Sep 11, 2020 (China Knowledge) - Hangzhou Haoyue Personal Care (605009) to start trading on the Shanghai Stock Exchange - Main Board today, at a public offering price of RMB 62.26 per share, raising RMB 1.66 bln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 21.58.
Ping An Securities acted as the lead underwriter and sponsor for the IPO.
Earlier, Hangzhou Haoyue Personal Care said its IPO was 4,198 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. We expect the IPO to hit limit of 44% increment in its first day of listing. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.
Hangzhou Haoyue Personal Care Co Ltd is a company engaged in research and development, production and sales of personal hygiene care products. The Company sells its products through original design manufacture (ODM) model. Its products are comprised of baby hygiene products, such as baby diapers; adult incontinence products, such as adult diapers and nursing pads; feminine hygiene products, such as menstrual pants and sanitary napkins; and non-absorbent hygiene products, such as wet wipes. The Company sells its products to both domestic and international markets, including South Korea, India, Pakistan, Belarus and so on.
In financial year 2019, Hangzhou Haoyue Personal Care garnered a total revenue of RMB 1953.38 bln, up 35% YoY. In terms of net income, it achieved RMB 366 mln, up 71% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 63.66% and 29.04% respectively, earning per share (EPS) of 3.94 RMB.
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