Why is nova Yu not listed?

Following the failure to submit the prospectus for the first time, Emerging Chance Holdings Group Co., Ltd. (hereinafter referred to as "Emerging Chance Holdings") once again launched an impact on the IPO of Hong Kong stocks.

A few days ago, Xinxingyu Holdings updated the IPO application materials and resubmitted the prospectus. This is the second time the company has submitted an application for listing. Its first prospectus was submitted on February 9, 20021,and it expired on August 9 because it was not approved by HKEx.

"The industry financing environment is constantly tightening, forcing small and medium-sized housing enterprises to seek listing." Yu Xiaoyu, an analyst at Hanyi Zhiku, said that the successful listing of real estate enterprises will not only bring higher financing income, but also increase financing channels, which will help increase the credit of the capital market and reduce financing costs.

When the prospectus was first submitted, the higher liabilities and less optimistic cash flow of Xinxing Yu Holdings were questioned by the outside world. However, the company's updated prospectus shows that some financial data have improved.

According to the prospectus, in the first four months of 20 18, 20 19, 2020 and 202/kloc-0, the income of Xinxing Yu Holdings was 4.787 billion yuan, 4.865 billion yuan, 5.3265438 billion yuan and 2.328 billion yuan respectively; Gross profit is 65.438+20.4 million yuan, 65.438+47.5 million yuan, 65.438+70.8 million yuan and 65.438+83 million yuan respectively; The profits attributable to equity holders of the company were 499 million yuan, 492 million yuan, 800 million yuan and 582 million yuan respectively.

According to the first edition of the prospectus, the net cash flow generated by the operating activities of Xinxing Yu Holdings is 2011860,000 yuan and-1070,000 yuan respectively.

In this regard, Xinxingyu Holdings has improved the cash inflow by strengthening marketing work, and further strengthened the recovery of customers' money from property sales and pre-sales. As of April 30, 20021year, the net cash flow generated by its operating activities has turned positive, reaching 36 million yuan.

In terms of liabilities, in the first four months of 20 18, 20 19, 2020 and 202/kloc-0, the total current liabilities of Xinxing Yu Holdings were142.56 million yuan and 16 189 respectively.

Regarding the "three red lines" financing rules, Emerging Chance Holdings said, "We can all meet the three standards proposed by the People's Bank of China."

As of April 30th, 20021year, the asset-liability ratio of Xinxing Yu Holdings was about 69.3%; The asset-liability ratio is about 44.9%; The ratio of short-term cash loans divided by cash and bank balance (including restricted cash) is about 1.0 times.

It is reported that Xinxing Yu Holdings started in Changchun City, Jilin Province. According to the prospectus, as of June 30th, 20021year, the total land reserve of Xinxing Yu Holdings is about 3.94 million square meters, and * * * owns 40 property projects covering six provinces in China 10 cities, of which 27 projects are located in Changchun.

"It is expected that our business will be highly dependent on the performance of the real estate market, especially in major cities in Jilin Province." Xinxingyu Holdings said that it plans to expand its business to national hotspot urban agglomerations in the future. However, the expansion of new fields still needs a lot of funds and management resources.

According to Cree data, as of the end of July, 20021year, there were 10 real estate enterprises that had submitted their prospectuses on the Hong Kong Stock Exchange but had not yet been listed. Whether Xinxingyu Holdings can successfully break through the IPO of Hong Kong stocks this time is still unknown.