Table_MainInfo/2023 03 07 Table_InvestInfo Table_QuoteInfo-21.22%-16.81%-12.40%-7.99%-3.58%0.82%2022/2 2022/5 2022/8 2022/11 Table_ReportInfo 2023.02.11 2023.02.02 2023.01.05 Table_AuthorInfo:Tel:(010)50949926 Email:S0850515040002:Tel:(021)23219634 Email:S0850516060001:Tel:(021)23154171 Email:2022 Table_Summary 2022 10030 11%IPO 2022 29%2022 1 2022 10030 11%2022 12 2022 123 2021 164 25%2 2022 1.54 16%270%3 IPO 2022 35.7 18%2022 428 IPO 5869+8%2022 13.7 2021 10.4 32%4 2022 2022 7229 20%615.26 25%5 2022 10.45 6.18%ABS-16%-10%-5%-35%6 2022 300 21.63%2021 5.20%2022 29.37%2021 12.02%2022 15.13%2021 4.80%A 18.66%2021 9.17%2022 0.18%2021 2.28%-29%-30%2022 2023 2 27 27 25 2022 2022-29%-30%2022 2022 6.4 60%2021 50%IPO 2022 IPO TOP5 58%3+12%2023+12%7%15%5%15%25%2023 3 1 1.0 x 2023E P/B II PB 1.3 2 1.2022.5 1.1 10030 11%.5 1.2 16%20%.5 1.3 IPO 6%.5 1.4.7 2.2022 30%.7 2.1 2022 30%31%.7 2.2.8 3.2023+12%.10 3.1.10 3.2 2023+12%.11 ZXDWyRnQoNnMtNsRtOrOoP8OaO7NmOoOnPoNeRnNoNiNoOqPbRrQrMuOoMqPwMqMrM 3 1 2020-2022.5 2.5 3 2020.5 4%.5 5 2013-2022 IPO.6 6 2015-2022 IPO.6 7 2015-2022.6 8 2016-2022.7 9 IPO 2022 12 31.10 10 2013-2022 IPO.11 11 2012-2022Q3.11 12 2022Q1-3 top20.11 13 II PB 2023/3/1.13 4 1.7 2 2022.8 3 2022().9 4 2022 2021.10 5.12 6 2023 3 1.14 5 1.2022 1.1 10030 11%2022 11%2022 10030 11%2015 4 2022 2022 123 2021 164 25%1 2020-2022 02000400060008000100001200014000160001 2 3 4 5 6 7 8 9 10 11 12 2020 2021 2022 Wind 2 0501001502002503000500010000150002000025000 2019 2 22 2019 2 1.2 16%20%16%2022 1.54 16%1.44 15.6%20%959 2022 270%2021 280%10 3 2020 0.002,000.004,000.006,000.008,000.0010,000.0012,000.0014,000.0016,000.0018,000.0020,000.002020-012020-032020-052020-072020-092020-112021-012021-032021-052021-072021-092021-112022-012022-032022-052022-072022-092022-11 Wind 4%200.00220.00240.00260.00280.00300.00320.00 Wind 1.3 IPO 6%IPO 2022 IPO 35.7 2021 43.7 IPO 18%2022 6 428 IPO 5869+8%2022 13.7 2021 10.4 32%2022 IPO 4.9%2021 5.4%2022 IPO 80%2017 10 IPO 19 IPO IPO 2022 2021 Wind 2022 594 526 88.6%2021 88.2%5 2013-2022 IPO 0100200300400500600010002000300040005000600070002013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Wind 6 2015-2022 IPO 0%5%10%15%20%25%30%35%2015 2016 2017 2018 2019 2020 2021 2022 Wind 2022 Wind 2022 7229 20%615.26 25%7 2015-2022 0200040006000800010000120001400016000180002015 2016 2017 2018 2019 2020 2021 2022增发 配股 优先股 可转债 可交换债 Wind 2022 10.45 6.18%ABS-16%-10%-5%-35%7 8 2016-2022-20%-10%0%10%20%30%40%50%60%70%80%0200004000060000800001000001200002016 2017 2018 2019 2020 2021 2022()(%,)Wind 1.4 2022 300 21.63%2021 5.20%2022 29.37%2021 12.02%2022 15.13%2021 4.80%A 18.66%2021 9.17%2022 0.18%2021 2.28%1 300 A 2020 27.21%64.96%13.87%-0.16%25.62%2021-5.20%12.02%4.80%2.28%9.17%2022-21.63%-29.37%-15.13%0.18%-18.66%Wind 2.2022 29%2.1 2022 29%30%2022-29%-30%2022 