Markets· IPO

Suzhou Shijing Environmental Technology’s IPO to debut on Shenzhen Stock Exchange

minutes 2021/07/21 09:34:59

Jul 21, 2021 (China Knowledge) - Suzhou Shijing Environmental Technology (301030) to start trading on the Shenzhen ChiNext Market Jul 22, tomorrow. The firm has issued 33.33 mln shares priced at RMB 6.1 per share raising RMB 203.33 mln. Its price-to-earnings ratio (PE) stands at 13.82. During subscription the IPO was 6,691 times oversubscribed.

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

Suzhou Shijing Environmental Technology is a China-based company principally engaged in the research and development, production and sales of environmental protection equipment. The Company operates its businesses through two segments. The Environmental Protection Equipment segment is mainly engaged in the research and development, production and sales of process pollution prevention and control equipment, terminal pollution control equipment and remote online monitoring systems. The Environmental Protection Value-added Service segment provides hosting operation and maintenance, third-party testing and environmental protection engineering services. The Company conducts its businesses both in the domestic market and overseas markets.

In FY 2020, Suzhou Shijing Environmental Technology garnered a total revenue of RMB 668.32 mln, down 9% YoY. In terms of net income, it achieved RMB 63.75 mln, falling 6% YoY. In Q1 2021, the company reported revenue of RMB 105.11 mln, a YoY increase of 8215%, and its net profits reached RMB 9.18 mln, up 155% YoY.

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