China Knowledge is in the business of providing business solutions and products on China. Within the Group it has financial terminal, publishing, newswires, research, multimedia production and a wide range of consulting services offer to foreign businesses seeking opportunities in China.
Meter Instruments’ IPO debut on Shenzhen Stock Exchange today
2021/06/07 07:01:03

Jun 07, 2021 (China Knowledge) - Meter Instruments (301006) starts trading on the Shenzhen ChiNext Market today. The IPO is priced at RMB 14.42 per share to raise RMB 502.1 mln. Its initial listing shares accounts for 25% of total outstanding shares. The company’s initial price-to-earnings ratio (PE) stands at 12.61.  During subscription the IPO was 5,833 times oversubscribed.

China International Capital Corporation (CICC) acted as the lead underwriter and sponsor for the IPO.

Meter Instruments is a China-based company mainly engaged in the research, development, production and sales of intelligent ultrasonic water meters and heat meters. The intelligent ultrasonic water meter produced by the Company is an organic system combining software and hardware, covering three functional levels of data acquisition, data transmission and data application, which can be widely used in the fields of water trade settlement, municipal administration, firefighting and agricultural irrigation. The Company produces intelligent ultrasonic heat meter products including ultrasonic heat meter, intelligent control valve and intelligent balance valve products.

In financial year 2020, Meter Instruments garnered a total revenue of RMB 420.5 mln, up 34% YoY. In terms of net income, it achieved RMB 174.3 mln, up 38.6% YoY. In the latest quarter of 2021, the company reported revenue of RMB 64.39 mln, a YoY increase of 137.8%, and its net profits reached RMB 22.61 mln, up 130.5% YoY.

The funds raised from the IPO will be used to improve its ultrasonic metering instrument production base, research and development into smart metering instruments, marketing and technical service network construction, and supplementary working capital.

Copyright © 2018

Send feedback or comments to:

For more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today:

To access our page on Bloomberg, type CKFI