Analysis of Jin Lang Bond Issuance Value
At the time of listing, the discounted value is 1 13.77, and the premium rate is-12. 1 1%, and the lower the better.
Maturity price of convertible bonds:100 * (0.003+0.004+0.015+0.02)+113 =1/kloc-.
According to the rating of AA- convertible bonds, the corresponding pure debt price is 80.62 yuan.
It is expected that 142 yuan will be listed at a premium of 25%. Opening price capped 130 yuan, the highest price at 04: 57 143 yuan.
Jinlang Technology Co., Ltd., based on the new energy industry, is a high-tech enterprise specializing in the research, development, production, sales and service of inverters for the core equipment series of photovoltaic power generation systems. It is the first A-share listed company whose main business is group series inverters, and the first inverter company in the world to obtain the reliability test report of PVEL, a third-party authority.
The company has formulated two national standards in the name of the first drafting unit, and is one of the important makers and participants of the industrial standards for photovoltaic series inverters. With the blessing of leading technology and the diligent pursuit of product quality, Jin Lang Science and Technology has achieved rapid growth in revenue and profits for many years. Use the power of science and technology to promote clean energy to become the main energy source in the world.
Based on the 2002 1 3 quarterly report and its 21quick report, the revenue was 2.304 billion, up 70.52% year-on-year; The net profit was 363 million, up 72.71%year-on-year; ROE (return on net assets): 17.88% high; PB (price to book ratio) is 25.12; PE (dynamic price-earnings ratio):11low.
At present, the company's price-earnings ratio (TTM) is 1 14x. According to the performance forecast data, the price-earnings ratio (202 1E) is about 108.5 times, and the overall valuation is also higher than that of sunshine power supply. The total market value is 53.7 billion yuan, with free circulation of 34.68%. There will be a round of lifting the ban at the end of March this year. As one of the domestic photovoltaic inverter head enterprises, the institutional attention is not low, and the fund held about 6% in the fourth quarter. The volatility of recent 180 days is 82.2%, and the overall elasticity is good. In the near future, the previous oscillation range has been generally maintained, but there is still pressure above, and the decline in turnover rate is limited.