RCCN WeChat QrCode
Mobile WebSiteIn the first week of the market opening, the transaction was generally stable and the operation situation was good. The 10 new stocks showed great success, all of which increased by more than 50% compared to the issue price. The 81 stocks listed on the Beijing Stock Exchange had a total turnover of 21.249 billion yuan in the first week, an increase of 158.69% from the week before the market opened. Institutional investors accelerate their entry. On November 19, the first batch of 8 Beijing Stock Exchange themed funds were collectively sold, all of which were over-raised in the morning.
The opening of the Beijing Stock Exchange not only echoes the Shenzhen Stock Exchange and the Shanghai Stock Exchange, but also opens a new chapter in supporting the innovation and development of SMEs. Small and medium-sized innovative companies such as "specialized, special and innovative" have more channels for listing and financing, and the journey for entrepreneurs to "go ashore" has been significantly shortened. Promoting development vitality through small and medium-sized enterprises also injects a booster for the current economic slowdown.
China Industry News found that among the 81 listed companies, 16 have their main business related to automobiles, 6 companies are from the energy sector represented by photovoltaics and gas, and 10 companies are mainly small and medium-sized pharmaceutical innovations. These "new faces" on the high-prosperity track are continuing to strengthen in the docking with the capital market.
Fan Xiaoxin, vice president of the China Association of Small and Medium Enterprises and president of the Beijing Credit Association, said in an interview with China Industry News, “Small and medium-sized technology companies and private enterprises are currently the ones that are'most short of money.' There are practical problems of fewer financing channels and difficulty in financing. Going to the Beijing Stock Exchange may become a new export for scientific and innovative SMEs to broaden their financing channels. The establishment of the Beijing Stock Exchange will help'specialized, special and new' small and medium-sized enterprises to rapidly grow into "Champion companies" and leading companies in various fields have fully stimulated the development momentum of the company."
The latest data shows that the New Third Board has accumulated more than 8,000 listed companies and raised nearly 750 billion yuan. These companies are gradually advancing to the Beijing Stock Exchange and will receive more financial support.
20% of enterprises come from the automotive industry chain
On the first day of the opening of the Beijing Stock Exchange, the “market capitalization brother” Bate Rui rose sharply, with a rise of 5.43% at one time, and a total market value of 95.5 billion yuan at one time. It became the most active stock of the Beijing Stock Exchange and is expected to become the first stock of the Beijing Stock Exchange. A company with a market value of over 100 billion.
As the world's leading lithium battery negative electrode material company with the highest profit among 81 companies, Beterui's net profit in the first three quarters of this year reached 1.090 billion yuan. It is currently the only company with a net profit of over 1 billion yuan on the Beijing Stock Exchange.According to the data, Betterre uses lithium-ion battery anode and cathode materials as its core, and has formed a production capacity layout covering the main cluster areas of the new energy industry. Especially in the field of negative electrode materials, Beterui is a veritable "boss", with customers covering major battery companies such as Ningde Times, Guoxuan High-Tech, Yiwei Lithium Energy, BYD, and Panasonic, Samsung SDI, LGES, and SKI. Since 2013, BTR's anode material shipments have ranked first in the world for 7 consecutive years.
"Under the nourishment of the new third board market, BTR has achieved leapfrog development. As an important measure of China's multi-level capital market reform, the launch of the Beijing Stock Exchange has allowed China's'specialized, special, new' enterprises to gain greater Opportunity and strength." He Xueqin, chairman of Betterray, said frankly.
On the third day of the market opening, Bate Rui received 9 public offerings including China Guangfa Fund, E Fund, and Dacheng Fund. In this regard, Baterui said, “At present, both the new energy vehicle and energy storage market are in a stage of high growth, and the demand is further accelerating. Baterui is located in Huizhou, Tianjin, Changzhou and other bases. There are corresponding land reserves, and new expansion plans can be launched at any time according to market demand. The company believes that in the next few years, the high-nickel cathode will be mainly based on overseas markets. Bettere will be deeply bound with overseas customers, and based on customer needs and Market changes determine the expansion plan of high nickel."
Including Baterui, among the 81 first batch of listed companies on the Beijing Stock Exchange, 16 companies have their main businesses related to the automotive industry. These companies cover auto parts, vehicle production, manufacturing, and sales. , Accounting for nearly 20%.
Among the 11 auto parts companies, 3 are affiliated to upstream auto raw material suppliers. Among them, Fengguang Precision Products mainly produces metal parts processing, die-casting parts, etc., and is a supplier of auto parts companies. Hechang Polymerization is mainly engaged in the design, development, production and sales of various modified polymer materials. The products are mainly used in the automotive and home appliance industries. Its core customer groups include Geely Automobile, SAIC, Great Wall Motors, LG, Samsung, Skyworth and other well-known domestic and foreign companies . Jingsai Technology, which has focused on quartz crystal oscillators for more than ten years, mainly engages in the design, R&D, production and sales of quartz crystal oscillators and packaging materials, and is applied to automotive electronics, communication networks, mobile terminals, Internet of Things and other fields.
