutions for many well-known domestic and foreign companies. The company started to subscribe on August 26, the issue price was 78.8 yuan per share, the market value before the issue was 4.329 billion, and the issue price-earnings ratio was 60.38 times, which was 29.16 times higher than the industry price-earnings ratio. It belongs to the Growth Enterprise Market and the sponsor is Shenwan Hongyuan Securities. From 2019 to 2021, the company's revenue is 231.9 million, 273.4 million, and 408.6 million. In 2021, the revenue will increase by 49.41% year-on-year; the net profit will be 43.38 million, 61.09 million, and 100.3 million, respectively. An increase of 64.11%. The company expects that in the third quarter of 2022, revenue will increase by 23.75%~25.39% year-on-year, net profit will increase by 19.02%~20.31% year-on-year, and non-net profit will increase by 25.42%~26.79% year-on-year. Taking the 2021 annual report as an example, Lao Yu compared several companies in the same industry, and the average price-earnings ratio is 74.14 times, so it seems that the valuation of Weifeng Electronics is slightly lower. Subscription strategy: The company's operation is not bad, revenue and net profit have maintained steady growth every year, and the net profit in 2021 will increase by 64.11% year-on-year, and the company expects that the net profit in the third quarter of 2022 will also maintain a steady growth. The company's issuance price-earnings ratio is 60.38 times, although it looks significantly higher than the industry's price-earnings ratio of 29.16 times, but Lao Yu compared several companies in the same industry, and the valuation of Weifeng Electronics is relatively low. The company's market is medium, with a total market value of 5.773 billion, but the circulating market is not large, only 368 million, that is, the issue price of 78.8 yuan is indeed a bit high, and the market has been a bit poor recently, and new shares have begun to break. Plan to barely participate! 2. Xinde New Material Co., Ltd. is mainly engaged in the research and development, production and sales of negative electrode coating materials, and actively expands into the downstream pitch-based carbon fiber production field. It is an industry-leading supplier of new carbon-based materials. The negative electrode coating material produced by the company is a kind of asphalt material with special properties. On the one hand, it can be used as a coating agent and a binder for the production and processing of negative electrode materials for lithium batteries to improve the product performance of negative electrode materials; The carbon fiber spinnable pitch is made by a proprietary process. After spinning, carbonization and other production processes, pitch-based carbon fiber products are obtained. In the process of producing negative electrode coating materials, the company produces rubber plasticizers as a by-product. The company started subscription on August 26, the issue price was 138.88 yuan per share, the market value before the issue was 7.083 billion, and the issue price-earnings ratio was 78.39 times, which was 19.34 times higher than the industry price-earnings ratio. It belongs to the Growth Enterprise Market and the sponsor is CITIC Securities. From 2019 to 2021, the company's revenue is 230.3 million, 272 million, and 492 million respectively. The revenue in 2021 will increase by 80.88% year-on-year; the net profit will be 72.5 million, 86.24 million, and 137.7 million, respectively. An increase of 59.64%. The company expects that in the third quarter of 2022, revenue will increase by 99.12%~105.06% year-on-year, net profit will increase by 9.22%~18.33% year-on-year, and non-net profit will increase by 23.26%~33.62% year-on-year. Taking the 2021 annual report as an example, Lao Yu compared several companies in the same industry, and the average price-earnings ratio is 70.11 times, so it seems that the valuation of Xinde New Materials is slightly higher. Subscription strategy: The company is operating well, revenue and net profit have maintained growth every year, and the net profit in 2021 will increase by 59.64% year-on-year, and the company expects that the net profit in the third quarter of 2022 will also maintain steady growth. The company's issuance price-earnings ratio is 78.39 times, which is significantly higher than the industry's price-earnings ratio of 19.34 times. Lao Yu compared several companies in the same industry, and the valuation of Xinde New Materials is relatively high. The company's stock is not small, with a total market value of 9.444 billion yuan, and the issue price of 138.88 yuan is indeed too high. Recently, the market has been a bit poor, and new shares have begun to break. It is recommended to subscribe carefully. I plan to give up the subscription! Subscription level of new shares: Purchase with confidence > Purchase cautiously > Give up subscription My remarks represent only personal opinions and do not constitute any investment basis. The stock market is risky, and you need to be cautious when entering the market! Follow me: Xiaosan Laoyu# Caijing# #Playing new shares# #stock# #IPO#

(Responsible editor：Trend)

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