2023 2 27 27 25 2022 2022-29%-30%2022 8 2 2022 营业收入 净利润 2022E 同比增速 2022E 同比增速 2022Q4 同比增速 中 信 证券 655.3-14%211.2-9%-17%国 泰 君安 356.9-17%115.1-23%-9%华 泰 证券 316.0-17%100.0-25%-5%中 国 银河 370.0 3%95.0-9%1%中 金 公司 271.0-10%90.5-16%-9%招 商 证券 236.5-20%89.5-23%-15%广 发 证券 240.0-30%68.0-37%-29%申 万 宏源 2735-71%-63%东 方 证券 154.9-36%27.2-49%-32%兴 业 证券 110.0-42%27.0-43%-25%方 正 证券 77.8-10%21.5 18%浙 商 证券 158.9-3%18.2-17%10%财 通 证券 50.6-21%17.7-31%-29%东 吴 证券 97.5 5%17.5-27%6%国 元 证券 53.6-12%17.2-10%-4%国 金 证券 58.8-18%15.1-35%-12%华 安 证券 11.8-17%-51%长 城 证券 810-55%-45%+5%东 兴 证券 56-73%-67%-99%华 西 证券 4.25.2-74%-68%-71%-22%西 部 证券 45-71%-66%第 一 创业 26.0-20%4.5-40%-9%华 创 阳安 3.54.2-64%-57%-64%-48%西 南 证券 34-76%-64%-45%29%财 达 证券 2.73.2-60%-53%国 海 证券 36.2-30%2.5-67%240%中 原 证券 1.0-80%-114%红 塔 证券 0.3-98%-99%湘 财 股份-4-3 太平洋-5-4 东 莞 证券（锦 龙 股份）23.3-15%8.2-13%五 矿 证券（五 矿 资本）3.6-14%安 信 证券（国 投 资本）26.1-39%中 航 证券（中 航 产融）11.7-35%2.5-63%国 盛 证券（国 盛 金控）0.9-76%湘 财 证券（湘 财 股份）1.5-79%英 大 证券（国 网 英大）0.7-80%Wind/2.2 2022 63837 60%2021 50%IPO 2022 IPO TOP5 58%3 9 3 2022()合计 首发 增发（主承销）增发（财务顾问）配股 可转债 债券承销 机构名称 金额 金额 市场份额 金额 市场份额 金额 市场份额 金额 市场份额 金额 市场份额 金额 市场份额 18941 1260 24%1346 22%496 28%83 13%366 17%15758 15%13824 557 11%706 12%113 6%397 18%12448 12%11109 529 10%1147 19%110 17%107 5%9188 9%11020 309 6%544 9%548 31%12 2%138 6%9607 9%8942 314 6%271 4%149 7%8124 8%3712 102 2%53 1%32 0%12 1%3525 3%3759 352 7%139 2%28 1%3267 3%3557 75 1%57 1%19 1%44 7%32 1%3361 3%3184 101 2%93 2%24 0%33 5%183 8%2933 3%2635 36 1%32 5%15 0%2540 2%3099 123 2%145 2%6 0%69 11%38 2%2756 3%2405 140 3%62 1%81 0%2200 2%1722 30 1%70 0%10 0%1542 1%2251 6 0%18 1%2245 2%1593 47 1%103 2%32 5%17 1%1412 1%1324 57 1%44 1%1224 1%1097 2 0%41 1%32 5%1022 1%1045 93 2%7 1%72 3%885 1%693 4 0%10 0%682 1%595 20 0%575 1%902 0 0%45 2%870 1%716 9 0%676 1%639 639 1%580 118 2%40 0%450 0%473 18 0%14 0%6 0%441 0%405 39 1%14 1%354 0%423 24 0%399 0%389 4 0%31 1%7 0%353 0%412 81 2%23 0%4 0%53 2%305 0%407 57 1%31 1%72 0%246 0%273 18 0%4 0%246 0%194 5 0%72 1%12 1%116 0%190 39 1%151 0%182 16 0%11 0%14 1%155 0%272 5 0%3 0%264 0%153 1 0%146 0%69 4 0%0 0%63 0%109 109 0%88 0 0%88 0%127 117 0%141 12 0%129 0%113 113 0%92 24 0%43 0%102 1 0%86 0%106442 4638 89%5111 84%1282 67%555 71%1872 79%94153 88%TOP5 63837 3011 58%4014 66%1252 67%375 53%1235 56%55126 51%2021 top5 55%58%78%36%69%48%Wind 10 9 IPO 2022 12 31 020406080100120140160180 Wind 4 2022 2021 2022 2021 IPO 通过率 并购重组通过率 配股通过率 IPO 通过率 并购重组通过率 配股通过率 中信证券 91%91%100%97%100%100%中信建投 93%100%0%90%71%华泰证券 96%100%100%85%70%100%广发证券 100%中金公司 88%100%100%93%100%100%招商证券 100%100%100%海通证券 97%93%国泰君安 82%100%73%100%光大证券 73%100%国信证券 85%75%Wind 3.2023+12%3.1 2023 2 17 5 6 10%IPO IPO 19 IPO 19-22 A IPO 203 434 524 428 2532 4793 5426 5869 IPO 40%11 70%10 2013-2022 IPO 0100200300400500600010002000300040005000600070002013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Wind 