Qingdao Taide Automobile Bearing’s IPO to debut on Beijing Stock Exchange

Qingdao Taide Automobile Bearing

Jun 17, 2022 (China Know-how) – Qingdao Taide Car Bearing (831278) to start investing on the Beijing Stock Trade Jun 20, subsequent Monday. The organization has issued 28.75 mln shares priced at RMB 4.06 for each share raising RMB 116.73 mln. Its cost-to-earnings ratio (PE) stands at 19.39. In the course of membership the IPO was 633 periods oversubscribed.

Zhongtai Securities functions as the guide underwriter and sponsor for the IPO.

Qingdao Taide Automobile Bearing Co.,Ltd manufactures and distributes automotive bearings. The Firm provides automobile engine gears, automobile compressor electromagnetic clutch bearings, loafer bearings, h2o pump bearings, and mower bearings. Qingdao Taide Automobile Bearing markets products and solutions in China, The usa, Europe, Japan, and Southeast Asia.

In FY 2021, Qingdao Taide Vehicle Bearing garnered a complete revenue of RMB 283 mln, up 29% YoY. In conditions of web revenue, it attained RMB 31 mln, mounting 5% YoY. In Q1 2022, the enterprise described income of RMB 67 mln, a YoY enhance of 15%, and its net income reached RMB 5 mln, down 1% YoY.

The company is in the vehicle industry that is at present created of 246 counters in Shanghai and the Shezhen Stock Exchange with a total combined market capitalization of RMB 4,043 bln, industry’s regular PE of 31 times. The vehicle industry’s index is up 37.90% year-to-date, ranking it the 8th spot among all 29 broad sector groupings.

SAIC Motor Company Minimal (600104) will take up the best location in conditions of sales in the marketplace, reporting RMB 742.13 bln of product sales in 2020, with a web income of RMB 20.43 bln, at 9 moments PE. The next most significant is Weichai Electricity Co.,Ltd. (000338), a full income of RMB 197.49 bln and a web gain of RMB 9.21 bln, at 16 instances PE. China Grand Automotive Products and services Team Co., Ltd. (600297) ranked 3rd. It garnered a full earnings of RMB 158.44 bln very last calendar year, and a web earnings of RMB 1.52 bln, with 13 times PE.

The typical industry’s PE for the exact same or equivalent shares on Hong Kong Exchange (HKEx) and the U.S. stock marketplaces for vehicle is 28 occasions and 18 instances, respectively. On a calendar year-to-date foundation, the industry’s index on the HKEx rises 7.46% and the U.S is down 9.35%.

Given that January, a complete of 154 businesses have mentioned on possibly Shanghai or Shenzhen Inventory Trade, most are primarily in the machinery machines, electronics and pharmaceutical and organic industries.

Katherine T. Burrows

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