SHANGHAI – Jiangsu Xiehe Electronic went public this week on the Shanghai Stock Exchange, with a public offering price of RMB 26.56 (US$4.06) per share.

The maker of flexible circuits and assemblies raised 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 stands at 22.99.

Jiangsu Xiehe produces rigid-flex PCBs, flex circuits, and performs contract assembly. 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. The firm’s 2019 net income was RMB 128 million, down 19% year-over-year.

Ed.: RMB 1 = US$0.15