Dec 03, 2020 (China Knowledge) - Jiangsu Xiehe Electronic (605258) to start trading on the Shanghai Stock Exchange - Main Board today, at a public offering price of RMB 26.56 per share, raising RMB 584.32 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.
Minsheng Securities acted as the lead underwriter and sponsor for the IPO.
Earlier, Jiangsu Xiehe Electronic said its IPO was 4,091 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.
Jiangsu Xiehe Electronic Co Ltd is a China-based company that is mainly engaged in the research, development, production and sales of rigid flexible printed circuit boards, flexible printed circuit boards, as well as printed circuit board surface mount services (SMT). Its products can be divided into rigid circuit boards, flexible circuit boards and SMT businesses. Its products are mainly used in the fields such as automotive electronics and high-frequency communications. The Company conducts in the China market and to overseas markets.
In financial year 2019, Jiangsu Xiehe Electronic garnered a total revenue of RMB 542.38 mln, down 7% YoY. In terms of net income, it achieved RMB 128 mln, down 19% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 24.87% and 15.22% respectively, earning per share (EPS) of 1.65 RMB.
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