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Equity· IPO

Nantong Guosheng Intelligence Technology Group’s IPO debut on SSE STAR Market today

CKN
minutes 2020/06/30 01:25:15
3,763
Nantong Guosheng Intelligence Technology Group, 688558

Jun 30, 2020 (China Knowledge) - Nantong Guosheng Intelligence Technology Group (688558) to start trading on the Shanghai STAR Market today, at a public offering price of RMB 17.37 per share, raising RMB 573.21 mln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 29.77.

Shengang Securities acted as the lead underwriter and sponsor for the IPO.

Earlier, Nantong Guosheng Intelligence Technology Group said its IPO was 2,591 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.

Nantong Guosheng Intelligence Technology Group Co Ltd is a company mainly engaged in manufacturing and sales of computer numerical control (CNC) machine tools. The Company's products include CNC machine tools, equipment components and intelligent automated production lines. The CNC machine tool products are mainly comprised of cutting machine tools, such as precision horizontal machining centers and large complex gantry machining centers. The products are used in biomedicine, aerospace, new energy equipment and other industries. The intelligent automated production line products include automation units and equipment, as well as full set production lines. The equipment component products include customized machine tool bodies, precision sheet weldment and castings.

In financial year 2019, Nantong Guosheng Intelligence Technology Group garnered a total revenue of RMB 664.68 mln, down 11% YoY. In terms of net income, it achieved RMB 85 mln, down 11% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 15.12% and 11.38% respectively, earning per share (EPS) of 0.85 RMB.

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