Main date:
Public release closing date: announcement at 12: 00 noon on December 22, 2017
Application results: January 4, 2018
Listing date: January 5, 2018
The family guarantor:
Guotai Junan financing Co., Ltd.
Summary of statistics:
Number of shares sold globally: 200000000 shares
Proportion of shares sold in Hong Kong: 10.0%
Sales: HK $1.60 to HK $1.68
Estimated collection of funds: HK $320 million to HK $336 million
Income per hand: HK $3393.86
A summary of the collection
Ji Zhi is a cylinder manufacturer with a total location in China. The cylinder block is the main installation of the steam engine and the place where the fuel burns. It is used to build cylinders for various types of engines, such as passenger cars, commercial engines and mechanical industrial machines, as well as a number of other parts for cylinder blocks and cylinders, including main bearings and cylinders, etc. The customers of the collection are mainly Chinese automobile manufacturers, including Jiangfan, BAIC Foton, Jiangxi 50, Anhui Jianghuai Automobile and Changcheng Automobile. According to Frost Sullivan's report, in terms of 2016 volume, Consortium ranks fourth among China's professional cylinder manufacturers, accounting for 3.0% of the market share.
Industry summary
According to Frost Sullivan's report, China's cylinder capacity increased from 1840 in 2011 to 2820 in 2016, with a combined annual growth rate of 8.9%. During the reporting period, the volume of China's cylinder capacity will further increase to 3980 by 2021, with a complex annual growth rate of 7.1 per cent between 2016 and 2021.
Cymbals
The success of the collection in the future depends to a large extent on the development and production of new cylinder and cylinder products that meet the ever-changing needs of customers, and the anticipation and application of technological change is related to the development of new products. If its products fail to meet customer demand, its market position may be adversely affected. In addition, the development of new product numbers requires a large amount of capital investment, and the initial cost of production is usually high. For the year ended December 31, 2016, the R & D expenditure of the fair was 20.8 million yuan. If the market response of the new product developed by the collection company is not good, or if it fails to obtain the expected economic return of the investment, it will have a negative impact on the economy.
Valuation
According to the IPO documents, assuming that the global development sale has been completed on June 30, 2017, according to the expected development of 8 shares after the completion of the sale of long-term shares, shares should account for 778 yuan to 791 million yuan per person in the non-profit-making integrated tangible assets area. Equivalent to HK $1.12 to HK $1.14 per share after untested tangible assets (at the exchange rate of HK $1 to HK $0.8682)
