Jun 17, 2022 (China Awareness) – Qingdao Taide Car Bearing (831278) to start off investing on the Beijing Stock Exchange Jun 20, upcoming Monday. The firm has issued 28.75 mln shares priced at RMB 4.06 for every share boosting RMB 116.73 mln. Its value-to-earnings ratio (PE) stands at 19.39. In the course of membership the IPO was 633 periods oversubscribed.
Zhongtai Securities acts as the lead underwriter and sponsor for the IPO.
Qingdao Taide Car Bearing Co.,Ltd manufactures and distributes automotive bearings. The Organization makes auto engine gears, automobile compressor electromagnetic clutch bearings, loafer bearings, drinking water pump bearings, and mower bearings. Qingdao Taide Vehicle Bearing marketplaces goods in China, The usa, Europe, Japan, and Southeast Asia.
In FY 2021, Qingdao Taide Automobile Bearing garnered a total income of RMB 283 mln, up 29% YoY. In terms of web profits, it obtained RMB 31 mln, rising 5% YoY. In Q1 2022, the enterprise documented revenue of RMB 67 mln, a YoY boost of 15%, and its web profits arrived at RMB 5 mln, down 1% YoY.
The firm is in the automobile field that is now manufactured of 246 counters in Shanghai and the Shezhen Inventory Exchange with a complete combined sector capitalization of RMB 4,043 bln, industry’s regular PE of 31 occasions. The car industry’s index is up 37.90% year-to-day, ranking it the 8th put amid all 29 broad field groupings.
SAIC Motor Corporation Constrained (600104) usually takes up the major place in conditions of profits in the marketplace, reporting RMB 742.13 bln of profits in 2020, with a internet income of RMB 20.43 bln, at 9 instances PE. The next most significant is Weichai Ability Co.,Ltd. (000338), a total profits of RMB 197.49 bln and a internet financial gain of RMB 9.21 bln, at 16 situations PE. China Grand Automotive Solutions Team Co., Ltd. (600297) rated 3rd. It garnered a complete revenue of RMB 158.44 bln final year, and a net revenue of RMB 1.52 bln, with 13 moments PE.
The ordinary industry’s PE for the similar or comparable stocks on Hong Kong Exchange (HKEx) and the U.S. inventory markets for vehicle is 28 situations and 18 moments, respectively. On a 12 months-to-day basis, the industry’s index on the HKEx rises 7.46% and the U.S is down 9.35%.
Considering that January, a full of 154 organizations have detailed on both Shanghai or Shenzhen Inventory Trade, most are largely in the machinery products, electronics and pharmaceutical and organic industries.