Equity· IPO

Xin Hee ’s IPO debut on Shenzhen Stock Exchange today

minutes 2020/10/26 01:58:15

Oct 26, 2020 (China Knowledge) - Xin Hee  (003016) to start trading on the Shenzhen Stock Exchange - SME Board today, at a public offering price of RMB 8.99 per share, raising RMB 958.93 mln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 16.2.

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

Earlier, Xin Hee  said its IPO was 2,282 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,814 times and the highest at 9,194 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.

Xin Hee Co Ltd is a China-based company mainly engaged in the design, production and sales of women's clothing. The Company mainly has seven independent brands. JORYA is positioned in the high-end mature women's clothing market. JORYA weekend products are British college casual style. ANMANI positioned a fashionable urban style. GIVH SHYH is mainly fashionable casual wear. The CAROLINE brand favors urban professional wear. The AIVEI brand is positioned in the fashion ladies' wear market. The QDA brand is positioned in the high-end consumer market. Its products include clothing and commodities, such as tops, windbreakers, down jackets, leather garments, sweaters, shirts, skirts, pants, belts, scarves, hats, headbands, necklaces, socks, gloves, sandals, leather shoes, casual shoes, boots, handbags, shoulder bags, wallets, etc. The Company has stores in multiple cities in China. The Company conducts its businesses within the China market and to overseas markets.

In financial year 2019, Xin Hee  garnered a total revenue of RMB 1965.21 bln, up 12% YoY. In terms of net income, it achieved RMB 329 mln, up 17% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 12.77% and 9.86% respectively, earning per share (EPS) of 0.76 RMB.

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