The core convertible bonds will be listed and traded on August 18.
Xinhai Technology (688595), the core convertible bond, closed at 55.06 yuan on the latest trading day (8 17), with a conversion price of 56.00 yuan and a conversion value of 98.32 yuan. The conversion value is higher.
company profile
Hisense Technology (Shenzhen) Co., Ltd. is a full signal chain integrated circuit design enterprise integrating sensing, calculation, control and connection. Pay attention to research and development; D and high-precision ADC, high-reliability MCU, measurement algorithm and AIoT one-stop solution design. Products and solutions are widely used in industrial measurement and control, communications and computers, lithium battery management, consumer electronics, automotive electronics, smart homes, smart meters, smart health and other fields.
Headquartered in Shenzhen, the company has subsidiaries in Hefei, Xi, Shanghai and Chengdu, and is a national high-tech enterprise. It was recognized as "Guangdong Internet of Things Chip Development and Application Engineering Technology Research Center" by Guangdong Science and Technology Department, and won the title of "Little Giant" of national professional innovation. There are reliability testing center, health measurement laboratory, perception laboratory and single chip microcomputer laboratory. Company research and development. One year; R&D investment exceeds 20%; D personnel account for nearly 70%, and the core members have more than 10 years of work experience. By the end of 20021,the company had applied for 694 patents and obtained 307 authorized patents, and the number of patents held was in the forefront among the listed companies in science and technology innovation board chip design.
At present, the market value of the company is 7.689 billion yuan, the P/E ratio is 77.23, the P/B ratio is 7.73, and the ROE is 0. 10%.
Main business scope
General business items are: design, development, sales and technical consultation of electronic products, software and integrated circuits, and domestic commercial and material supply and marketing industries (none of the above excludes franchised, controlled and monopolized goods); Engaged in import and export business (except for projects prohibited by laws, administrative regulations and decisions of the State Council and restricted projects that can be operated only after obtaining permission). The licensed items are: Internet information service; Production of stationery and equipment.
Main financial data
During the reporting period of the first quarter of 2022, the company achieved operating income of 65,438+048,930,282.07 yuan, up 43.76% year-on-year; The net profit attributable to shareholders of listed companies is 65,438+0,065,438+00,526.73 yuan; The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 487,965.97 yuan, down 95.75438+0% year-on-year.
The net profit attributable to shareholders of listed companies in the first quarter of 2022 was RMB 65,438+0,065,438+0.50, turning losses into profits. The net profit attributable to shareholders of listed companies in the first quarter of 2022 was 488,000 yuan, down 95.7438+0% compared with the same period of last year, mainly due to:
(1) In the first quarter of 2022, it was confirmed that the payment fee for restricted stock incentive shares was about 24.7738+0 million yuan;
(2) In order to accelerate research and development; Progress in industry, computer, automobile electronics, etc. , R& ampd investment increased by about 65,438+0,348, 300 yuan (mainly due to the new R&; D personnel salary, r&; D asset amortization, etc. ).
Fundraising purpose
Automotive MCU chip research and development and industrialization project; Replenish working capital.
Core technology stock price chart:
In the past six months, Xinhai Technology's share price has fallen by about 30%. Although the share price has risen by 45% from the stage low in the past four months, the overall valuation of the company is not too high, and there is little risk of a sharp correction in the short term.
According to the current market, when Xinhai convertible bonds are listed, it is expected that there will be a premium of 35%, and its estimated listing value is 132.73 yuan.
Hengzhuan 2 is listed and traded.
Etsu 2 will be listed and traded on August 18.
On August 17, the last trading day, Hengyi Petrochemical {000703} closed at 9.25 yuan, with a conversion price of 10.50 yuan and a conversion value of 88.09 yuan. The conversion value is low.
company profile
Yi Petrochemical is committed to developing into one of the leading petrochemical groups in China and even the world. Through the realization of resource sharing and industrial synergy, the comprehensive competitiveness has been comprehensively improved. At present, it has gradually formed a "Petrochemical+"multi-level three-dimensional industrial layout with the petrochemical industry chain driven by "polyester+nylon" as its core business, petrochemical finance and petrochemical trade as its growth business, and big data and intelligent manufacturing in chemical fiber industry as its emerging business.
