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A股申购 | 苏州规划(301505.SZ)开启申购 应收账款占总资产比例超30%

A-share subscription | Suzhou Plan (301505.SZ) opens subscription accounts for accounts receivable accounting for more than 30% of total assets

Zhitong Finance ·  Jul 10, 2023 07:02

The Zhitong Finance App learned that on July 10, the Suzhou Plan (301505.SZ) opened a subscription. The issue price was 26.35 yuan/share, the subscription limit was 0.5 million shares, and the price-earnings ratio was 29.98 times. It belongs to the Shenzhen Stock Exchange's GEM, and Changjiang Securities is its sole sponsor.

According to the prospectus, Suzhou Planning is a well-known planning, design and engineering design enterprise in Jiangsu Province, committed to providing accurate, effective and operational urban planning and construction solutions to the government and various development and construction entities. The company's core business is planning and engineering design, and has further expanded into the field of general engineering contracting and management. Furthermore, based on the fields of planning, municipal administration, transportation, etc., the company's business scope has been further expanded to the smart city sector. The company has received more than 300 national, provincial and ministerial awards and honors, including the Jiangsu Excellent Engineering Design Award, and more than 600 municipal awards and honors.

The company has a number of business qualifications such as urban and rural planning grade A, construction engineering design grade A, municipal engineering (road, bridge) design grade A, municipal engineering (water supply, drainage) design grade B, landscape planning grade B, cultural relics protection survey design grade B, surveying and mapping grade B, municipal public works consulting grade B, etc. The qualification sequence is quite complete, and the business scope covers a full range of vertical services from subject research, planning and design to engineering design, including various fields of municipal administration, transportation, construction and landscape, and horizontal landscape Services to provide customers with more comprehensive and effective solutions.

Currently, the company has 70 patents, including 6 invention patents; 49 copyrights, including 40 computer software copyrights and 9 work copyrights.

On the financial side, in 2020, 2021 and 2022, the company achieved operating income of approximately $351 million, 387 million yuan, and $404 million respectively, while net profit attributable to owners of the parent company was 67.6556 million yuan, 73.077 million yuan, and 79.5163 million yuan respectively.

The company also indicated in its prospectus that it is at risk of repayment of accounts receivable. As of December 31, 2022, the book value of the company's accounts receivable was 244.3892 million yuan, accounting for 31.83% of total assets. Of these, the book value of accounts receivable over one year old was 59.9083 million yuan. If the company's accounts receivable cannot be recovered in a timely manner due to poor collection or downstream customers changing settlement methods or worsening financial conditions in the future, there will be a certain risk of bad debts.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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