Markets· IPO

Suzhou Recodeal Interconnect System’s IPO to debut on SSE STAR Market

minutes 2021/07/21 09:36:14

Jul 21, 2021 (China Knowledge) - Suzhou Recodeal Interconnect System (688800) to start trading on the Shanghai Stock Exchange's STAR Market Jul 22, tomorrow. The firm has issued 27.00 mln shares priced at RMB 15.02 per share raising RMB 405.54 mln. Its price-to-earnings ratio (PE) stands at 24.49. During subscription the IPO was 3,914 times oversubscribed.

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

Suzhou Recodeal Interconnect System is a China-based company principally engaged in the research and development, production, sales and service of connector products. The Company's products include connection devices, connector components and connector modules. The Company's products are mainly used in mobile communications, new energy vehicles and industrial and other fields. The Company distributes its products both in the domestic market and to overseas markets.

In FY 2020, Suzhou Recodeal Interconnect System garnered a total revenue of RMB 610.39 mln, up 20% YoY. In terms of net income, it achieved RMB 72.52 mln, rising 83% YoY. In Q1 2021, the company reported revenue of RMB 148.15 mln, a YoY increase of 65%, and its net profits reached RMB 16.29 mln, up 81% YoY.

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