8 companies belong to auto parts manufacturers.
2 companies are from Hubei. Among them, Taixiang shares were the first batch of NEEQ selected layer companies in the country listed in July last year, and Huayang Transmission was listed on the NEEQ selected layer in July this year. The main product of the former is the core component of automobile engine-engine main bearing cover, which is a global supplier and A-level supplier of the Volkswagen Group. The latter is mainly engaged in the design, research and development and manufacturing of automobile shifting mechanisms, and is committed to automobile parts. Lightweight.
2 companies are from Jiangsu. Among them, Suzhou Co., Ltd. mainly produces needle roller bearings and rolling elements, which are used in important assemblies such as automobile engines and gearboxes; Dadi Electric mainly focuses on the technology research and development, product manufacturing and technical services of automobile wiring harnesses and related parts.
2 companies are from Shandong. Among them, the business of Jianbang Technology is mainly the development, design and sales of non-fragile parts in the automotive aftermarket; Vantone Hydraulics is mainly engaged in the research and development, production and sales of hydraulic cylinders, and its products are widely used in automobiles, construction machinery and other fields.
The other two are from Henan and Anhui. Founded in September 2001, Concentric Transmission is located in Xuchang, Henan. It is a family-owned company focusing on the R&D, production and sales of non-constant velocity transmission shafts and related parts; Anhui Phoenix, established in 2006, is an automotive filter Leading company, this time landing on the Beijing Stock Exchange has achieved a zero breakthrough for listed companies in China's filter industry.
It is worth mentioning that among the 16 companies whose main business is related to automobiles, Haomiao Technology is the only vehicle manufacturer, which is mainly engaged in the domestic fire truck market; Dezhong Automobile is the only automobile dealer, focusing on automobile sales and automobiles. Aftermarket services. The other two are special-purpose vehicle manufacturers, namely Tongli and Wuxin Tunnel.
6 energy stocks outperformed overall
Among the 81 first batch of companies listed on the Beijing Stock Exchange, 6 companies are from the energy sector, including photovoltaic equipment manufacturers Liancheng CNC, Tongxiang Technology, gas company Kaitian Gas, power cable company spherical crown cable, electrical equipment company Tonghui Electronics, And Changhong Energy, a manufacturer of alkaline manganese batteries.
Compared with the market enthusiasm of Beiterui, the “first brother” of the Beijing Stock Exchange, since the opening of the market, the “second brother” of the Beijing Stock Exchange (with a total market value of 24.2 billion yuan, ranking second among the first batch of 81 listed companies on the Beijing Stock Exchange) The performance of CNC was sluggish, and all four trading days ended in decline, but it was still favored by many public offering institutions.The announcement from Liancheng CNC shows that on the third day of the Beijing Stock Exchange, Liancheng CNC received "group" surveys from 9 institutions through telephone surveys, including Guangfa Fund, E Fund, Dacheng Fund, etc. This is exactly the same as the nine public offering institutions that investigated Beterui, and the time is also November 17th.
According to the survey, "With the development of the new energy market, Liancheng CNC is gradually adjusting its business scope and product structure. While ensuring the sustained and stable development of its main business, it has also strengthened the research and development and performance improvement of all kinds of crystal material manufacturing and other automatic production equipment. Focusing on equipment manufacturing and auxiliary materials for the photovoltaic and semiconductor industry chains, we will integrate high-quality upstream and downstream resources."
Liancheng CNC, established in 2007, is the world's leading supplier of crystalline silicon growth and processing equipment for the photovoltaic and semiconductor industries. Single crystal furnaces and wire cutting equipment are the company's main sources of income, accounting for 86.0% of revenue in 2020. The actual controllers of the company, Li Chunan and Zhong Baoshen, are the core figures of LONGi, the leader in photovoltaic silicon wafers.
"In 2021, Liancheng CNC has achieved a major breakthrough in customer structure, and the number of orders from non-Longi shares has greatly increased. In 2021, the company’s new orders from non-Longi shares exceed one billion yuan. It is expected that a single customer will account for The proportion of revenue will gradually decrease. Previously, Liancheng CNC's main customers were mainly Longji shares." Liancheng CNC said.
With the support of policies such as carbon neutrality, the demand in the photovoltaic industry has been improving for a long time. Sharing Technology, which ranks among the forefront of the photovoltaic ribbon market, as a typical representative of the "little giant" enterprise with "specialization, special innovation", with the help of the east wind of the Beijing Stock Exchange, is ushering in a broader space for development.
