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Equity · IPO
Hangzhou Lion Electronics’s IPO debut on Shanghai Stock Exchange today
2020/09/11 01:50:58

Sep 11, 2020 (China Knowledge) - Hangzhou Lion Electronics (605358) to start trading on the Shanghai Stock Exchange - Main Board today, at a public offering price of RMB 4.92 per share, raising RMB 199.65 mln. Its initial listing shares account for 10% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 22.97.

Orient Securities, China Securities acted as the lead underwriter, and Orient Securities served as the sponsor for the IPO.

Earlier, Hangzhou Lion Electronics said its IPO was 3,128 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 Lion Electronics Co Ltd is a company mainly engaged in research, development, production and sales of semiconductor silicon wafers. The Company’s primary products are comprised of semiconductor silicon wafers, such as silicon polishing wafers and silicon epitaxial wafers; semiconductor discrete device chips, such as Schottky diode chips and metal-oxide-semiconductor field-effect transistor (MOSFET) chips; semiconductor discrete devices; and gallium arsenide chips. The Company's products are used in communications, computers, automotive industry, consumer electronics, photovoltaic industry, smart grid, medical electronics and other industries. It sells the products to both domestic and international markets, including Malaysia, Japan, and the United States.

In financial year 2019, Hangzhou Lion Electronics garnered a total revenue of RMB 1191.69 bln, down 3% YoY. In terms of net income, it achieved RMB 176 mln, down 26% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 8.69% and 3.5% respectively, earning per share (EPS) of 0.36 RMB.


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