Xueqi Electric Opens Subscription for A-Share
On January 2, Xueqi Electric (001387.SZ) opened subscriptions for A-shares, with an issue price of 15.38 yuan per share and a subscription limit of 13,500 shares. The price-to-earnings ratio is 22.53 times, and the company is exclusively sponsored by CITIC Securities.
Xueqi Electric is primarily involved in the production, research, and sales of refrigerators and commercial display cabinets. The company provides domestic and foreign brands with large refrigerators and commercial display cabinets with a volume of more than 400L. It has three highly automated production lines with a capacity of over 1 million units.
The company has emphasized independent research and development and has achieved continuous optimization and upgrading of core technologies related to refrigerator manufacturing. Important suppliers include Covestro Group, Hefei Hesheng New Materials Co., Ltd., and Sichuan Changhong Electric Co., Ltd.
Xueqi Electric has established itself as a well-known original design manufacturer in the household refrigerator manufacturing sector. Its customer groups include Midea Group, Xiaomi Group, Meiling Group, Yunmi Technology, Electrolux, Hisense Group, Swire Group, COFCO, and other world-renowned enterprises and home appliance brands.
In terms of financial performance, Xueqi Electric has shown a relatively stable and growing trend in operating income and net profits from 2020 to the first half of 2023. However, the company has cautioned investors about the risks associated with high customer concentration and a high proportion of revenue from its largest customers.
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