Good Medical + Harbin Railway Technology IPO Analysis-clevelanddrifters.com

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Good Medical + Harbin Railway Technology IPO Analysis

time：2023-03-24 02:27:41 source：clevelanddrifters.com author：Education stock

Good Medical + Harbin Railway Technology IPO Analysis

1. Good Medical focuses on the design, development, manufacture and sales of precision components and products for medical devices. The development, manufacture and sales of household ventilators and cochlear implant components are the company's current core business; at the same time, the company also focuses on the research and development, manufacture and sales of independent medical device products and health protection products; the company is also a medical device registrant system. Entrusted manufacturing companies and contract manufacturers, providing entrusted manufacturing services for medical device products to global medical device customers. The company started subscription on September 26, the issue price was 30.66 yuan per share, the market value before the issue was 11.11 billion, and the issue price-earnings ratio was 41.18 times, which was 35.12 times higher than the industry price-earnings ratio. It belongs to the Growth Enterprise Market and the sponsor is Dongxing Securities. From 2019 to 2021, the company's revenue was 742.4 million, 887.9 million, and 1.137 billion respectively. The revenue in 2021 increased by 28.1% year-on-year; the net profit was 232.5 million, 258 million, and 310.1 million respectively, and the net profit in 2021 was year-on-year. An increase of 20.21%. The company expects that in the third quarter of 2022, revenue will increase by 17.68%~34.66% year-on-year, net profit will increase by 14.53%~31.49% year-on-year, and non-net profit will increase by 15.42%~31.47% year-on-year. Taking the 2021 annual report as an example, Laoyu is comparable in the same industry. A comparison was made in the company. Whether it is from a static price-earnings ratio or a dynamic price-earnings ratio, the company's valuation is a low subscription strategy: the company's operations are relatively stable, revenue and net profit have maintained annual growth, and the net profit in 2021. Profits increased by 20.21% year-on-year, and the company expects steady growth in the third quarter of 2022. The company's issuance price-earnings ratio is 41.18 times, which is higher than the industry's price-earnings ratio of 35.12 times. However, Lao Yu has made a comparison among comparable companies in the same industry. Whether in terms of static price-earnings ratio or dynamic price-earnings ratio, the company's valuation is on the low side. The company's plate is a bit large, with a total market value of 12.467 billion yuan. The issue price of 30.66 yuan is not very expensive. The recent IPO market is not very good. It is recommended to subscribe carefully. I plan to participate in the subscription! 2. Harbin Railway Technology Co., Ltd. is one of the enterprises with the most complete product system in the rail transit safety monitoring and inspection and intelligent operation and maintenance industry. The main products include rail transit safety monitoring and inspection products, railway professional information products and intelligent equipment products. More than 200 products have been formed through the technical review of scientific and technological achievements, and more than 60 new products have passed the technical review since 2018. The company started subscription on September 26, the issue price was 13.58 yuan per share, the market value before the issue was 4.889 billion, and the issue price-earnings ratio was 60.63 times, which was 44.69 times higher than the industry price-earnings ratio. It belongs to the Science and Technology Innovation Board, and the sponsor is Guotai Junan Securities. From 2019 to 2021, the company's revenue was 689.4 million, 801.5 million, and 878.1 million, and the revenue in 2021 increased by 8.77% year-on-year; net profit was 108.8 million, 108.2 million, and 117 million, respectively, and the net profit in 2021 was year-on-year. An increase of 8.85%. The company expects that from January to September 2022, the company can achieve operating income of 370 million to 430 million, an increase of 14.31% to 32.85% over the same period of the previous year; net profit is expected to be -40 million to -15.5 million, a year-on-year increase of 22.56% to 69.99%; Deducting non-net profit -24 million to 500,000, a year-on-year increase of 21.72% to 101.63%. The company has 5 state-owned shareholders, namely Harbin Bureau Group Company, Beijing Bureau Group Company, Chengdu Bureau Group Company, National Railway Information, and CRRC Capital, with a total shareholding ratio of 88.42%. This is a state-owned holding company. Taking the 2021 annual report as an example, Lao Yu made a comparison among comparable companies in the same industry. According to the dynamic price-earnings ratio calculated by the company's expected performance in the third quarter of 2022, the company's valuation is indeed high. Although the performance in the third quarter was a loss, it also increased year-on-year, indicating that the company's net profit mainly came from the last quarter. Subscription strategy: The company's operation is not very stable. In recent years, its performance has been high and low, but overall it is not much different. The net profit in 2021 will increase by 8.85% year-on-year, but the company expects that the performance in the third quarter of 2022 will still be a loss. However, it did increase year-on-year, indicating that the company's net profit mainly came from the last quarter. The company's issuance price-earnings ratio is 60.63 times, which is higher than the industry's price-earnings ratio of 44.69 times. Lao Yu has compared it among comparable companies in the same industry. Most of the companies in the same industry have relatively poor performance. From the perspective of dynamic price-earnings ratio, Harbin Railway Technology's valuation is also high. The company is medium-sized, with a total market value of 6.519 billion. The issue price of 13.58 yuan is very cheap. The company is controlled by state-owned assets. The total shareholding ratio of state-owned shareholders is 88.42%. The current market for new shares is not very good. Apply now! 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! 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