3. New Shares Can Be Paid Attention To Today'S "Beach Grab" GEM Shengyun Shares

On the last trading day before the Dragon Boat Festival (June 11), the GEM welcomed the issuance of three new shares: Great Wall Group (300089), Shengyun Shares (300090) and Jintongling (300091).

The average issue price of new shares on the GEM was only 21.9 yuan, a new low since the opening of the GEM. The insiders believe that Shengyun shares today have better subscription value.

In addition, investors should note that since Tangshan Port (781000) will make online subscription on the 18th, the capital for this round of new share subscription will overlap with it.

Average issue price hit a new low

According to the statistics from the Daily Economic News, the average issue price of the three new shares in this round was only 21.90 yuan. This is the lowest level since the GEM was opened. However, the average issue prices of the three rounds of GEM new shares previously issued reached 67.60 yuan, 47.24 yuan and 36.90 yuan respectively, showing an obvious downward trend.

Among the three new shares, Jintongling has the highest issue price, 28.20 yuan/share, corresponding to 48.62 times of the issue price earnings ratio; The issuance volume is 21 million shares, including 16.8 million shares issued online, and investors can subscribe up to 15000 shares. The company's main business is demand analysis, design and development of wind systems and manufacturing of related products. In addition, Great Wall Group plans to issue no more than 25 million shares to the public at a price of 20.50 yuan per share, with a P/E ratio of 47.67 times; Its online circulation is 20 million shares, with a maximum of 20000 shares available for subscription. The company is mainly engaged in the R&D, design, production and sales of creative art ceramics.

In this round of new shares, Shengyun shares were issued at the lowest price, only 17 yuan/share, with a P/E ratio of 49.56 times; The company plans to issue 32 million shares, including 25.6 million online shares, with a subscription limit of 20000 shares; The company's main business is the R&D, production and sales of transportation machinery products and environmental protection equipment products. As for the issue price of 17 yuan/share, the reporter reviewed the history of new stock issuance on the GEM and found that only 4 of the 86 stocks listed on the GEM were below this level.

Priority subscription of Shengyun Shares

Shengyun is one of the most noteworthy new shares in this round. In the offline placement, Shengyun shares were particularly popular, winning the round of new shares with an oversubscription multiple of 53.03 times, while Great Wall Group and Jintongling were only 35.20 times and 34.24 times.

Galaxy Securities estimated that Shengyun's fully diluted EPS from 2010 to 2012 would be 0.52 yuan, 0.65 yuan and 0.81 yuan, respectively, with net profit increasing by 27%, 25% and 25% year on year, and the share price on the first day of listing would be between 20.80 yuan and 23.40 yuan.

In addition, according to the prediction of Shenyin Wanguo, the online winning rate of three new shares on the GEM in this round is about 0.5%. Considering the fundamentals, issue price, winning rate, offline inquiry and other factors, it is recommended that investors give priority to purchase Shengyun shares.