Pengpai News reporter Wang Qifan
Golden Dragon Fish "swelled" on the first day of its listing.
On October 15, Wilhai Kerry Golden Dragon Fish Grain and Oil Food Co., Ltd. (Golden Dragon Fish, 300999) logged on the Shenzhen Stock Exchange GEM . As soon as
opened, Jinlongyu's increase was as high as 90.51%, at 48.96 yuan per share, but then the increase fell rapidly, with the stock price as low as 39.51 yuan per share. However, there was a significant increase in the late trading, once rising by more than 140%, and finally closed to 117.90%, closing at 56 yuan per share, with a full-day turnover of 11.216 billion yuan and a market value of 303.6 billion yuan.
This means that the total market value of Jinlongyu ranks third in the GEM, with the top two being CATL (555.8 billion yuan) and Mindray Medical (451.8 billion yuan).
prospectus shows that Jinlongyu issued a total of 542 million shares in this IPO, with an issue price of 25.70 yuan per share, and a total of 13.87 billion yuan raised. After this issuance, the total share capital of Jinlongyu is 5.422 billion shares, of which nearly 357 million shares of are not sold and circulated without will be listed and traded from the date of listing.
Golden Dragon Fish is one of the largest agricultural products and processing enterprises in China, and it owns brands such as "Golden Dragon Fish", "Archid Flower", and "Xiangmanyuan". According to the group's official website, Golden Dragon Fish is a collective name for a series of grain, oil and food processing, sales and other businesses jointly invested by famous overseas Chinese Guo Henian and his nephew Guo Kongfeng.
Golden dragon fish is also known as the "No. 1" in the grain and oil industry. The prospectus shows that the company's revenue in 2019 exceeded 170 billion yuan, about 2 times that of Kweichow Moutai and 8.7 times that of Haitian Flavor Industry .
But it should be pointed out that although Jinlongyu's revenue in 2019 was twice that of Kweichow Moutai , its net profit was only 5.408 billion yuan, far lower than the latter's 41.206 billion yuan. Jinlongyu's net profit margin is only 3.17%, while Kweichow Moutai 's net profit margin is as high as 48.23%.
Previously, Jinlongyu expected revenue in the first three quarters of 2020 to be between 131 billion yuan and 137 billion yuan, a year-on-year increase of 5% to 10%; net profit attributable to shareholders of listed companies was 4 billion yuan to 4.6 billion yuan, a year-on-year increase of 15% to 20%.
Editor in charge: Ye Dongdong
