Guangdong Hongxing Industrial’s IPO to debut on Shenzhen Stock Exchange
Jul 22, 2021 (China Knowledge) - Guangdong Hongxing Industrial (001209) to start trading on the Shenzhen Stock Exchange's Main Board Jul 23, tomorrow. The firm has issued 23.49 mln shares priced at RMB 29.88 per share raising RMB 701.78 mln. Its price-to-earnings ratio (PE) stands at 21.7. During subscription the IPO was 5,396 times oversubscribed.
Shenwan Hongyuan Financing Services acts as the lead underwriter and sponsor for the IPO.
Guangdong Hongxing Industrial is a China-based company principally engaged in the research and development, design, production and sales of home apparel. The Company's main products include home apparel, underwear and other related products. The Company's main brands include FENTENG, MANZA, FENTENGCARE and QIANXIANYI. Its sales channels cover online direct sales, online agency sales, and offline distribution. The Company mainly distributes its products in the domestic market.
In FY 2020, Guangdong Hongxing Industrial garnered a total revenue of RMB 1.13 bln, up 12% YoY. In terms of net income, it achieved RMB 133.72 mln, rising 46% YoY. In Q1 2021, the company reported revenue of RMB 275.55 mln, a YoY increase of 21%, and its net profits reached RMB 32.97 mln, up 30% YoY.
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