From January to August 2023, a total of 243 companies were successfully listed for the first time on the three major stock exchanges, with 173 of them oversubscribed, accounting for 71.19% of the total number of newly listed companies. Among them, there were 6 companies on the Beijing Stock Exchange, representing 11.11% of its newly listed companies; 15 companies on the Shenzhen Main Board, representing 88.24% of its newly listed companies; 81 companies on the Growth Enterprise Market (GEM), representing 90% of its newly listed companies; 21 companies on the Shanghai Main Board, representing 87.5% of its newly listed companies; and 50 companies on the STAR Market, representing 86.21% of its newly listed companies.
Looking at the subscription time of the oversubscribed companies, out of 10 oversubscribed companies, only 2 companies had their subscription time after March 15th. Both of these companies are from the GEM, namely Guangdong Huicheng Vacuum Technology Co., Ltd. (hereinafter referred to as "Huicheng Vacuum") and Keli Equipment.
According to the prospectus, Huicheng Vacuum is a supplier of vacuum application solutions mainly focusing on the research and development, production, sales, and technical services of vacuum coating equipment. Its main products or services are vacuum coating equipment and supporting process service support. For this initial public offering, Huicheng Vacuum originally planned to raise 235 million yuan, with 100 million yuan allocated to the research and development production base project, 75 million yuan to the vacuum coating research center project, and 60 million yuan to supplement working capital. At an issue price of 12.2 yuan, Huicheng Vacuum actually raised 305 million yuan, oversubscribed by 70 million yuan, with an oversubscription ratio of nearly 30%.
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Keli Equipment is mainly engaged in the research and development, production, and sales of automotive glass assembly components. Its main products include windshield installation components, side window glass lifting components, quarter window glass assembly components, and other automotive parts, widely used in the automotive glass field. For this initial public offering, Keli Equipment originally planned to raise 341 million yuan for projects such as the intelligent production construction of automotive glass assembly components and the construction of a new energy vehicle parts research and development center. At an issue price of 30 yuan, Keli Equipment actually raised 510 million yuan, oversubscribed by 169 million yuan, with an oversubscription ratio of nearly 50%.
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