Jan 11, 2022 (China Knowledge) - Triductor Technology(Suzhou) (688259) to start trading on the Shanghai Stock Exchange's STAR Market Jan 12, tomorrow. The firm has issued 20.00 mln shares priced at RMB 66.6 per share raising RMB 1.33 bln. Its price-to-earnings ratio (PE) stands at 83.65. During subscription the IPO was 3,656 times oversubscribed.
Haitong Securities acts as the lead underwriter and sponsor for the IPO.
Triductor Technology (Suzhou) Inc. manufactures and distributes integrated circuit chips. The Company develops and sells power line carrier communication chips, communication core chips, power line communication chipsets, carrier access network chipsets, and other related products. Triductor Technology (Suzhou) markets its products worldwide.
In FY 2020, Triductor Technology(Suzhou) garnered a total revenue of RMB 210 mln, up 27% YoY. In terms of net income, it achieved RMB 68 mln, rising 44% YoY. In the first three quarters of 2021, the company reported revenue of RMB 343 mln, a YoY increase of 160%, and its net profits reached RMB 60 mln, up 108% YoY.
The company is in the electronics industry that is currently made of 252 counters in Shanghai and the Shezhen Stock Exchange with a total combined market capitalization of RMB 5,613 bln. The electronics industry’s index is up 20.93% year-to-date, ranking it the 13th place among all 29 broad industry groupings.
Foxconn Industrial Internet Co.,Ltd. (601138) takes up the top spot in terms of sales in the industry, reporting RMB 431.79 bln of sales in 2020, with a net profit of RMB 17.43 bln, at 12 times PE. The second largest is HNA Technology Co.,Ltd. (600751), a total revenue of RMB 336.69 bln. BOE Technology Group Co.,Ltd. (000725) ranked third. It garnered a total revenue of RMB 135.55 bln last year, and a net profit of RMB 5.04 bln, with 9 times PE.
The average industry’s PE for the same or similar stocks on Hong Kong Exchange (HKEx) and the U.S. stock markets for electronics is 35 times and 46 times, respectively. On a year-to-date basis, the industry’s index on the HKEx rises 0.25% and the U.S is up 29.39%.
There will be another 1 IPO debut tomorrow, Sicc Co., Ltd. (688234).
Since January, a total of 517 companies have listed on either Shanghai or Shenzhen Stock Exchange, most are mainly in the machinery equipment, electronics and pharmaceutical and biological industries.
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