Ningbo Ocean Transportation Co., Ltd. plans to issue 130.8633 million shares on the Shanghai main board, with a total share capital of 130.86333 million shares after issuance, with an issue price of 8.22 yuan.
1. Main business
Issuer is a comprehensive shipping company, mainly engaged in shipping business, ship agency business and dry bulk cargo forwarding business of international, coastal and Yangtze River routes. As of the end of August 2022, the company had 42 own ships and 42 chartered ships, forming a comprehensive fleet with a gradient complementary container ships from 3,000 to 40,000 tons and maintaining a certain number of dry bulk ships (8 ships). It has developed into the largest container liner enterprise in Zhejiang Province. The company operates a total of 26 container liner routes, with more than 100 flights per week, and has basically built an internal branch and domestic trade network connecting the north and south coasts and 30 ports along the Yangtze River, and a near-ocean transit network covering Taiwan, Japan, South Korea and Southeast Asia.
2. Main operating data
(1) Main operating performance in the reporting period
(2) Operating situation from January to September 2022
Company estimated its performance from January to September 2022, and expected operating income from January to September 2022 to be approximately 341,61333 million yuan to 376,84153 million yuan, and increased by approximately 23.61% to 36.36% year-on-year; net profit attributable to parent company shareholders was approximately 539.0554 million yuan to 581.0754 million yuan, an increase of approximately 38.70% year-on-year to 49.51%; net profit attributable to parent company shareholders after deducting non-recurring gains and losses was approximately RMB 505.5732 million to RMB 546.7532 million, an increase of approximately RMB 34.64% to 45.60% year-on-year.
3. The raised funds invested in
. After deducting the issuance expenses, the raised funds raised in the company's new shares will be invested in the following projects: container ship purchase project, bulk carrier purchase project, 10,000 TEU container purchase project, and supplementary working capital project.
4. Stock issuance price-earnings ratio
The issuance price of this 8.22 yuan/share corresponds to the lower net profit attributable to the parent company shareholders in 2021 after deducting non-recurring gains and losses. The diluted price-earnings ratio attributable to the parent company shareholders is 22.97 times, which is higher than the industry's static price-earnings ratio in the past month, and is higher than the average 2021 price-earnings ratio of comparable companies in the same industry. There is a risk that the issuer's share price will bring losses to investors in the future.
5. Subscription recommendations
Company stock is issued on the Shanghai main board. The industry belongs to the "water transportation industry". The issuance price-to-earnings ratio of is higher than the stock price-to-earnings ratio of comparable companies in the same industry. There is a risk of breaking the issue price-to-earnings ratio, so please be cautious when applying.
6. Special statement
(1) In addition to the subscription proposal, other information above are mainly derived from the company's prospectus, the company's official website and publicly published information.
(2) New shares are risky, so be cautious when applying. The above suggestions are for reference only and are not your final subscription decision. The profit and loss results are borne by yourself.
