首日44%漲停！多利科技登陸深主板，中一簽可賺1.36萬元
2月27日，滁州多利汽車科技股份有限公司（簡稱：多利科技）於深市主板上市，其發行定價61.87元/股，相對應的市盈率為22.99倍，募資淨額約20.27億元。
盤面上，N多利（001311.SZ）大漲44%封板，報89.09元/股，最新總市值約126億元。
多利科技是由成立於2010年的多利有限整體變更設立，發起人為曹達龍和鄧麗琴。截至發行前，公司的實際控制人為曹達龍，其直接持有公司63.21%的股權，曹達龍及其一致行動人（鄧麗琴、蔣建強、曹武、曹燕霞、鄧竹君）直接持有公司98.13%的股權。
（股權結構圖，招股書）
公司是一家專注於汽車衝壓零部件及相關模具的開發、生產與銷售的企業，主要產品為汽車衝壓零部件和衝壓模具，其中汽車衝壓零部件主要為白車身衝壓件，汽車衝壓模具主要用於配套生產汽車衝壓零部件。
2019年至2022年1-6月各報吿期，多利科技的營業收入分別為16.10億元、16.84億元、27.72億元和13.81億元，相應的歸母淨利潤分別為1.99億元、1.56億元、3.86億元和1.84億元，利潤水平存在一定的波動。
（合併利潤表主要數據，招股書）
按產品分類，公司的衝壓零部件產品收入佔主營業務收入的比例由2019年的89.28%上升至2022年上半年的99.70%；衝壓模具收入佔比則由10.72%降至0.30%。
按客户分類，公司的整車製造商客户收入佔比由62.56%上升至84.59%，零部件供應商客户收入佔比由37.44%降至15.41%。
值得注意的是，報吿期內，公司對特斯拉等大客户的依賴程度較高，前五大銷售客户佔比在80%左右，存在客户集中度高及大客户依賴的風險。
報吿期內，公司主營業務毛利率分別為24.04%、18.47%、19.63%和18.59%，剔除運雜費後主營業務毛利率為24.04%、19.26%、20.41%和19.36%，毛利率波動較大，略高於可比上市公司平均水平。
（主營業務毛利率與可比上市公司的對比情況，招股書）
多利科技表示，隨着下游新能源汽車銷量和滲透率的不斷提高，公司對新能源汽車客户特斯拉、理想汽車等的銷售收入也隨之增長。2022年全年公司實現營收33.55億元，相應的歸母淨利潤為4.45億元；預計2023年一季度營收較去年同期增長約為15.94%-28.14%，歸母淨利潤較去年同期增長約為10.32%-21.93%。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app！
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
