Zhejiang Publishing & Media’s IPO to debut on Shanghai Stock Exchange
Jul 22, 2021 (China Knowledge) - Zhejiang Publishing & Media (601921) to start trading on the Shanghai Stock Exchange's Main Board Jul 23, tomorrow. The firm has issued 222.22 mln shares priced at RMB 10.28 per share raising RMB 2.28 bln. Its price-to-earnings ratio (PE) stands at 22.98. During subscription the IPO was 1,427 times oversubscribed.
Caitong Securities acts as the lead underwriter and sponsor for the IPO.
Zhejiang Publishing & Media is a China-based company principally engaged in the publishing, distribution and printing of publications. The Company conducts its businesses through four segments. The Publishing segment is mainly engaged in the publishing business of teaching materials, general books, audiovisual products, periodicals and electronic publications. The Distribution segment is mainly engaged in the distribution of teaching materials, general books, audiovisual products, periodicals and electronic publications. The Printing Processing segment is mainly engaged in the printing of printed materials such as teaching materials, books and periodicals. Other segment is mainly engaged in the business of material trading, logistics services, information technology services, marketing services, education and training, accommodation and catering businesses.
In FY 2020, Zhejiang Publishing & Media garnered a total revenue of RMB 9.81 bln, down 4% YoY. In terms of net income, it achieved RMB 1151.98 mln, rising 5% YoY. In Q1 2021, the company reported revenue of RMB 2.06 bln, a YoY increase of 95%, and its net profits reached RMB 63.48 mln, up 166% YoY.
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