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Equity · IPO
2020/07/31 02:20:39

Jul 31, 2020 (China Knowledge) - CHENGDU M&S ELECTRONICS TECHNOLOGY (688311) to start trading on the Shanghai STAR Market today, at a public offering price of RMB 41.58 per share, raising RMB 1.19 bln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 68.31.

Huatai United Securities acted as the lead underwriter and sponsor for the IPO.

Earlier, CHENGDU M&S ELECTRONICS TECHNOLOGY said its IPO was 3,106 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.

CHENGDU M&S ELECTRONICS TECHNOLOGY CO LTD is a China-based high-tech Company principally mainly engaged in the research and development, manufacturing and sales of satellite navigation and satellite communication terminal equipment, as well as providing technical services. The Company's main products include satellite navigation and satellite communications. The Company's products are mainly applied in military and civilian fields.

In financial year 2019, CHENGDU M&S ELECTRONICS TECHNOLOGY garnered a total revenue of RMB 283.07 mln, up 40% YoY. In terms of net income, it achieved RMB 73 mln, up 126% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 16.53% and 10.03% respectively, earning per share (EPS) of 0.86 RMB.

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