Interface News Reporter Zhang Yi

This week, the scale of A-share restricted shares rose sharply from the previous month to nearly 90 billion yuan.

Statistics show that a total of 54 companies' restricted shares were lifted this week, with a total of 3.855 billion shares, and a market value of 89.03 billion yuan based on the latest closing price (the same below).

This week, there are 16 companies with a market value of more than 1 billion yuan, and Shengmei Shanghai (688082. SH) is the only company that has lifted the ban on more than 10 billion yuan. In addition, there are Fujia shares (603219. SH), Canqin Technology (688182. SH) and Wanxiang Technology (301180.SZ) lifted the ban on market value of more than 5 billion yuan.

A total of 11 companies with more than 100 million shares have been lifted, and the top three are Huilv Ecology (001267. SZ), Fujia and Bank of Shanghai (601229. SH）。

Graphic: Interface News Securities Group

Semiconductor equipment maker Shengmei Shanghai was the largest company to lift the ban this week. According to the announcement, on November 18, the company had 358 million initial restricted shares listed and circulated, accounting for 82.01% of the total share capital, and the market value of 38.824 billion yuan was lifted, and the company's circulation increased by about 470%.

There is only one shareholder in the lifting of the ban, which is the controlling shareholder ACM RESEARCH, INC. (hereinafter referred to as ACMR in the United States).

At the performance briefing of the third quarterly report, the company responded to whether the controlling shareholder intends to reduce its holdings, saying, "ACMR attaches great importance to Shengmei Shanghai and is optimistic about the company's future development for a long time. ”

Shengmei Shanghai is an integrated circuit equipment enterprise introduced by the Shanghai Municipal Government. After three years of listing, the company's performance has grown well. In the first three quarters of 2024, the company achieved operating income of 3.977 billion yuan, a year-on-year increase of 44.62%; The net profit attributable to the parent company was 758 million yuan, a year-on-year increase of 12.72%.

This year, Shengmei Shanghai has continuously raised its annual performance range. First, in January, the company expected full-year 2024 operating income to be between 5 billion yuan and 5.8 billion yuan, and then in August, the company raised the forecast range to 5.3 billion yuan to 5.88 billion yuan. In November, the company again raised its performance range to 5.6 billion yuan.

It can be seen that the forecast of Shengmei Shanghai at the beginning of the year is relatively conservative, and the certainty of this year's performance is increasing. According to the announcement, based on the current progress of order execution in hand, product delivery plan and customer acceptance arrangement, the company has formed a clearer expectation of the number of equipment that can be delivered and accepted by customers by the end of the year.

Shengmei Shanghai said that as of September 30, the growth rate of the company's orders in hand was relatively stable, mainly because the delivery and verification speed of some orders this year was faster than that in 2023, which has been classified as confirmed sales, and confirmed sales increased by about 40%-50% year-on-year.

For the expectations of 2025, Shengmei Shanghai also expressed optimism. "Judging from the current order situation, the company maintains optimistic expectations for the follow-up revenue performance and is expected to continue to maintain rapid growth. The company will further expand its market share, and at the same time, furnace equipment may contribute a large revenue next year, becoming another growth point. ”

In the secondary market, the share price of Shengmei Shanghai fluctuated. The company's issue price is 85 yuan / share, and the latest closing price is 108.54 yuan / share, which is about 28% higher than the issue price. The company proposed a repurchase plan of 50 million yuan to 100 million yuan on August 8, but as of early November, the company did not buy a single share. At present, the stock price has exceeded the upper limit of the repurchase price of 90 yuan per share.

It is worth noting that CMS Shanghai is in the process of a private placement plan. The company plans to raise no more than 4.5 billion yuan for R&D and process test platform construction projects, high-end semiconductor equipment iterative R&D projects and replenishment of working capital.

Details of the lifting of the restricted shares of Shengmei Shanghai

Fujia shares, Canqin Technology and Wanxiang Technology are also listed for three years for the first time restricted shares lifted. Most of the chips for lifting the ban are concentrated in the hands of the company's controlling shareholders and persons acting in concert.

According to the plan, the vacuum cleaner company Fujia will have 406 million initial restricted shares lifted this week, accounting for 72.34% of the total share capital, or about 5.909 billion yuan in market value.

Fujia's revenue has declined slightly in the past two years, and its net profit has declined. Last year, the net profit attributable to the parent company fell by about 25%, and in the first three quarters of this year, it fell by about 25%. As of press time, the company has not disclosed the announcement of the lifting of the ban for the time being, and the specific release date is subject to the announcement.

The latest share price of Fujia shares has risen by more than 120% from the issue price.

Details of the lifting of restricted shares of Fujia shares

Communication equipment company Canqin Technology has performed poorly since its listing. This year, on the basis of last year's low base, the net profit attributable to the parent company in the first three quarters reached 50.0419 million yuan, a year-on-year increase of 68.23%. However, it is much weaker than before the listing. In 2019 and 2020, the company's profit has reached 745 million yuan and 266 million yuan.

Canqin Technology's latest closing price is nearly 80% higher than the issue price.

Details of the lifting of restricted shares of Canqin Technology

Consumer electronics company Wanxiang Technology has performed poorly in the past two years, with net profit falling by 86% last year and about 34% in the first three quarters of this year. Wanxiang Technology's stock price has been sluggish since its listing, but the latest closing price is still nearly 30% higher than the issue price.

Details of Wanxiang Technology's lifting of restricted shares

This week, there are 11 companies that account for more than 50% of the total share capital, namely Wanxiang Technology, Shengmei Shanghai, Canqin Technology, and Anxu Biotechnology (688075. SH), Zhejiang Liming (603048. SH), Zhengqiang shares (301119. SZ), Fujia shares (603219. SH), Yachuang Electronics (301099. SZ), Huaertai (001217. SZ), Huilv Ecology (001267. SZ) and Consy Communications (688653.SH). These companies are all released from the ban on restricted shares for the first time. Due to the large increase in the number of outstanding shares, the lifting of the ban on restricted shares of such companies has a relatively large impact on their stock prices.

From the perspective of the type of shares lifted, this week is dominated by the lifting of restricted shares of the original shareholders. Among them, there are 22 restricted shares of the original shareholders for the initial offering, 2 strategic placement shares for the initial offering, 1 restricted shares for the initial shareholders and 1 strategic placement share for the initial offering, 4 placing shares for private placement institutions, 11 restricted shares for equity incentives, and 14 general shares for equity incentives.

The three companies that have lifted the ban on the initial strategic placement shares are all companies on the Science and Technology Innovation Board. Yongsi Electronics(688362. SH), MayAir Technology (688376. SH) and Kangxi Communications have floating profits of about 28%, 52% and 28% respectively.

Among the private placement restricted shares, Robotec (300757. SZ) fixed increase shareholders with a substantial floating profit of about 750%; MicroPort Optoelectronics(430198. BJ) fixed an additional shareholder floating profit of about 290%. At the same time, Dongjiang Environmental Protection (002672. SZ) fixed increase shareholders have a floating loss of about 10%.