Jun 16, 2021 (China Knowledge) - Hangzhou Coco Healthcare Products (301009) to start trading on the Shenzhen ChiNext Market June 17, tomorrow. The firm has issued 67.97 mln shares priced at RMB 12.54 per share raising RMB 852.3 mln. Its price-to-earnings ratio (PE) stands at 16.92. During subscription the IPO was 4,814 times oversubscribed.
Guotai Junan Securities acts as the lead underwriter and sponsor for the IPO.
Hangzhou Coco Healthcare Products’ main business is the design, research and development, production, and sales of disposable hygiene products. The company's main products include baby care, adult incontinence, and pet hygiene products.
In FY 2020, Hangzhou Coco garnered a total revenue of RMB 1.64 bln, up 39.3% YoY. In terms of net income, it achieved RMB 214 mln, up 144.6% YoY. In Q1 2021, the company reported revenue of RMB 332.7 mln, a YoY increase of 6.1%, and its net profits reached RMB 40.2 mln, up 15% YoY.
The funds raised from the IPO will be used to build smart factories, upgrade its technology R&D center, brand promotion, and to supplement its working capital.
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