Zhitong Financial APP learned that on November 9, Yunzhongma (603130.SH) began to apply for an offering price of 19.72 yuan per share, with a ceiling of 14000 shares and a price-to-earnings ratio of 17.51 times, which belongs to the main board of the Shanghai Stock Exchange, with Citic Construction Investment as its exclusive sponsor.
Yunzhongma is the leading manufacturer of leather-based cloth in China, focusing on the research, development, production and sales of leather-based cloth, which is the basic material of synthetic leather. The company's leather-based cloth products are mainly sold to synthetic leather manufacturers, and are finally used in shoes, bags, furniture, decorative materials and other consumer goods.
Yunzhong Horse is a leading enterprise in the knitted leather base cloth industry. The production and marketing capacity of knitted leather base cloth is in the forefront of the industry and has a leading advantage in scale. In 2019 and 2020, the company's sales volume of knitted leather base cloth was 114300 tons and 96500 tons respectively, accounting for 16.68% and 15.97% of the market scale of the knitted leather base cloth industry, ranking first in the knitted leather base cloth industry. The company is customer demand-oriented, around the independent brand "Yunzhong Horse" deep leather cloth market, "Yunzhong Horse" brand leather cloth has been widely recognized in the industry, forming its own brand influence. With the increase of the company's production capacity, the market share will further increase in the future.
According to the prospectus, Yunzhong Ma is expected to have an increase in operating income from January to September 2022 compared with the same period last year, but its net profit has declined after deducting non-recurrent profits and losses, mainly due to the spread of COVID-19 epidemic in East China in the first half of 2022. Local management and control measures continue to strengthen, downstream market demand has declined, the company timely adjust sales strategy, appropriately reduce product premium prices to promote sales, and further expand market share Sales increased compared with the same period last year, overall operating income increased, but product gross profit declined, and net profit decreased after deducting non-recurring profit and loss.
The company has publicly issued 35 million RMB common shares to the public, accounting for 25% of the total share capital of the company after issuance. The net amount of the actual raised funds after deducting the issuance expenses will be used for the following items:
In terms of finance, in 2019,2020,2021 and the first half of 2022, the company realized operating income of 1.651 billion yuan, 1.13 billion yuan, 1.71 billion yuan and 962 million yuan respectively, and net profit of 92.3062 million yuan, 107 million yuan, 120 million yuan and 62.381 million yuan.