Ningde Times Valued at RMB 130 Billion is Expected to be the First to GEM
It is reported that in the top-selling new energy car companies, in addition to BYD can be "self-sufficient," most other car companies must purchase batteries or batteries from third-party battery factories. Among them, including Beiqi New Energy, SAIC Passenger Vehicles, Zhongtai Automobile, Jianghuai Automobile, Geely Automobile, and BMW Brilliance and other car companies, all have the Ningde era name. On November 10, the pre-disclosure of IPO prospectus for the GEM of Ningde Times appeared on the website of the China Securities Regulatory Commission. According to the pre-disclosed size of the issue and the scale of the proposed fundraising, the valuation in the Ningde era will reach 130 billion yuan. It is worth noting that, in March of this year, the subsidiary of Hon Hai Group acquired a 1.19% stake in the Ningde era for an investment of 1 billion yuan. This data is roughly calculated, and the valuation of Ningde era was 84 billion yuan. After an interval of 8 months, the valuation in the Ningde era was 1.5 times higher than before. Such a high valuation has also been higher than the current market value of most of the entire vehicle companies, and it is still catching up with Wen's shares, which are the "first in terms of market capitalization on the GEM." According to the IPO pre-disclosure documents of the Ningde Times GEM published on the website of the China Securities Regulatory Commission on November 10, in 2014, 2015 and 2016, the company’s operating income was 869 million yuan, 5.703 billion yuan, and 14.889 billion yuan, respectively. The growth rate was as high as 314.31%; the net profits were respectively 56 million yuan, 951 million yuan and 3.089 billion yuan, and the CAGR was as high as 642.70%. Sales of power battery systems are the main source of income for the Ningde era. The prospectus shows that in 2014, 2015, 2016 and January-June 2017, the sales revenue of power battery systems in the Ningde era were RMB 715 million, RMB 4.981 billion, RMB 13.976 billion and RMB 5.327 billion respectively. The proportion of operating business income was 94.17%, 87.98%, 95.55% and 87.14%, respectively. Ningde times revealed that the company issued no more than 217 million shares, which accounted for not less than 10% of the total share capital after issuance. All of them were new shares and did not involve the public offering of shares by shareholders. The fund-raising investment projects are: “Ningde Era Huxi Lithium Ion Power Battery Production Base Project†and “Ningde Era Power and Energy Storage Battery R&D Projectâ€, and plans to invest 13.12 billion yuan in funds raised. Based on this estimate, the Ningde Times expects the issue price to be around RMB 60/share, and its valuation will reach RMB 130 billion. Insiders told reporters that, with the daily limit of new stocks listed, if successfully listed, Ningde era will be the first major share of the GEM. Portable power system ,Portable power storage,Portable solar system, Outdoor power station, Portable power station SHENZHEN CHONDEKUAI TECHNOLOGY CO.LTD , https://www.szfourinone.com