According to the data, Tongxiang Technology was established in November 2010 and listed on the New Third Board in 2016. It is a wholly-owned subsidiary of Tongxiang Hong Kong Co., Ltd. The main business of Tongxiang Technology is high-performance photovoltaic ribbon products. From 2016 to 2020, the compound annual growth rate of operating income of Sharing Technology is 44.1%, and the compound annual growth rate of net profit is 44.2%. In the first three quarters of this year, it achieved operating income of 618 million yuan and net profit of 42.79 million yuan. In the market structure where more than 80 manufacturers are fighting for photovoltaic ribbons, ShareShare has a market share of about 10%, which is at the forefront of the industry.
Under the dual-carbon goal, the overall tone of the natural gas industry's sustained and steady development remains unchanged. As the "first gas stock" of the Beijing Stock Exchange, Kaitian Gas has become one of the few gas companies in China that has been awarded a "National High-tech Enterprise". It is also the first company in Ningxia and the first domestic public utility to be listed on the Beijing Stock Exchange. In the first week of the market, under the market tone of shifting "old stocks" mainly based on valuation adjustments, only Kaitian Gas rose by 17.27%.
Data shows that in the first half of 2021, Kaitian Gas achieved operating income of 209 million yuan, a year-on-year increase of 30.05%; net profit was 30.1 million yuan, a year-on-year increase of 46.14%. The characteristic business model of "gas equipment + gas service" established by Kaitian Gas has formed a benign complementary cycle of the gas service industry chain and has become the company's main differentiated competitive advantage.
Regarding this landing on the Beijing Stock Exchange, Kaitian Gas said, “It will effectively use the capital market platform to break regional monopoly restrictions and open up new markets through multiple forms and channels such as equity financing and mergers and acquisitions.”
It is worth mentioning that, as a regional leading enterprise in the wire and cable industry, Ball Crown Cable won the "first show" of Ningbo Enterprise Beijing Stock Exchange. According to the data, the ball cap cable is a national high-tech enterprise. The company's main products are wires and cables of 500kV and below. The products are widely used in power, energy, transportation and other fields. The company's technology for producing 220kV and below wire and cable is at an advanced level in China, and it is currently one of the few domestic companies that have the capacity to produce 500kV ultra-high voltage and large cross-section power cables.
"Qingguan Cable is moving from a leading domestic regional wire and cable company to an internationally competitive professional cable integrator. We will take the listing of the Beijing Stock Exchange as an opportunity, make full use of the capital platform, and strive to promote the development and growth of the company." Chen Yongming, chairman of the crown cable company, said.
Beijing Stock Exchange, which has the mission of cultivating more "hidden champions", is attracting more high-quality SMEs to go public. On the evening of November 19, Yoshioka Precision, a benchmarking company in the precision metal products industry, issued an announcement stating that the company's stock will be listed on the Beijing Stock Exchange on November 24 with the approval of the Beijing Stock Exchange. At this point, Yoshioka Precision will become the 11th new stock after the opening of the Beijing Stock Exchange, and the number of companies listed on the Beijing Stock Exchange will increase to 82. On the same day, the New Third Board Company Gangbao Co., Ltd. submitted to the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission the guidance and filing materials for applying for a public offering and listing on the Beijing Stock Exchange, and the company entered the listing guidance stage. The A-share listed company Nangang Co., Ltd. spun off the shares of its holding subsidiary Gangbao to the Beijing Stock Exchange and became the first listed company to announce the "A Split North" after the Beijing Stock Exchange opened.
"Small and medium-sized enterprises, according to the original play and living methods, are generally difficult to break through the obstacles and bottlenecks of growth and move towards leapfrogging and sustainable development. Whether they are in the preparation period or have landed in the small and medium-sized enterprises, they should continuously improve their organization and upgrade. Make good use of the convenience of the Beijing Stock Exchange to realize the leapfrog development of the enterprise." Fan Xiaoxin reminded, "Strategy and profit model should be upgraded, operation management should be standardized, development direction and business structure should be optimized, and talent cohesion should be enhanced. The foundation of credit endorsement has continuously enhanced corporate credibility and brand reputation."
10 pharmaceutical companies have their own strengths
The first batch of listed companies on the Beijing Stock Exchange are distributed in 18 industries. Among them, pharmaceutical and biological companies are the main force of listed companies on the Beijing Stock Exchange. There are 10 companies in total, accounting for 12.34%.
