Core Viewpoint - New Qian Group Co., Ltd. (New Qian) successfully listed on the Hong Kong Stock Exchange on June 10, with an IPO price of HKD 18.9 per share, raising approximately HKD 200 million [1][3]. Group 1: IPO Details - New Qian issued 10.5854 million shares, with a net fundraising amount of approximately HKD 164 million [1]. - On the first day of trading, the opening price was HKD 30.25 per share, representing a 60.05% increase from the IPO price, and the closing price was HKD 22.95 per share, a 21.43% increase [3]. - The company achieved a market capitalization of approximately HKD 2.2 billion by the end of the first trading day [3]. - The public offering was oversubscribed by 149.37 times, while the international offering was 0.93 times subscribed [3]. Group 2: Company Background - New Qian was established in September 2006 and is located in Ji'an, Jiangxi Province, with a registered capital of approximately RMB 85.645834 million [3]. - The main shareholders include Shenzhen New Qian Industrial Development Co., Ltd. and Shenzhen Guoxin Hongsheng Equity Investment Fund [3]. Group 3: Business Overview - New Qian is a manufacturer of food-grade glycine and sucralose, serving approximately 150 clients from various industries [5]. - The company reported revenues of approximately RMB 761 million, RMB 447 million, and RMB 569 million for the years 2022, 2023, and 2024, respectively [6][7]. - Gross profits for the same years were approximately RMB 195 million, RMB 80 million, and RMB 102 million, with net profits of approximately RMB 122 million, RMB 44.66 million, and RMB 43.41 million [6][7]. Group 4: Financial Performance - The adjusted net profit for 2024 is projected to grow by 20% year-on-year, reaching approximately RMB 53.61 million after excluding listing expenses [7]. - Despite the projected growth, the profit scale in 2023 is noted to be "halved" compared to 2022 [8].
新琪安在港交所上市，首日收涨21%，市值约22亿港元