Lei Di Network Lei Jianping June 28
Chongqing Sulian Plastic Co., Ltd. (abbreviation: "Sulian Stock", stock code: 301397) was listed on the Growth Enterprise Market of Shenzhen Stock Exchange today.
Sulian shares issued 25.01 million shares this time, with an issue price of 53.27 yuan and raised funds of 1.332 billion yuan.
Backlink shares originally planned to raise 392 million yuan, which means that backlink shares overraised by more than 900 million yuan.
The opening price of Sulian shares on the first day was 48 yuan, which was nearly 10% lower than the issue price; the closing price was 45.14 yuan, which was 15.3% lower than the issue price.
Today’s closing price of Sulian shares was 42.52 yuan, down 5.8% from the previous day; this means that it fell 20% in two days; based on today’s closing price, the company’s market value is 4.254 billion yuan.
Annual revenue of 850 million
Sulian Co., Ltd. is a professional design, production and service enterprise engaged in the design, production and service of plastic nylon pipeline series (automotive fuel/vacuum system pipeline assembly, etc.), plastic quick connectors and plastic fasteners (plastic pipe clips). The main business of Sulian Co., Ltd. is the design, research and development, production and sales of plastic fluid pipeline products and parts for automobiles.
Sulian Co., Ltd. is the first-tier supplier of vehicle manufacturers such as Changan Automobile, SAIC-GM-Wuling, BYD, SAIC-GM, Changan Ford, Beijing Automobile, Chery Automobile, FAW Jiefang, and Brilliance Xinyuan; , Yachiyo, Suao Sensing, Usui Motors, Luzhou Development, Yada Motors, Ningde Times and other parts manufacturers provide fluid pipeline assemblies and related parts and components.
According to the prospectus, Sulian’s revenue in 2020, 2021, and 2022 will be 585 million yuan, 726 million yuan, and 849 million yuan respectively; the net profit will be 89.77 million yuan, 111 million yuan, and 153 million yuan.
In the first quarter of 2023, Sulian’s revenue was 221 million yuan, a year-on-year increase of 19.95%, and non-net profit was 30.2389 million yuan, a year-on-year increase of 6.28%.
Sulian expects revenue in the first half of 2023 to be 401 million to 424 million, an increase of 10.99% to 17.29% over the same period last year, mainly due to the large increase in sales revenue to customers such as BYD, Ningde Times, and GAC Group; the estimated net profit 63.85 million to 69.96 million yuan, an increase of 1.19% to 10.86% compared with January-June 2022, and it is expected to deduct non-net profit from 63.38 million to 69.482 million yuan, a year-on-year increase of 1.9% to 11.7%.
Han Zongjun is the major shareholder
Before the IPO, Han Zongjun has been the actual controller, holding 41.82% of the shares, and served as the chairman and general manager of the company. Han Xiao holds 29% of the shares, Zhou Tinghui holds 4.32% of the shares, and Wen's Growth No. 1 (Zhuhai) Equity Investment Partnership (Limited Partnership) holds 3.84% of the shares;
Shenzhen Nanhai Growth and Winning Equity Investment Fund (Limited Partnership) holds 3.84% of the shares, Qiu Liquan holds 3.77%, Wang Hairong holds 3.2%, and Zhang Xingtang holds 3%;
Ningbo Meishan Free Trade Port Zone Zhongli Ruiying Venture Capital Partnership (Limited Partnership) holds 1.9% of the shares, Tang Guozhen and Huang Jiayong each hold 0.8% of the shares, and Xu Zijing holds 0.73% of the shares.
After the IPO, Han Zongjun held 31.37%, Han Xiao held 21.77%, Zhou Tinghui held 3.24%, and Wen's Growth No. 1 (Zhuhai) Equity Investment Partnership (Limited Partnership) held 2.88%;
Shenzhen Nanhai Growth and Winning Equity Investment Fund (Limited Partnership) holds 2.88% of the shares, Qiu Liquan holds 2.83% of the shares, Wang Hairong holds 2.4% of the shares, and Zhang Xingtang holds 2.25% of the shares;
Ningbo Meishan Free Trade Port Zone Zhongli Ruiying Venture Capital Partnership (Limited Partnership) holds 1.43% of the shares, Tang Guozhen and Huang Jiayong each hold 0.6% of the shares, and Xu Zijing holds 0.55% of the shares.
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