May 20, 2020 (China Knowledge) - Guangzhou Haoyang Electronic (300833) to start trading on the Shenzhen ChiNext Market today, at a public offering price of RMB 52.09 per share, raising RMB 1.1 bln. Its initial listing shares account for 25.00% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 22.99.
Industrial Securities acted as the lead underwriter and sponsor for the IPO.
Earlier, Guangzhou Haoyang Electronic said its IPO was 3,931 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. We expect the IPO to hit limit of 44% increment in its first day of listing. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.
Guangzhou Haoyang Electronic Co Ltd is a China-based company mainly engaged in the research, development, manufacturing and sales of stage entertainment lighting equipment, architectural lighting equipment and truss products. Its products mainly include pattern lights, stained lights, beam lights, indoor wall washer lights, architectural wall washer lights, landscape lighting underground lights, bolt truss and screw truss, among others. It is also engaged in the sales of accessories and the provision of maintenance, movable property leasing and engineering services. The Company distributes its products in domestic and to overseas markets.
In financial year 2019, Guangzhou Haoyang Electronic garnered a total revenue of RMB 845.06 mln, up 23% YoY. In terms of net income, it achieved RMB 201.6 mln, up 70% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 34.44% and 28.08% respectively, earning per share (EPS) of 3.1 RMB.
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