Industry Stock Market: IPO Of Textile And Garment Enterprises In 2021

In 2021, China's capital market will pass the year of "establishment". In the past year, we have ushered in the establishment of Beijing stock exchange, the third national stock exchange. As a result, China's stock exchange has formed a pattern of dislocation development of the three major exchanges in Shanghai, Shenzhen and Beijing, and multi-level structure of capital market interconnection. At the same time, we have also achieved phased results of the pilot stock issuance registration system in the domestic capital market, and made great progress in continuously promoting the further establishment and improvement of the capital market laws and regulations, turning a new page in the deepening reform and steady development of China's capital market.

According to relevant statistics, in 2021, a total of 524 domestic enterprises have completed IPO in the three major capital markets of Shanghai, Shenzhen and Beijing. Compared with the previous year, the new listing increased by 32.32%. New IPO companies raised 532.718 billion yuan of capital, which reached a new record, an increase of 12.74% over the previous year.

As an important livelihood industry in China, textile industry has made great progress in accelerating industry finance cooperation, supporting and accelerating textile and garment enterprises to enter the domestic financial market at all levels, extensively absorbing social funds, improving corporate image and industry influence. According to statistics, the number of textile and garment enterprises listed on the Shanghai and Shenzhen Stock Exchange in the past 30 years is the largest, and the number of textile and garment enterprises listed in Shanghai and Shenzhen is the largest in the past 30 years. The number of newly listed textile and garment enterprises increased by 27.78% over the previous year. The total number of newly listed textile and garment enterprises in Shanghai, Shenzhen and Beijing stock markets accounted for 4.39%, which was 0.16 percentage points lower than that of the previous year; In 2021, the initial IPO fund-raising amount of textile and clothing enterprises in Shanghai, Shenzhen and Beijing reached 15.429 billion yuan, accounting for 2.90% of the total amount of A-share IPO in the whole year (1.25 percentage points lower than that of 4.15% in the previous year).

The new listed textile and garment enterprises in 2021 are characterized by a large number of entrepreneurs, but each listed financing amount is not very large. In recent years, the vast majority of outstanding textile and garment enterprises listed in the market are high-tech or technological innovation type small and medium-sized enterprises, and these enterprises choose to be listed in the small and medium-sized and entrepreneurial sectors.

1. The statistical results show that more than half of textile and garment enterprises in 2021 are listed on the Shenzhen Stock Exchange. In terms of plate, the gem of Shenzhen stock exchange is the most concentrated. A total of 8 enterprises have successfully IPO on the gem of Shenzhen Stock Exchange in the whole year. In addition, there are 7 textile and garment enterprises listed on the main board of Shanghai Stock Exchange, 4 listed on the main board of Shenzhen Stock Exchange, 3 listed on the science and Technology Innovation Board of Shanghai Stock Exchange, and 1 listed on the Beijing stock exchange.

From the perspective of subdivided professional fields, the number of newly listed enterprises of clothing and apparel is the largest, accounting for 30.43%; Textile (printing and dyeing), industrial textiles and chemical fiber industry accounted for 21.74%, 17.39% and 13.04% respectively, while household textiles and textile machinery accounted for 8.70%.

1. The major classification of 26 newly listed textile and garment enterprises in 2021 is as follows:

2. The listing situation of textile and garment enterprises from 2018 to 2021 is shown in Figure 1.

Figure 1

3. The proportion of newly listed enterprises in textile and garment industry in 2021 is shown in Figure 2

Figure 2

2. In terms of the initial fund-raising scale of 26 newly listed textile and garment enterprises in the whole year, Huali group (300979. SZ), Rongmei Co., Ltd. (301088. SZ) and Shanshui Technology (301190. SZ) ranked among the top three. There were 3 textile and garment enterprises with initial fund-raising of more than 1 billion yuan. The initial fund-raising amount of these three enterprises (6.780 billion yuan) accounted for 43.94%.

1. The details of the initial fund-raising of 26 newly listed textile and garment enterprises in 2021 are shown in Table 2

2. The IPO of textile and garment enterprises from 2018 to 2021 is shown in Figure 3 below

Figure 3

3. Regional distribution of IPO listing of textile and garment enterprises in 2021 (as shown in Figure 3 and table 3). Zhejiang province accounted for 47.83% of the total number of IPOs of textile and garment enterprises in the year. Jiangsu Province, Guangdong Province, Beijing city and Anhui Province are two, belonging to the second camp. There are also 1 listed in Shandong Province, Jilin Province and Jiangxi Province.

1. Regional distribution of IPO listing of textile and garment enterprises in 2021

Figure 4

2. List of regional distribution of IPO listing of textile and garment enterprises in 2022 (Table 3)

4. Market reaction and performance of new listed textile and garment enterprises on the first day of 2021

The market reaction and overall performance of 23 newly listed textile and garment enterprises on the first listing day in 2021 are very good. According to the relevant statistics, the average market valuation (P / E) on the first day of listing was 39.13, with a median of 31.98. Judging from the valuation directly reflected by the secondary market, the industrial textile enterprises with high technology content and wide application or high added value are generally sought after by the market; On the first day of listing, the stock price showed excellent performance compared with the IPO price, with an average of 82.07%; The total transaction volume on the first day of listing was 14.490 billion yuan; On the first day of listing, the average growth rate was 126.78%, and 10 companies increased more than 100%. Henghui security (300952. SZ), Honghua digital technology (688789. SH) and wanshili (301066. SZ) ranked the top three with 456.74%, 446.57% and 285.50% respectively.

1. Market reaction and performance of newly listed textile and garment enterprises in 2021 (attached table 1)

2. Market reaction and performance of newly listed textile and garment enterprises in 2021 (attached table 2)