CAMCE issued 48 million shares through online pricing on June 5. The issue price was 7.4 yuan/share. 1. Number of shares issued: The total number of shares issued this time was 60 million shares, of which 48 million shares were issued through online pricing, accounting for the total number of shares issued this time.
80% of the quantity.
2. Issuance price: The issuance price is 7.4 yuan per share, and the corresponding issuance price-to-earnings ratio is: (1) 19.83 times (earnings per share are based on the lower net profit before and after deducting non-recurring gains and losses audited by an accounting firm in 2005)
Calculated by dividing by the total share capital after this issuance); (2) 13.57 times (earnings per share is calculated based on the lower net profit before and after deducting non-recurring gains and losses audited by an accounting firm in 2005 divided by the total share capital before this issuance)
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3. Subscription time: June 5, 2006 (T-day), during the normal trading hours of the Shenzhen Stock Exchange (9:30-11:30, 13:00-15:00).
If major emergencies or force majeure factors affect this issuance, the issuance will be handled according to the notification on the day of subscription.
4. Issuance location: All securities trading outlets across the country that are connected to the Shenzhen Stock Exchange trading system.
5. Issuance target: investors holding securities accounts of China Securities Clearing Company Shenzhen Branch (except those prohibited from purchasing by national laws and regulations).
6. The subscription abbreviation is: "CAMCE International"; the subscription code is "002051".
○ Dedication, integrity, perseverance and innovation—CAMCE Engineering Co., Ltd. CAMCE Engineering Co., Ltd. (hereinafter referred to as "CAMCE") is mainly engaged in international engineering contracting business.
The business scope is: contracting various overseas projects and domestic international bidding projects; exporting equipment and materials required for the above overseas projects; dispatching labor personnel (excluding seafarers) required for overseas projects, production and service industries; operating and acting as an agent for various types of projects.
Import and export business of goods and technologies, except for goods and technologies that are restricted by the state or prohibited from import and export; engage in processing of imported materials and "three-to-one" business; engage in counter trade and re-export trade.
CAMCE has rich experience in international project general contracting management. So far, it has completed dozens of large-scale turnkey projects and complete equipment import and export projects.
Its business scope covers countries in Southeast Asia, the Middle East, West Asia, Africa and South America, and its business areas include transportation, municipal construction, water conservancy projects, electric power engineering, building materials, food processing, light industry and textiles, telecommunications, petrochemicals, agricultural machinery and engineering
Equipment and other fields.
CAMCE has good government support and smooth financing channels, a profound cultural heritage, an efficient management team and an excellent workforce.
All employees of CAMCE will work hard to explore the international market, undertake complete sets of engineering projects, and create greater glory in order to achieve the goal of “strengthening CAMCE, repaying shareholders, and benefiting employees.”
As the first IPO company after the restart, CAMCE has attracted enough attention.
Should the first single issued in full circulation be enthusiastically sought after?
"Securities Market Weekly" conducted an in-depth analysis and tried to uncover the true value of CAMCE behind the hustle and bustle.
Re-understanding the role of the China Securities Regulatory Commission Under the new IPO mechanism, investors must pay more attention to investment risks.
Although the market has a positive attitude toward the resumption of IPOs, and CAMCE has received widespread attention, we hereby draw everyone's attention to the changing role of the China Securities Regulatory Commission.
Article 7 of the "Administrative Measures for the Initial Public Offering and Listing of Stocks" issued on May 17 states, "The China Securities Regulatory Commission's approval of the issuer's initial public offering of stocks does not indicate its investment value in the stock or the investor's
Make substantial judgments or guarantees on the returns. After the stocks are issued in accordance with the law, investors are responsible for the investment risks caused by changes in the issuer's operations and returns. "This means that the review by the China Securities Regulatory Commission is mainly procedural.
The China Securities Regulatory Commission has not set a price-to-earnings ratio standard for new stock issuances as it did before.
It is also reported that the China Securities Regulatory Commission has convened institutional investors such as securities firms and funds to hold an IPO inquiry preparation meeting, requiring institutional investors to provide their own pricing based on reasonable logic and not to speculate irrationally.
In this case, investors have to be more responsible for their own investment decisions, such as whether to participate in subscriptions, the level of bids, etc.
We believe that what investors should pay most attention to is the profitability prospects of IPO companies.
In theory, the value of a stock is actually the discounted value of the future cash flows it can bring to investors.
The refinancing management measures and IPO management measures recently issued by the China Securities Regulatory Commission have lowered the performance threshold for listed companies or companies to be listed to issue securities, but have increased the requirements for them to publish profit forecasts. This may be a reflection of this idea.
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Projects with raised funds are worrying. Unfortunately, CAMCE did not make a profit forecast in its prospectus, and only disclosed extremely limited information on the profit prospects of the projects to which the raised funds will be invested.
To conduct a financial evaluation of a project, the best way is to calculate the net present value (NPV) of the project, and the second best way is the internal rate of return (IRR). Both methods take into account the time value of funds, so they are superior.
on other indicators.