11 2012-2022Q3-40%-20%0%20%40%60%80%100%0100200300400500600700800 2019 483 30%2020 672 39%A+2022 12 2022Q1-3 top20 0%5%10%15%20%25%30%35%40%wind 3.2 2023+12%+12%2023+12%7%15%5%15%25%12 5(2021 2022E 2023E 悲观 2023E 中性 2023E 乐观 11207 10030 10000 11000 12000 26%-11%0%10%20%0.025%0.024%0.022%0.023%0.024%-8%-3%-8%-4%0%207 166 182 199 215 54%-20%10%20%30%1545 1327 1247 1423 1609 19%-14%-6%7%21%18178 16429 17500 20000 22500 IPO 5427 6127 7500 8000 8500 12751 10302 10000 12000 14000 351 388 508 504 581 IPO 326 368 488 480 553 26 21 20 24 28 111387 100000 94000 105000 116000 4399 5000 4000 5000 6000 34525 35000 30000 35000 40000 72462 60000 60000 65000 70000 233 304 262 306 350 116 116 104 116 150 700 808 874 926 1081 4%15%8%15%34%966 886 853 928 957 18%-8%-4%5%8%318 334 318 366 397 20%5%0%15%25%1475 885 797 1106 1239 5%-40%-10%25%40%20 100 100 100 100 5024 4340 4187 4849 5383 1911 1649 1591 1843 2046 21%-14%-4%12%24%2023 3 1 1.0 x 2023E P/B II PB 1.3 13 Table_PicPe 13 II PB 2023/3/1 0.002.004.006.008.0010.0012.0014.0016.0018.0020.002004-12-312005-04-222005-08-092005-11-242006-03-172006-07-042006-10-192007-02-012007-05-282007-09-052007-12-212008-04-112008-07-252008-11-122009-03-032009-06-172009-09-252010-01-142010-05-052010-08-182010-12-082011-03-282011-07-122011-10-282012-02-162012-06-042012-09-132012-12-312013-04-242013-08-122013-11-292014-03-192014-07-032014-10-212015-02-022015-05-222015-09-022015-12-222016-04-112016-07-252016-11-112017-03-012017-06-162017-09-262018-01-122018-05-072018-08-162018-12-042019-03-252019-07-102019-10-282020-02-142020-06-012020-09-112020-12-302021-04-202021-08-042021-11-232022-03-112022-06-292022-10-172023-02-02(+1)(-1)wind 14 6 2023 3 1 P/E P/B 2021 2022E 2023E 2021 2022E 2023E 20.65 3051.55 13.2 11.5 1.5 1.2 14.29 1271.87 8.5 8.6 0.9 0.8 12.60 1139.89 8.6 10.5 8.3 0.8 0.7 0.7 9.62 976.22 9.3 9.2 8.0 1.2 1.1 1.0 4.22 1056.69 11.2 30.5 12.8 1.1 16.33 1241.48 11.5 16.5 12.5 1.2 1.1 1.0 41.91 2075.72 18.8 22.6 18.9 2.7 2.2 2.1 26.78 2056.30 20.3 23.0 17.9 3.2 13.98 1222.73 10.4 13.6 10.6 1.2 1.1 1.1 10.20 865.81 16.1 18.9 1.5 1.1 9.66 923.75 9.2 14.0 11.0 1.2 6.43 552.70 11.7 18.1 13.1 1.3 1.0 1.0 15.64 728.97 20.7 18.3 1.4 1.1 10.32 402.94 18.2 21.9 17.2 1.7 1.6 1.5 6.97 487.80 14.7 19.7 15.3 0.9 0.9 0.9 7.04 354.53 13.0 16.0 11.7 1.0 5.66 312.44 31.5 1.4 6.97 575.42 19.9 1.8 8.70 353.82 15.0 23.0 17.3 1.4 1.1 1.0 6.85 159.85 21.0 1.1 9.36 350.83 25.6 1.7 7.71 299.02 14.0 20.2 15.0 1.4 1.1 1.0 7.05 405.64 16.1 13.8 1.0 0.9 8.59 359.89 16.8 1.0 3.49 308.96 24.9 1.0 8.27 2761.76 13.3 1.0 3.88 278.96 35.1 128.5 76.4 1.3 1.3 1.3 3.01 190.01 44.5 1.0 5.80 219.71 25.9 1.2 7.10 180.61 16.6 1.0 4.94 261.71 16.3 13.9 1.2 1.1 11.36 208.57 32.8 2.0 5.99 160.56 33.8 39.1 32.4 1.7 1.6 1.5 4.08 233.47 26.1 1.1 11.35 304.19 36.2 