1, Tianshan Electronics
Tianshan Electronics is mainly engaged in the research, design, production and sales of customized LCD screens and display modules in the professional display field. The main products include monochrome LCD screens, monochrome LCD display modules and color LCD display modules. Issuer customers are widely distributed in smart homes, smart financial data terminals, communication equipment, industrial control and automation, people's livelihood energy, , health care, and automotive electronics.
company started subscription on October 17, with an issue price of 31.51 yuan per share, with a market value of 2.395 billion yuan before issuance, and a price-earnings ratio of 37.53 times, which is higher than the price-earnings ratio of industry , and belongs to the GEM , and the sponsor is Shenwan Hongyuan Securities .
From 2019 to 2021, the company's revenue was 506.8 million, 615.4 million, and 1.089 billion, respectively. The revenue in 2021 increased by 76.96% year-on-year; the net profit was 38.08 million, 47.85 million, and 97.23 million, respectively, and the net profit in 2021 increased by 103.19% year-on-year.
The company expects revenue in the third quarter of 2022 to increase by 14.88% to 17.42% year-on-year, net profit increased by 16.08% to 18.81% year-on-year, and net profit excluding non-network increases by 37.55% to 40.71% year-on-year.
According to the 2021 annual report as an example, Lao Yu compared it among comparable companies in the same industry to remove losses. Judging from the dynamic price-to-earnings ratio, Tianshan Electronics is similar to the average value, and it should be said that the valuation is relatively reasonable.
subscription strategy:
company operates well, and its revenue and net profit maintain growth every year. The net profit in 2021 increased by 103.19% year-on-year, and the company expects that the performance in the third quarter of 2022 will also have good growth. The company's issuance price-to-earnings ratio is 37.53 times, which is 26 times higher than the industry's price-to-earnings ratio. However, among comparable companies in the same industry, from the perspective of dynamic price-to-earnings ratio, Tianshan Electronics is not much different from the average, so it should be said that the valuation is relatively reasonable. The company's plate is not big, with a total market value of 3.193 billion yuan. The issue price is 31.51 yuan. It is not very expensive. It is recommended to apply for with caution. I plan to participate in the subscription!
2, Weice Technology
is a well-known third-party integrated circuit testing service company in China. Its main business includes wafer testing, chip finished product testing and supporting services related to integrated circuit testing. The wafers and finished chips tested by the company cover the types of chips such as CPU, MCU, FPGA, SoCh chips, radio frequency chips, memory chips, sensor chips, power chips, etc., in terms of process, advanced processes such as 6nm, 7nm, 14nm and mature processes above 28nm. In terms of wafer size, mainstream products such as 12-inch, 8-inch, and 6-inch are included in the fields of communications, computers, automotive electronics, industrial control, consumer electronics, etc.
company started subscription on October 17, with an issue price of 61.49 yuan per share, with a market value of 4.022 billion yuan before issuance, and the issuance price-earnings ratio is 42.03 times, which is 25.93 times higher than the industry price-earnings ratio. It belongs to Science and Technology Innovation Board , and the sponsor is Founder Securities .
From 2019 to 2021, the company's revenue was 77.93 million, 161.2 million, and 493.1 million, respectively, and its revenue in 2021 increased by 205.93% year-on-year; its net profit was 11.28 million, 34.85 million, and 123.3 million, respectively, and its net profit in 2021 increased by 279.31% year-on-year.
The company expects revenue in the third quarter of 2022 to increase by 55.43% to 73.03% year-on-year, net profit increased by 77.56% to 98.32% year-on-year, and net profit excluding non-network profit increased by 78.76% to 99.95% year-on-year.
subscription strategy:
company operates well, and its revenue and net profit maintain growth every year. The net profit in 2021 increased by 279.31% year-on-year, and the company expects its performance in the third quarter of 2022 to also grow rapidly. The company's issuance price-to-earnings ratio is 42.03 times, which is 25.93 times higher than the industry's price-to-earnings ratio. However, based on the expected non-net profit in the third quarter in 2022, the dynamic price-to-earnings ratio is 25.41 times, which is similar to the industry's price-to-earnings ratio. It should be said that the valuation is relatively reasonable.The company has a medium-sized plate, a total market value of 5.363 billion, and the issuance price of 61.49 yuan is a bit expensive. Considering that the company's performance is good and the valuation is reasonable, it should still be possible to fight. It is recommended to apply for with caution. I plan to participate in the subscription!
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My personal remarks only represent personal opinions and do not constitute any investment basis. The stock market is risky. Be cautious when entering the market!
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