Science and Technology Board purchase strategy-Sete New Materials (688398)

Science and Technology Board purchase strategy-Sete New Materials (688398)
This report reads: We suggest that the reference forecast range of Scitech New Materials is between 0% and 10%, corresponding to the price of 23.48 yuan-24.23 yuan, it is recommended to buy the first time. Abstract: Under the quotation strategy of small-scale accounts excluding the risk value by 1 cent because of the scale elimination, the market enters the stage of information efficiency and low-price games among institutions.It is expected that the central quotation of the actual quotation of 北京夜网 the majority of special materials of the science and technology board companies that will be inquired on January 16 will continue to fall to about 10%.Quotation quartiles will be considered in the 10% quartile. Taking into account, it is expected that the inquiry range of Sete New Materials on January 17 will be between 0% and 10%, corresponding to the price of 23.48 yuan-24.23 yuan. Sete New Materials is a new enterprise integrating R & D, production and sales of vacuum insulation panels. The company’s main business is the development, production and sales of vacuum insulation materials.In terms of operation, the company’s product structure is highly concentrated, and the vacuum insulation board’s revenue accounts for 99%.2%, mainly used in the field of refrigerators and freezers; the rapid development of the vacuum insulation panel market has driven the company’s CAGR of 65 in the past three years.63%, with a net profit CAGR of 142.93%, operating scale and performance maintained a high-speed growth trend; the company’s production model was customized, small batches, fast response, and established strategic cooperative relations with important downstream customers. LG, Samsung, and Haier, Midea, Hisense and other domestic customers.Technology + model + R & D technology industrialization to create a company’s competitive advantage. The company has deployed vacuum insulation panels in depth for more than ten years. It has mastered the core technology of core materials, crack resistance, adsorbent R & D, testing and production technology, and its technical level is in the leading position in the industry. It has established an integrated business model of vacuum insulation panel productionThe company’s sustainable development of core technologies and main patents expand its production and operation activities, which is reflected in the rapid expansion of the vacuum insulation panel industry. Based on the analysis of the above-mentioned main business and the description of Saite’s new material prospectus, considering the characteristics of product form, application areas, customer structure and liquidity, choose Resun Technology (603601.SH) and Red Polaroid (002165.SZ) is a comparable company. The forecast of the company’s 2019 P / E ratio is 28.70 times.Calculated based on its estimated total share capital of no more than 80 million shares after issuance, it is expected to rank 18th in the market after issuance.78-24.79 ppm, corresponding to an issue price range of 23.48-30.99 yuan, corresponding to the 18-year deduction after returning to the mother’s net profit range is 46-61 times, corresponding to the 19-year return to the mother’s net profit range is 25.04-33.05 times. Risk reminders: (1) As the actual quotation center gradually moves down, beware of 10% high-price rigidity to eliminate risks; (2) the company’s product structure and application areas are single, the customer concentration is high, and the results of product price fluctuations.