November 11, 2021 (China Knowledge) – Jinpu Landscape Architecture (301098) will start trading on the Shenzhen ChiNext market on November 12 tomorrow. The company issued 26.40 million shares at a price of 12.36 RMB per share, thus increasing 326.3 million RMB. Its price-to-earnings (PE) ratio stands at 17.59. At the time of subscription, the IPO was oversubscribed 5,997 times.
Changjiang Securities, Huajin Securities acted as the main underwriter and Changjiang Securities was the sponsor of the IPO.
Jinpu Landscape Architecture is a China-based company mainly engaged in landscaping services. The main business of the Company is the design and construction of landscaping construction projects, as well as the planting and sale of nursery seedlings and flowers. The Company’s engineering construction services include urban ecological environment improvement projects, construction of cityscapes and construction of cultural buildings.
In fiscal year 2020, Jinpu Landscape Architecture generated total revenue of RMB 932 million, up 12% year-on-year. In terms of net profit, it reached 76 million RMB, down 13% year-on-year. In the first three quarters of 2021, the company reported sales of 686 million RMB, an increase of 10% year-on-year, and its net profit reached 76 million RMB, up 19%. year-on-year.
The company is active in the architecture and interior design sector which currently has 147 counters in Shanghai and the Shezhen Stock Exchange with a combined total market capitalization of RMB 1,672 billion, an average PE of 9 times . The index of the architecture and interior design industry is up 29.32% since the start of the year, which ranks it 11th among the 29 major industrial groups.
China State Construction Engineering Corporation Limited (601668) ranks first in terms of sales in the industry, with turnover of RMB 1,615.02 billion in 2020, with net profit of RMB 44.94 billion , at 4 times PE. The second largest is China Railway Group Limited (601390), with a total turnover of 974.75 billion RMB and a net profit of 25.19 billion RMB, at 5 times PE. China Railway Construction Corporation Limited (601186) ranked third. It generated a total turnover of 910.32 billion RMB last year and a net profit of 22.39 billion RMB, with a PE 4 times higher.
The industry average PE for the same or similar stocks on the Hong Kong Stock Exchange (HKEx) and the US Architecture and Home Decor Stock Markets is 32 times. Since the start of the year, the industry index on the HKEx has increased by 37.92% and the United States by 46.32%.
There will be two more IPOs tomorrow, Guangdong Tian Yi Ma Information Industry Co., Ltd. (301178) and Shanghai Anlogic Infotech Co., Ltd. (688107).
Since January, a total of 406 companies have been listed on the Shanghai or Shenzhen Stock Exchange, most of which are primarily in the machinery equipment, electronics, and pharmaceutical and biological industries.
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