The first selected layer intention transfer company is here

On the evening of August 11, Guandian Defense announced that the board of directors of the company considered and adopted the proposal on the company’s application for listing on the science and Innovation Board of Shanghai Stock Exchange on August 11.

Source: company announcement

According to the requirements of the relevant rules of the CSRC, the exchange and the national stock transfer company, Guandian defense is actively promoting the board transfer work. The recommendation institutions, accounting firms and law firms have started the due diligence and preparation of application materials for the board transfer, and the company will report to the exchange after the relevant work is completed.

Since the listing of the selected layer, the stock price of Guandian defense has risen 63%. As of the closing on August 11, Guandian defense reported 14.69 yuan / share, with a total market value of 3.49 billion yuan.

Source: wind

Peng RuoHeng, an analyst at Guosen Securities, pointed out in the Research Report on August 10 that the potential reasonable valuation after the listing of Guandian defense board is 20.52-21.62 yuan / share, which has 48% – 56% premium space relative to the current price of the company.

Guandian defense takes the lead

Guandian defense, from Beijing, is a leading UAV service provider in China and the earliest enterprise engaged in UAV drug control product R & D and service industrialization in China. The company’s main business and main revenue sources are UAV flight services and data processing, and the R & D, production and sales of UAV Systems and intelligent defense equipment.

According to the announcement, Guandian defense plans to transfer to the science and innovation board with “standard 1”, that is, “the estimated market value is not less than RMB 1 billion, the net profit in the last two years is positive and the cumulative net profit is not less than RMB 50 million, or the estimated market value is not less than RMB 1 billion, the net profit in the last year is positive and the operating revenue is not less than RMB 100 million”.

Source: company announcement

In terms of profit, the net profit of Guandian defense in the last two years (excluding the lower one) was 53.4608 million yuan and 41.7042 million yuan respectively, totaling 95.1650 million yuan.

In terms of market value, Guandian Defense said that the calculation criteria of market value refer to 20 trading days, 60 trading days and 120 trading days (excluding stock suspension days) before the date when the company submits the application for listing on the board of directors. Therefore, as of the date when the board of Directors considers matters related to listing on the board of directors, it is impossible to judge whether the market value of the company’s shares meets the conditions for listing on the board of directors.

Guandian Defense said that the company is in line with the positioning of the science and innovation board and the national development strategy. It has independent core technology and outstanding scientific and technological innovation ability. It mainly relies on its own core technology to carry out production and operation. It has a stable business model, high market recognition, good social image and strong growth. The company further introduces from four dimensions:

First, the R & D investment of the company in the last three years was 9.1978 million yuan, 17.5801 million yuan and 2010.59 million yuan respectively, and the proportion of R & D investment in operating revenue was 8.80%, 12.05% and 11.18% respectively;

Second, the proportion of R & D personnel in the total number of employees in that year was 18.8%;

Third, the company has 13 invention patents that form the main business income;

Fourth, the company’s main business income from 2018 to 2020 was 104.5769 million yuan, 145.9138 million yuan and 179.7682 million yuan respectively, with a compound growth rate of 31.11% in recent three years.

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