Jan 19, 2021 (China Knowledge) - Cwb Automotive Electronics (605005) to start trading on the Shanghai Stock Exchange - Main Board today, at a public offering price of RMB 6.38 per share, raising RMB 255.84 mln. Its initial listing shares account for 10% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 22.96.
Guotai Junan Securities acted as the lead underwriter and sponsor for the IPO.
Earlier, Cwb Automotive Electronics said its IPO was 2,885 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.
Hexing Automotive Electronics Co., Ltd. is a Chinese company mainly engaged in the R&D, production and sales of automotive electronic products and consumer electronic products. The company's main products include transmission management system components, steering system components, power management systems, automotive connectors, wiring harnesses and consumer electronics connectors. The company's products are sold in China's domestic and overseas markets.
In financial year 2019, Cwb Automotive Electronics garnered a total revenue of RMB 1177.49 bln, down 2% YoY. In terms of net income, it achieved RMB 150 mln, up 16% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 15.31% and 10.21% respectively, earning per share (EPS) of 0.36 RMB.
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