35.9 26.4 2.0 1.9 1.7 9.06 253.82 34.2 2.0 10.08 272.45 59.3 2.3 8.25 323.95 39.3 2.4 5.03 338.41 44.0 0.8 2.72 291.83 152.8 1.9 14.93 266.09 83.3 6.4 14.44 104.86(98.4)3.9 9.21 404.73 231.8 1.6 大券商平均 12.9 12.7 12.8 1.4 0.6 1.0 平均 27.4 20.4 16.6 1.6 0.8 0.9 wind 15 Table_Analysts Table_Reports,1.6 6 2.A 500 10%-10%10%-10%6 10%-10%10%-10%16 Table_PeopleInfo(021)23219403(021)23219404(021)23219658(021)23219747(0755)82780398(021)23219820(021)23219394(021)23154149(021)23219674(021)23154658(021)23219732(021)23219395(021)23219984(021)23219883(021)23212230(021)23154387(021)23212231(021)23154170 021-23219745(021)23219419(021)23185680(021)23219326(021)23219686(021)23219370(021)23219445(021)23154167(021)23219433(021)23154168(021)23219068(021)23219645(021)23219819(021)23219773 珮(021)23154121 喆(021)23154142(021)23154116 021-23219635(021)23212041(021)23154124 021-23154484(021)23219658(021)23154132(021)23219733 021-23154147(021)23219400(021)23154504(021)23219812(021)23214131(021)23219420(021)23154122 02123154123(021)23219434(021)23219387(021)23219946(021)23219953 02163411361(021)23219404(021)23154143(021)23154505(021)23219635(0755)82780398(021)23219808(010)68067998(021)23154120(010)56760096 86 10 56760096(021)23219671(010)68067998(021)23219164(021)23154017 021-23219807(021)23154145(021)23154398(021)23154113(021)23154141(021)23154125(021)23219415(021)23219399 021-23154126(010)58067907(021)23219104(021)23154120(021)23219774(021)23212208(021)23154392(021)23154394 02123219406(021)23219383(021)23219747(021)23219436(021)23154399 17(021)23154652 翀(021)23154139 02123219748(021)23154401(021)23219963(010)58067998(021)23219760(021)23212208(021)23219692(021)23219171(021)23154113(021)23154184(021)23219389(0755)82764281(021)23214397(021)23219431(021)23219392(021)23219392(021)23154174(021)23154174(021)23154137(0755)23617756(010)50949926 010-56760095(021)23154128(021)23219634(010)50949926 010-56760090(010)56760090(021)23154171(021)23219382(021)23219442(010)56760091(021)23219407(021)23154510(021)23219405(021)23212081(021)23154122(021)23154114 玥(021)23219814(021)23154119(021)23154659(021)23219391 劼 18515295560 18901961523 13718567611(010)58067998(021)23219402(021)23154172(021)23154171(021)23154019 晅 021-2321-4129(021)23154483(021)23154395(021)23219356(021)23154134(021)23219399(755)82900465(021)23219583 祎(021)23219768(021)23219244(021)23154382(021)23214390(021)23154146 18(0755)23607963(0755)82775962(0755)83253022(0755)83255933(0755)82775282(0755)23617160 0755-25597716(021)23219385(021)23219397(021)23219384(021)23219410(021)23154192 23214650 祎(021)23212268(021)23219373 祎(021)23219281(010)58067988 010-5806 7936(010)58067977(010)58067931 垚(010)58067851 689 9 021 23219000 021 23219392 前沿报告库是中国新经济产业咨询报告共享平台。行业范围涵盖新一代信息技术、5G、物联网、新能源、新材料、新消费、大健康、大数据、智能制造等新兴领域。为企事业单位、科研院所、投融资机构等提供研究和决策参考。扫一扫免费获取海量报告