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Original title: IPO breaks frequently, new stocks are hitting new earnings, and revenue is declining Source: Shanghai Securities News
Yesterday,Yahong MedicineLanded on the Science and Technology Innovation Board, the stock price opened low throughout the day, closing down 23.41%, the turnover rate was 48.53%, and the turnover was 910 million yuan, becoming the first listed company to break in 2022.New crotch。
The prospectus shows that Yahong Medicine is a global innovative drug company focusing on genitourinary system tumors and other major diseases. From 2018 to 2020, Yahong Pharmaceutical has net losses of 59.936 million yuan, 172 million yuan, and 247 million yuan; it is expected to have a net loss of 201 million yuan to 242 million yuan in 2021.
Recently,Multiple registration-based IPOs broke on the first day of listing, Arouse market attention. According to statistics, from December 27, 2021 to yesterday, 5 of the 11 registered new shares broke on the first day of listing, with a break rate of 45%.
according toCITIC SecuritiesStatistics show that in 2021, there will be 200 million to 500 million A-type accountsHit new incomeThe rate is about 6.2% to 12.3%.From a structural point of view, the Science and Technology Innovation Board and ChiNextMake a newContribution exceeds 80%; from the time series, the monthly revenue of new sales shows a trend of rising first and then falling. In 2020, the new rate of return of 200 million to 500 million A-type accounts will be about 10.5% to 17.4%. Compared with 2020, the income of new sales in 2021 has shown a downward trend. Among them, the decline in income of C accounts and large-scale accounts is more prominent.
Looking ahead to the offline allotment market of new shares in 2022, institutions expect that the returns are acceptable and worth participating in.
according toCICCAccording to the analysis, from the offline allotment market, the first day and initial gains of new stocks at this stage are mainly due to investor sentiment deviation. At present, it may be an unstable equilibrium state, which is easily affected by market fluctuations, but the chips on the first day of listing are scattered. The degree will still strongly support the central level of emotional deviation, and the possibility of monthly and quarterly losses for inquiry agencies is relatively low.
For inquiring institutions, under the condition that the proportion of offline allotment has not risen significantly and individual stocks have diverged substantially, adopting the all-in-one strategy should be the best choice for most inquiring institutions.
CICCSaid that, without considering the full implementation of the registration system for new share issuance and the Beijing Stock Exchange, the offline allotment market in 2022 is still relatively optimistic, and it is recommended that inquiry agencies actively participate. Under the neutral assumption, for accounts of 500 million yuan in categories A, B, and C, the new yield rate for the whole year of 2022 is expected to reach 3.24%, 2.67% and 1.88%.
CITIC SecuritiesIt is believed that the reform of the registration system of the Main Board is expected to become a new growth point for new revenue, but the increase is not as obvious as the reform of the registration system of the GEM. On the whole, it is expected that in 2022, the revenue of offline new sales will further decline. Under neutral assumptions, the annual return rate of new sales of 200 million to 500 million A-type accounts is about 2.5% to 5.3%.
(Source: Shanghai Securities News)
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