Zhejiang Cayi Vacuum Container IPO to debut on Shenzhen Stock Exchange
June 24, 2021 (China Knowledge) – The Zhejiang Cayi vacuum container (301004) will start trading on the Shenzhen ChiNext market on June 25 tomorrow. The company issued 25 million shares at a price of 7.81 RMB per share, thus increasing 195.3 million RMB. Its price / earnings (PE) ratio stands at 14.98. At the time of subscription, the IPO was 6,462 times oversubscribed.
Zheshang Securities acts as the main underwriter and sponsor for the IPO.
Zhejiang Cayi Vacuum Container is mainly engaged in R&D, design, production, sale of food and beverage containers of various materials. This includes thermos mugs, bottles, glass and plastic mugs and other similar products.
In fiscal year 2020, Zhejiang Cayi achieved total revenue of RMB 355.6 million, up 12.2% year-on-year. In terms of net profit, it reached 64.8 million RMB, up 9.8% year-on-year. In the first quarter of 2021, the company reported revenue of RMB 79.2 million, an increase of 8.4% year-on-year, and its net profit reached RMB 11.9 million, up 12.6% year-on-year.
The funds raised from the IPO will be used to expand its production of stainless steel vacuum flasks, build an R&D and testing center, and to supplement its working capital.
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