Yongxin International Holdings Ltd (永鑫國際)

臥龍先生

Yongxin International Holdings Ltd.‘s IPO LAUNCHED At S$0.30 Per Share!   

Second largest producer ofhigh-precision steel strips in the PRCwith aggregate maximumproduction capacity of 40,000 MT* in June 2007

Market leader in the PRC supplying chrome-plated steel strips used in the production of optic fiber communication cables

Raising funds to expand manufacturing capabilities, sales and marketing channels and R&D

Offer closes at 12.00 noon on 26 July 2007

Corporate Profile

Based in Wuxi City, Jiangsu Province, PRC, Yong Xin is a leadingPRCmanufacturer of high-precision steel strips which are widelyappliedacross diverse industries, such as high energy batteries andopticfiber communication cables.

Mr Pu Dexing, Yong Xin's Executive Chairman and CEO, who has morethan20 years of experience in the PRC metal pressing industry, joinedthecompany in March 2000 and has been instrumental in leadingthetransformation of Yong Xin into a leading manufacturerofhigh-precision metal alloy plates and strips.

According to a report issued by Frost & SullivaninJanuary 2007, Yong Xin was the second largest producer ofhigh-precisionsteel strips in the PRC in 2006, and the market leaderfor the supply ofchrome-plated steel strips used in the production ofoptic fibercommunication cables.

Financials

Yong Xin's revenue has also shown strong earnings growth over thepastthree years. From FY2004 to FY2006, the Group's revenue hasincreasedby a CAGR of 47.6% from RMB57.9 million to RMB126.0 million,whileprofit for the year surged by 153.7% from RMB5.2 million toRMB33.4million.

Invitation Shares

Of the 60 million New Shares offered, 2 million shares are availabletothe public for subscription while the remaining 58 million sharesarefor placement.

The Invitation represents 28.2% of Yong Xin's post-invitationsharecapital of 212,730,966 shares. At S$0.30 per share, Yong Xin's IPOispriced at an estimated price earnings ratio of 6.91 times, based ontheGroup's historical net earnings per share of S$0.0434 for FY2006.

The IPO will open at 9.00 a.m. on 23 July 2007 and close at 12.00noonon 26 July 2007. Trading of Yong Xin's shares, in board lots of1,000shares, is expected to commence on a "ready" basis on 31 July 2007.

Use of Proceeds

From the estimated net IPO proceeds of approximately S$15.7 million raised,approximately S$8.0 million will be used for the expansion oftheGroup's manufacturing capabilities through the acquisition ofnewproduction equipment;
approximately S$0.8 million will be used for the expansion of sales and marketing channels;
approximately S$0.8 million will be used for R&D purposes; and
approximately S$6.1 million will be used for working capital purposes.

[ 本帖最后由 臥龍先生 于 25-7-2007 11:31 PM 编辑 ]

臥龍先生