The company's comprehensive competitive advantage has been in the forefront of the industry for many years. Its main products include purified terephthalic acid (PTA), and its production capacity has reached13.5 million tons. Caprolactam (CPL) production capacity is 300,000 tons; Differentiated products such as polyester chips, bottles, polyester pre-oriented yarns (POY), polyester stretch yarns (FDY), polyester stretch yarns (DTY) and staple fibers, with a total production capacity of 46.5438+10,000 tons. Polyester products are widely used and closely related to the needs of the national economy and people's livelihood. They are mainly used in textiles and clothing, household textiles and industrial applications. In the field of differentiated and high value-added products, the company's "Yitikang" antimony-free environmentally-friendly polyester chips and fibers, cationic polyester chips and fibers, ultra-high elastic fibers, rabbit hair fibers, profiled yarns, colored yarns, mother yarns, Yi Zhu yarns, elong yarns, colorful wing yarns and other differentiated products have begun to take shape.
In the future, the company will strive to achieve another leap with the help of Brunei PMB petrochemical project. This project is an integrated project of refining and chemical industry with crude oil and condensate oil as raw materials. It is a key construction project of the national "Belt and Road" and has high strategic significance. This is a key step for the company to achieve the strategic goal of international capacity cooperation and industrial integration, and will become a model of friendly cooperation between China and the United States.
The current market value of the company is 33.9 1 100 million, the price-earnings ratio is 65.438+0 1.56, the price-to-book ratio is 65.438+0.34, and the return on net assets is 2.79%.
Main business scope
General project: engaging in investment activities with its own funds; Import and export of goods; Sales of electronic components, electromechanical components and equipment; Sales of chemical products (excluding licensed chemical products); Sales of textiles and raw materials; Sales of synthetic materials; Metal ore sales; Sales of building materials; Sales of rare earth functional materials; Sales of metal materials; Sales of electronic products (except for projects subject to approval according to law, independent business activities shall be carried out according to law with business licenses).
Main financial data
During the reporting period of the first quarter of 2022, the company realized operating income of RMB 33,252,703,065,438+04.35, up by 7.63% year-on-year; The net profit attributable to shareholders of listed companies was 732,204,352.08 yuan, a year-on-year decrease of 39.36%; The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses is 670,677,786.49 yuan, which is 45. 17% lower than the same price.
Fundraising purpose
Technical transformation project of new functional fiber with an annual output of 500,000 tons; Annual output 165438+ 10,000 tons of new environmentally-friendly differentiated fiber project.
Hengyi Petrochemical's share price chart:
In the past six months, the share price of Hengyi Petrochemical has been in the process of shock adjustment. In the past four months, the stock price has risen by about 35% from the stage low. However, the overall share price has not changed much compared with half a year ago, and the company's valuation is not too high. There is little risk of a sharp adjustment in the short term.
According to the current market situation, Hengyizhuan 2 is expected to have a 40% premium when it goes public, and the estimated listing value is 123.33 yuan.
Convertible bond purchase
Rico convertible bonds will be open for subscription on August 18.
According to the published information, the bond grade of Ricco convertible bonds is A+, which is good; The issuance scale is 430 million, which is relatively small. The downward correction condition of the stock price is "the closing price of the company's stock is lower than 85% of the current conversion price for at least 15 trading days in any continuous 30 trading days", and the downward correction condition is stricter; The resale clause is "in the last two interest-bearing years of the convertible bonds issued this time, the closing price of the company's shares in any continuous 30 trading days is lower than 70% of the current conversion price".
Zhengrui Huatai {688323} closed at 32.55 yuan on the latest trading day (August 17), with a conversion price of 30.98 yuan and a conversion value of 105.07 yuan. The conversion value is higher.
