A-share subscription | Guangdong Jianke (301632.SZ) starts subscription. The company undertakes testing and inspection technical services for projects such as the Shenzhen Stock Exchange Operation Center.

On August 1, Guangdong Jianke (301632.SZ) started subscription, with an issue price of 6.56 yuan per share and a subscription limit of 14,500 shares. The price to earnings ratio is 26.48 times. It belongs to the Shenzhen Stock Exchange, and CMSC is its sponsor. The prospectus disclosed that Guangdong Jianke's main business is inspection and testing technical services in the field of construction engineering. The company has obtained qualifications from inspection and testing agencies for over 4,100 testing standards and controls 31,869 testing parameters. It covers multiple sectors such as construction, municipal, transportation, water conservancy, environmental protection, and safety production. It has qualifications for comprehensive grade A highway engineering and bridge tunnel engineering from the Ministry of Transportation, as well as Category A qualifications for five major categories of water conservancy engineering testing from the Ministry of Water Resources. It has obtained qualifications for 9 types of green product certifications and green building material product certifications for 48 products in five categories. It is one of the leading institutions in the country in terms of engineering inspection and testing and green building material certification qualifications and capabilities. In recent years, the company has undertaken inspection and testing technical services for major construction projects such as the Hong Kong-Zhuhai-Macao Bridge, Guangdong Science Center, Guangzhou Baiyun International Airport, Guangzhou International Financial Center, Shenzhen Ping An Financial Building, and the Shenzhen Stock Exchange Operations Center. Financially, in 2022, 2023, and 2024, the company achieved operating income of approximately 1.072 billion yuan, 1.154 billion yuan, and 1.197 billion yuan, respectively, and net profit of approximately 101 million yuan, 981.527 million yuan, and 1.05 billion yuan respectively during the same period. Guangdong Jianke pointed out the risk of a decline in return on net assets in the prospectus. The weighted average return on net assets attributable to the parent company's shareholders for the reporting periods was 5.34%, 5.16%, and 5.42%. After the initial public offering of shares, the net assets will significantly increase, and because it takes some time for the expected benefits of the capital raised projects to be realized, there is a risk of a certain percentage decrease in the return on net assets of the company in the short term.