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Kunshan Dongwei Technology’s IPO to debut on SSE STAR Market next Tuesday
2021/06/11 08:50:16

Jun 11, 2021 (China Knowledge) - Kunshan Dongwei Technology (688700) to start trading on the Shanghai Stock Exchange STAR Market on June 16, next Tuesday. The firm has issued 36.8 mln shares priced at RMB 9.41 per share raising RMB 346.3 mln. Its price-to-earnings ratio (PE) stands at 17.55. During subscription the IPO was 4,758 times oversubscribed.

Essence Securities acts as the lead underwriter and sponsor for the IPO.

Kunshan Dongwei Technology is a China-based company mainly engaged in the research, development, design, production and sales of precision electroplating equipment and its supporting equipment. The company's main products include vertical continuous electroplating equipment and horizontal surface treatment equipment used in the field of printed circuit board (PCB) electroplating, as well as gantry-type electroplating equipment and barrel plating equipment used in the field of general metal electroplating. It also distributes its products and services mainly within the domestic market.

In FY 2020, Kunshan Dongwei garnered a total revenue of RMB 554.5 mln, up 25.6% YoY. In terms of net income, it achieved RMB 87.8 mln, up 18.3% YoY. In Q1 2021, the company reported revenue of RMB 161.6 mln, a YoY increase of 173.9%, and its net profits reached RMB 26.7 mln, up 178.1% YoY.

The funds raised from the IPO will be used to invest in phase 1 of its PCB vertical continuous electroplating equipment expansion project, construction of a R&D Center, horizontal equipment industrialization project, and to supplement its working capital.

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