On December 3, 2020, Jiangsu Xiehe Electronic Co., Ltd. (605258) went public on the Main Board of Shanghai Stock Exchange at a public offering price of RMB 26.56 (US$4.06) per share, raising RMB 584.32 million in the filing. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 22.99.

Jiangsu Xiehe Electronic is a company based in Henglin town, Changzhou, which is mainly engaged in the research, development, production and sales of rigid flexible printed circuit boards, flexible printed circuit boards, as well as printed circuit board surface mount services (SMT). Its key markets are automotive electronics and high-frequency communications.

In 2019, Jiangsu Xiehe Electronic reported revenue of RMB 542.38 million, down 7% year-over-year. In terms of net income, the firm achieved 128 million, down 19%. Its return on equity (ROE) and return on asset (ROA) stood at 24.87% and 15.22% respectively, earning per share (EPS) of 1.65.

Under the local government’s support, a total of 15 enterprises in Henglin town have accomplished system restructuring to get ready for going public, including Zhongxin Home Furnishing, Liamax New Materials Technology, Jiashi Home Decoration, and Boda New Materials. During the 14th Five-Year Plan period (2021-2025), Henglin expects to see five companies going public on the Main Board of Shanghai Stock Exchange, said Jiang Chunming, secretary of CPC Henglin Township Committee.