Nov 17, 2020 (China Knowledge) - Tes Touch Embedded Solutions (Xiamen) (003019) to start trading on the Shenzhen Stock Exchange - SME Board today, at a public offering price of RMB 23.58 per share, raising RMB 754.56 mln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 22.99.
Haitong Securities acted as the lead underwriter and sponsor for the IPO.
Earlier, Tes Touch Embedded Solutions (Xiamen) said its IPO was 4,580 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,814 times and the highest at 9,194 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.
TES Touch Embedded Solutions Xiamen Co Ltd is a China-based company that mainly provides overall solutions for commercial intelligent interactive display devices. The Company focuses on research, development, design, production and sales services of customized commercial intelligent interactive display devices. Its products mainly include intelligent interactive displays, intelligent interactive all-in-one machines and intelligent interactive display equipment components. Its products are used in terminal fields such as retail, finance, industrial automation, medical treatment, catering, express logistics, games and entertainment, transportation and public utilities. The Company conducts its businesses within the China market and to overseas markets such as the Americas, Europe and Asia.
In financial year 2019, Tes Touch Embedded Solutions (Xiamen) garnered a total revenue of RMB 1322.03 bln, up 3% YoY. In terms of net income, it achieved RMB 191 mln, up 24% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 33.31% and 19.75% respectively, earning per share (EPS) of 1.53 RMB.
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