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最高150億鉅額定增嚇壞投資者,藍思科技股價直線跌停
格隆匯 04-13 14:18

4月13日,藍思科技(300433.SZ)直接以跌停價開盤,盤中一度翹板但無奈天量拋單壓頂,使股價很快直接被牢牢摁在跌停板上,截止發稿,股價報15.88元,成交6.73億元,賣盤封單接近28萬手。

(來源:wind)

消息面上,公司在4月10日晚發佈擬向不超過35名特定對象增發13億股募集不超過150億元的公告,募集資金將用於公司長沙(二)園的智能穿戴和觸控功能面板建設(12.79億元)、車載玻璃及大尺寸功能面板建設(42.52億元)、3D觸控功能面板和生產配套設施建設項目(53.78億元),工業互聯網產業應用項目(20.9億元)以及補充流動資金(20億元)。

(來源:wind)

而考慮到定增將一定程度稀釋當前股東權益,藍思科技同步發佈了其未來三年的股東回報規劃來安撫市場。據規劃,在符合分紅條件情況下,公司未來三年原則上每年進行一次現金分紅,每年以現金方式分配的利潤原則上不低於當年實現的可分配利潤的 15%,且最近三年公司以現金方式累計分配的利潤不少於最近三年實現的年均可分配利潤的30%。

值得注意的是,有市場分析,此次定增計劃,最壞的條件下,如果全部按頂格資金規模和定增股份數量增發成功的話,定增價格=150億元/13億股=11.54元/股,該價格相當於在4月10日收盤價17.64元大幅折價率將高達34.6%,相當於當日價格向下3個跌停板。

而根據定增有關的規定,發行價格不低於定價基準日前20個交易日公司A股股票均價的80%,目前藍思科技的定價基準日還未確定,最終很可能並沒有市場擔憂的最低到11.54元那麼低,在實際操作中也不可能會有如此高的折價,但最終的折價率可能也不會小。因此這成為了市場的普遍擔心,導致今日股價踩踏式跌停。

資料顯示,藍思科技是全球消費電子智能終端視窗與外觀防護功能部件,以及高端智能汽車行業的領航企業。公司的各類核心產品可廣泛用於5G、人工智能、工業互聯網、智慧城市、教育醫療、智能汽車、智能家居等領域。

有業內人士預測,上述募投項目的佈局,將有助於藍思科技在垂直整合和上下游整合方面,在智能製造領域實現較大飛躍,鞏固和提升公司在行業內地位的同時,亦將提高產品品質和國際競爭力,擴大企業營收規模,增強企業的盈利能力。

但另一方面,市場也有不少質疑的聲音認為,目前的全球疫情形勢越發嚴峻,海外國家的經濟活動正在陷入危機性萎縮,包括中國在內的全球經濟都存在很大的下行風險。目前對於科技製造業來説,絕大部分的企業都在面臨業務經營下滑的壓力,大家都在勒緊口袋過日子,現在並不是很好的擴張時期,而藍思科技一上來就是上百億的逆勢擴產能計劃,這種操作令人難以理解。

財務數據顯示,藍思科技一季度業績預告盈利8.79-8.84億元,同比大幅扭虧。

從2019年財報快報數據看,公司2019年營收303.15億元,同比僅增長9.37%,歸母淨利潤26.05億元,同比大幅扭虧。不過營業收入的持續個位數增長,一定程度上説明公司的業務經營並沒有如同市場所期望的那麼強勁。

(來源:wind)

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