Markets· Equity· IPO

Kunshan Supermix Printing Technology’s IPO to debut on Beijing Stock Exchange

minutes 2022/12/29 15:10:32

Dec 29, 2022 (China Knowledge) - Kunshan Supermix Printing Technology (872392) to start trading on the Beijing Stock Exchange Dec 30, tomorrow. The firm has issued 17.25 mln shares priced at RMB 8 per share raising RMB 138 mln. Its price-to-earnings ratio (PE) stands at 13.76. During subscription the IPO was 7 times oversubscribed.


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


Kunshan SuperMix Printing Technology Co.,Ltd prints and manufactures packing packaging products. The Company produces cartons, color boxes, product display boxes, and more. Kunshan SuperMix Printing Technology markets products around the world.


In FY 2021, Kunshan Supermix Printing Technology garnered a total revenue of RMB 390 mln, up 2% YoY. In terms of net income, it achieved RMB 36 mln, falling 17% YoY. In H1 2022, the company reported revenue of RMB 172 mln, a YoY decrease of 9%, and its net profits reached RMB 14 mln, down 17% YoY.


The company is in the light industry industry that is currently made of 153 counters in Shanghai and the Shezhen Stock Exchange with a total combined market capitalization of RMB 973 bln, industry’s average PE of 22 times. The light industry industry’s index is down 6.77% year-to-date, ranking it the 26th place among all 29 broad industry groupings.


Shandong Chenming Paper Holdings Limited (000488) takes up the top spot in terms of sales in the industry, reporting RMB 30.74 bln of sales in 2020, with a net profit of RMB 1.71 bln, at 120 times PE. The second largest is Shanying International Holdings Co., Ltd. (600567), a total revenue of RMB 24.97 bln and a net profit of RMB 1.38 bln, at 43 times PE. Shandong Sun Paper Co., Ltd. (002078) ranked third. It garnered a total revenue of RMB 21.59 bln last year, and a net profit of RMB 1.95 bln, with 13 times PE.


The average industry’s PE for the same or similar stocks on Hong Kong Exchange (HKEx) and the U.S. stock markets for light industry is 22 times and 21 times, respectively. On a year-to-date basis, the industry’s index on the HKEx rises 4.12% and the U.S is down 9.53%.


There will be another 4 IPO debut tomorrow, Guang Dong Hong Mimg Intelligent Joint Stock CO.,LTD. (301105), Ferrotec (An Hui) Technology Development Co.,Ltd (301297), Biwin Storage Technology Co., Ltd. (688525) and Qingdao Sunsong Co.,Ltd. (831195).


Since January, a total of 422 companies have listed on either Shanghai or Shenzhen Stock Exchange, most are mainly in the machinery equipment, electronics and pharmaceutical and biological industries.

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