Gao Ling Information (688175), which was listed on the market and fell into a downturn as a whole, started to plan to increase its shareholding in the window of time before the official disclosure of the first quarterly report.
On the evening of April 10, Gaoling Information issued an announcement that the controlling shareholder, Zhuhai Gaolin Technology Investment Co., Ltd., based on its confidence in the future development of its listed company and its recognition of the company’s long-term investment value, plans to start six months on April 11. During the month, the company’s shares will be increased through centralized bidding transactions, and the total amount of shares to be increased is not less than 10 million yuan and not more than 12 million yuan.
Broke on the day of listing
Although it was not stated in the announcement, according to a rough calculation by a reporter from Securities Times·e Company, according to the latest closing price of Gaoling Information of 34 yuan, the number of shares held by the controlling shareholder is about 300,000 shares.
In absolute terms, the number of additional shares held is not much, which does not rule out a certain relationship with Gao Ling Information’s shareholding concentration. Before the increase in holdings, the controlling shareholder Gaoling Investment held 40 million shares of Gaoling Information, accounting for 43.05% of the company’s total share capital.
This round of Gao Ling Investment’s increase in Gao Ling Information is the first increase in Gao Ling Information since its listing. It has been less than a month since the company officially landed in A shares. It should be pointed out that the important background of this increase in holdings is that the stock price of Gaoling Information broke and continued to decline on the same day after the IPO of Gaoling Information landed on A shares.
On March 15 this year, Gaoling Information officially landed on the Science and Technology Innovation Board, completing a key step in the company’s financing and development.
However, after the listing of Gaoling Information, the stock price realization continued to be sluggish. As of the latest closing day, even in the state of breaking, Gaoling Information’s stock price has fallen by more than 30% from the highest price after listing of 51 yuan.
This stock price performance is obviously inconsistent with the market expectations on the eve of Gaoling Information’s listing. In March of this year, in the issuance of Gaoling Information, in addition to the investment of related subsidiaries of the sponsor, there were also a number of strategic investors participating in the placement, including China Insurance Investment Fund (Limited Partnership), China Electronics Technology Investment Holdings Co., Ltd. and Southern Industrial Asset Management Co., Ltd.
The market view at that time believed that the investment companies under the two major state-owned enterprise groups participated in the issuance of Gaoling Information as strategic investors, and built a bridge for cooperation between Gaolin Information and high-quality state-owned enterprises in the fields of military communication and network security. At the same time, arranging a certain proportion of strategic placements in this issuance of Gaoling Information will help reduce the scale of issuance to the market, reduce subsequent pricing pressure and support the stock price performance after listing.
Deduction of non-net profit from profit to loss
The falling stock price can be regarded as a reflection of performance fundamentals. In the prospectus disclosed on March 10, Gao Ling Information once predicted the performance of January-March 2022. At that time, it was predicted that the operating income range from January to March 2022 would be 74 million yuan to 96 million yuan, with a year-on-year increase of 18.02% to 53.10%; the expected net profit range was 11 million yuan to 18 million yuan, with a year-on-year increase of 92.27% to 53.10%. 214.63%; it is estimated that the net profit after deduction is 8 million yuan to 15 million yuan, with a year-on-year increase of 88.66% to 253.74%.
But the plan couldn’t keep up with the changes. Less than a month later, Gaoling Information released the latest announcement, announcing that it would correct the performance forecast for the first quarter of this year.
According to Gao Ling Information disclosed on the evening of April 6, according to the calculation of the company’s financial management department, it is estimated that the operating income range from January to March is 41 million yuan to 45.6 million yuan, a year-on-year decrease of 27.28% to 34.61%; it is expected to belong to the shareholders of the parent company. The net profit range of 2.1 million yuan to 2.7 million yuan, a year-on-year decrease of 52.81% to 63.29%; the net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses is expected to range from -8.05 million yuan to -8.6 million yuan, a year-on-year decreased by 289.84% to 302.8%.
Why has there been a sudden change in business performance in less than a month?
The reason is related to the epidemic. Affected by the novel coronavirus epidemic, the implementation of some contracts of Gaoling Information was hindered, and related products were not delivered and accepted as scheduled in accordance with the contract, and revenue recognition could not be realized during the reporting period. According to the company’s previous disclosures, the contract amount involved in the failure to deliver and accept the goods on time was about 45.89 million yuan, and the net profit affected was about 28.05 million yuan.
In contrast, before the listing, Gaoling Information’s operating income and net profit attributable to the parent maintained steady growth. From 2018 to 2020, the compound growth rate of the company’s operating income reached 50.54%, and the compound growth rate of net profit attributable to the parent was 128.85%. Judging from the newly disclosed first-quarter performance forecast, some of the company’s financial data have dropped in stages.
The downturn in Gaoling Information’s share price is not an exception. Among the new stocks listed recently, a considerable proportion of stock prices performed poorly. For example, Puyuan Jingdian, which has not yet made a profit, landed on the Science and Technology Innovation Board on April 8, but broke on the first day of listing, and fell 34.66% as of the close, the largest drop on the first day of listing of new shares in nearly 20 years. If the closing price is 39.78 yuan According to calculations, the floating loss of the new shares of Puyuan Jingdian in the first batch is more than 10,000 yuan.
However, a reporter from Securities Times · e company combed and found that some new shares have also started the operation of escorting stock prices. In addition to Gao Ling’s information, Aidi Pharmaceutical also issued an announcement on April 9 that the actual shareholder plans to increase his shareholding. As the controlling shareholders or actual controllers increase their holdings of funds into the market, whether it will bring stock price support to these sluggish new stocks, it will be answered in the follow-up time.Return to Sohu, see more
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