1. CALB
The company is a leading new energy technology enterprise, mainly engaged in the design, R&D, production, and sales of power batteries and energy storage systems.
The company's offering price is between HKD 38~51 per share, with a minimum lot size of 100 shares and a minimum subscription amount of HKD 5,151.41. The market capitalization ranges from HKD 67.35 billion to HKD 90.39 billion, with an issuance volume of 266 million shares, belonging to the new energy materials industry, with an over-allotment option ('green shoe').
The sponsor is Huatai International. The sponsor’s past performance has been lackluster, with only a 25% rate of first-day gains for projects underwritten in the last two years. There are 15 cornerstone investors who, at the mid-price, collectively subscribed for USD 736 million, accounting for 47.08% of the total issuance, which is considered a decent proportion of cornerstone investment.
From 2019 to 2021, the company's revenues were CNY 1.734 billion, CNY 2.825 billion, and CNY 6.817 billion, respectively, reflecting a year-over-year increase of 141.28% in 2021. Net profits were -CNY 156 million, -CNY 18.328 million, and CNY 112 million, respectively, representing a year-over-year growth of 708.58% in net profit in 2021.
In Q1 2022, the company's revenue was CNY 3.897 billion, growing by 266.55% year over year, while net profit was CNY 58.017 million, decreasing by 3.55% year over year. The Q1 2022 net profit showed some decline.
Many pre-IPO investors subscribed at an average cost of CNY 41.67 per share, which represents a premium of 6... compared to the midpoint of this offering.