Ruike convertible bonds have a term of 6.000 years and can receive 1 14.50 yuan at maturity. Convertible bonds are calculated as pure bonds, assuming that the annual interest rate is 4%, the bond value of current convertible bonds is 90.49, and the value of pure bonds is low.
Fundraising purpose
Jiaxing high performance polyimide film project; Replenish liquidity and repay bank loans.
company profile
Shenzhen Ruihuatai Film Technology Co., Ltd. is a collection of R&; D, a global professional manufacturer of high-performance polyimide film integrating production, sales and service. The main product series include thermal control series PI films, electronic series PI films, electrical series PI films and functional PI films. , widely used in flexible printed circuit boards, consumer electronics, high-speed rail transit, wind power generation, 5G communication, flexible display, aerospace and other high-tech industries.
As a pioneer in the domestic high-performance polyimide film industry, the company completed the high-tech industrialization demonstration project of "1000mm width continuous biaxial stretching polyimide film production line" by the National Development and Reform Commission in 20 1000, and similar products reached the international advanced level, which greatly promoted the localization process of high-performance polyimide films. The company has mastered the complete core technologies such as formula, process and equipment for preparing high-performance polyimide films. Shenzhen base has nine highly automated production lines and is one of the richest suppliers of high-performance polyimide film products in the world.
At present, the market value of the company is 5.859 billion yuan, the price-earnings ratio is 1 13.87, the price-book ratio is 6.65, and the return on net assets is 1.38%.
The company's main business scope:
General business items are: development, production and business license. Business items include high-performance polyimide film of 4 microns to 200 microns, polyimide film for special environment of aerospace ships, high-frequency low-dielectric polyimide electronic basement film, long-life corona-resistant polyimide composite film for high-speed rail and wind power, low-temperature superconducting and nuclear special insulation polyimide film, optical transparent and white polyimide film and thermoplastic polyimide composite film. Technical solutions for polyimide materials for light-emitting semiconductor display, electronic shielding composite film materials, radio frequency and electronic tag composite film materials, thermal management substrates and protective materials, polyimide materials for microelectronic packaging, and polyimide diaphragm materials for high energy storage batteries; Design, development, production, management and technical services of high-performance polyimide film and its application preparation technology and equipment; Intelligent, sensing, quantum, graphene thin film new material technology and product research; Research and development of new material technologies and products such as flexible display, smart wear and thin-film solar energy.
Main financial data
During the first quarter of 2022, the company * * * realized an operating income of 80,787,848.89 yuan, a year-on-year increase of 0.66%; The net profit attributable to shareholders of listed companies was 65,438+02,2865,438+0,757.37 yuan, a decrease of 27.23% compared with the same period of last year; The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 1 1, 735,537.84 yuan, a decrease of 24.87% compared with the same period of last year.
Risk warning
The risk that technology and product development fall behind the market demand; With the expansion of new products, the risk of product structure changes; Market competition risk; The risk of fluctuation in operating performance; Safety production risk; The risk of raw material price fluctuation; The risk of changes in government subsidies; Risk of macroeconomic fluctuation; Risks of accounts receivable; Debt risk.
Huatai stock price chart:
Over the past six months, Ruihuatai's share price has been fluctuating and adjusting. In the past four months, the stock price has continuously increased by 80% from the stage low. There is a certain callback risk in the recent stock price.
According to the current market, Ruike convertible bonds are expected to have a premium of 30% at the time of listing, and its expected listing value is 136.59 yuan.
Rico convertible bonds are A+ convertible bonds. At present, convertible bonds have high value, positive stocks have good profitability and pure bonds have low value. It is recommended to buy at the top. /feed/9345d 688d 43 f 879492 DC 77 c 6 13 b4c 1 Fe 1 ad 53 a 74 . png？ token = 0257372232 c 778 a 0 FCA 5 E8 d 92 a 39 E8 a 2