Equity· IPO

Zhongyan Technology’s IPO debut on Shenzhen Stock Exchange today

minutes 2020/10/13 01:47:52

Oct 13, 2020 (China Knowledge) - Zhongyan Technology (003001) to start trading on the Shenzhen Stock Exchange - SME Board today, at a public offering price of RMB 30.16 per share, raising RMB 732.7 mln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 22.99.

Zhong De Securities acted as the lead underwriter and sponsor for the IPO.

Earlier, Zhongyan Technology said its IPO was 4,876 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.

Zhongyan Technology Co Ltd is a company mainly engaged in providing geotechnical engineering services. The Company operates two major businesses which are geotechnical engineering and environmental restoration. The geotechnical engineering business covers survey, design, consulting, construction and monitoring. It is used in industrial and civil buildings, infrastructure, environment and energy conservation fields. The environmental restoration business provides technical consulting, restoration and construction services for soil and groundwater pollution.

In financial year 2019, Zhongyan Technology garnered a total revenue of RMB 1023.65 bln, up 35% YoY. In terms of net income, it achieved RMB 148 mln, up 52% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 28.62% and 13.74% respectively, earning per share (EPS) of 1.76 RMB.


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