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Weiwan Seal IPO Analysis

time:2023-01-28 17:17:40 source:clevelanddrifters.com author:Trend
Weiwan Seal IPO Analysis

The company is a high-tech enterprise specializing in the research and development, production and sales of hydraulic and pneumatic sealing products. The company's products are mainly used in hydraulic cylinder sealing systems for construction machinery such as excavators, cranes, loaders, and breakers, as well as hydraulic support sealing systems for coal machines. The company started to subscribe on September 2, with an issue price of 18.66 yuan per share, a market value of 1.679 billion before the issue, and an issue price-earnings ratio of 39.92 times, which is 27.29 times higher than the industry price-earnings ratio. It belongs to the Growth Enterprise Market, and the sponsor is Guosen Securities. From 2019 to 2021, the company's revenue is 289.3 million, 405 million, and 410.7 million, and the revenue in 2021 will increase by 1.39% year-on-year; the net profit will be 46.91 million, 76.9 million, and 59.64 million, respectively. Down 22.45%. The company expects that in the third quarter of 2022, revenue will drop by 16.39%~7.1% year-on-year, net profit will drop by 14.86%~6.12% year-on-year, and non-net profit will drop by 12.37%~3.15% year-on-year. Domestically, the comparable companies of the company in the same industry are UTech and Hebei Longli. UTech is a wholly-owned subsidiary of Zhongmi Holdings, while Hebei Longli has not yet been listed. Therefore, it can only be compared with Zhongmi Holdings. According to the 2021 annual report, the valuation of Weiwan Sealing is a bit high. Subscription strategy: The company's performance is unstable, the net profit in 2021 will drop by 22.45% year-on-year, and the company expects that the net profit in the third quarter of 2022 will drop by 14.86%~6.12% year-on-year. The company's issuance price-earnings ratio is 39.92 times, which is higher than the industry's price-earnings ratio of 27.29 times, and based on the 2021 annual report, compared with Zhongmi Holdings, the valuation of Weiwan Sealing is also a bit high. The company's plate is relatively small, the total market value is only 1.866 billion, and the issue price of 18.66 yuan is still cheap. In general, the company has a high valuation and poor performance, but the plate is small and the price is not expensive. How to choose, the current market is still 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:Aerospace stock)