These 10 companies are mainly small and medium-sized pharmaceutical innovation companies, namely Northland, Sanyuan Gene, Datang Pharmaceutical, Zilungong, Biological Valley, Deyuan Pharmaceutical, Senxuan Pharmaceutical, Yongshun Biological, Jinhao Medical and Lude Medical are all translated from the selection layer of the New Third Board Market.From the perspective of industry segments, among the 10 pharmaceutical and biological enterprises, 2 are manufacturers of medical and healthcare equipment, namely Jinhao Medical and Lude Medical. The remaining 8 companies are all pharmaceutical companies. Among them, there are 2 biotechnology companies, namely Sanyuan Gene and Northland; 3 traditional Chinese medicine companies, namely Datang Pharmaceutical, Zilungong, and Biological Valley; 3 western medicine companies, including Deyuan Pharmaceutical, Senxuan Pharmaceutical, and Yong Shun biological.
On the whole, 10 pharmaceutical and biological enterprises show the characteristics of "small, specialized, and sophisticated".
The overall scale of the 10 pharmaceutical and biological enterprises is relatively small. From the perspective of market value, the highest Northland is only 4.651 billion yuan, ranking tenth among 81 companies. From the perspective of operating revenue and net profit, Sen Xuan Pharmaceutical is the company with the highest revenue in the pharmaceutical and biological sector. In 2020, it will achieve operating revenue of 545 million yuan, ranking 18th among companies in the Beijing Stock Exchange. Northland, which specializes in biopharmaceutical research and development, will only achieve operating income of 41.44 million yuan in 2020, ranking first from the bottom.
Financial data shows that Northland’s net profit attributable to its parent has been in loss for 8 consecutive years. From 2013 to 2016, the net profit attributable to the parent company was -8,508,000 yuan, -10.51 million yuan, -18.28 million yuan, and -15.01 million yuan. In 2020, the company lost 25.35 million yuan. "Existing funds are expected to support daily operations for 5 to 6 years until Northland's first new bioengineered drug is approved for listing. It is expected that it is less likely to face cash flow difficulties before the core products generate revenue." Guotai Junan Research Report analyze.
10 pharmaceutical and biological enterprises have their own strengths in specialization and new fields, and the effect of strengthening the chain is obvious. From the perspective of main business, these pharmaceutical companies are involved in the research and development of traditional chemical drugs, chemical raw materials, innovative drugs, traditional Chinese medicine and ethnic medicine, research and development of veterinary biological products, and research and development of medical devices and health care products. Each company has its own long.
For example, Northland focuses on breakthroughs in gene therapy drugs and recombinant protein drugs; Ternary Gene’s main product, recombinant human genetic engineering α1b interferon, is China’s first new class of genetic engineering drug with independent intellectual property rights; Datang Pharmaceutical uses a location With the advantage of resources in Inner Mongolia, we are deeply engaged in the Mongolian medicine industry. Currently, we have 29 kinds of Mongolian medicines, 11 of which are listed in the national medical insurance catalogue; the "China Time-honored" brand "Zilangong" has successively developed Citicoline Sodium Tablets, Rizatriptan benzoate capsules and many other new drug varieties; As the first listed company in Yunnan on the Beijing Stock Exchange, Bio Valley is committed to the research and development of drugs in the field of ischemic cardiovascular and cerebrovascular diseases; Deyuan Pharmaceuticals focuses on endocrine Therapeutic drugs, 4 products were the first to be reviewed, metformin hydrochloride sustained-release tablets (0.5g) and nateglinide tablets (0.12g) entered Guocai; Senxuan Pharmaceutical is an A-share listed company's API platform under Jinghua Pharmaceutical. Its products cover multiple fields such as anti-tumor, anti-bacterial, anti-hypertensive, etc.; Yongshun Bio is deeply engaged in the field of veterinary biological products; Jinhao Medical has gradually grown into a leading domestic hearing aid company; Lude Medical focuses on blood oximeter, Household medical equipment such as nebulizers.
The R&D investment of 10 pharmaceutical and biological enterprises accounted for a relatively high proportion, and their development momentum was strong. According to statistics, there will be 10 companies with R&D expenses accounting for more than 10% of operating income among the companies of the Beijing Stock Exchange in 2020, of which biomedical companies account for 40%. Northland’s R&D investment accounted for 58.27% of its operating income, ranking first in the Beijing Stock Exchange’s R&D investment.
"It should be noted that the overall growth capacity of the 10 Beijing Stock Exchange biomedical companies in 2020 will tend to improve, but the differentiation is obvious. From the perspective of operating income, the operating income of six companies in 2020 will increase year-on-year, of which Northland's business Revenue growth rate reached 471.44%; 4 companies experienced negative year-on-year revenue growth, of which Ternary Gene’s operating revenue in 2020 fell by 33.93% year-on-year. From the perspective of net profit, the net profit of 6 companies in 2020 increased year-on-year, of which Lude Medical The net profit growth rate of 4 companies increased by 66.94% year-on-year; the net profit of 4 companies fell, of which Northland's net profit fell 54.09%, and the net profit of Sanyuan Gene fell 40.15%." Yuekai Securities analyst Chen Mengjie analyzed.
