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Markets · Equity · IPO
Jiayuan Science and Technology’s IPO to debut on Shenzhen Stock Exchange
2022/01/14 03:24:49

Jan 14, 2022 (China Knowledge) - Jiayuan Science and Technology (301117) to start trading on the Shenzhen ChiNext Market Jan 17, next Monday. The firm has issued 23.07 mln shares priced at RMB 46.8 per share raising RMB 1.08 bln. Its price-to-earnings ratio (PE) stands at 82.01. During subscription the IPO was 6,327 times oversubscribed.

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

Jiayuan Science and Technology Co.,Ltd. operates as an information services and network information security comprehensive solutions provider. The Company provides services in national defense and military, medical health, government, and other related industries. Jiayuan Science and Technology offers services worldwide.

In FY 2020, Jiayuan Science and Technology garnered a total revenue of RMB 191 mln, up 45% YoY. In terms of net income, it achieved RMB 53 mln, rising 66% YoY. In the first three quarters of 2021, the company reported revenue of RMB 157 mln, a YoY increase of 60%, and its net profits reached RMB 45 mln, up 73% YoY.

The company is in the computer industry that is currently made of 296 counters in Shanghai and the Shezhen Stock Exchange with a total combined market capitalization of RMB 3,839 bln. The computer industry’s index is up 5.36% year-to-date, ranking it the 22nd place among all 29 broad industry groupings.

Digital China Group Co.,Ltd. (000034) takes up the top spot in terms of sales in the industry, reporting RMB 92.06 bln of sales in 2020, with a net profit of RMB 624 mln, at 38 times PE. The second largest is Hangzhou Hikvision Digital Technology Co.,Ltd. (002415), a total revenue of RMB 63.50 bln and a net profit of RMB 13.39 bln, at 28 times PE. Inspur Electronic Information Industry Co.,Ltd (000977) ranked third. It garnered a total revenue of RMB 63.04 bln last year, and a net profit of RMB 1.47 bln, with 22 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 computer is 29 times and 55 times, respectively. On a year-to-date basis, the industry’s index on the HKEx rises 7.46% and the U.S is up 24.74%.

There will be another 2 IPO debut next Monday, Bank of Lanzhou Co., Ltd. (001227) and Dezhou United Petroleum Technology Co.,Ltd. (301158).

Since January, a total of 521 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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