החברה המשרתת את קולר, TOTO, תקן אמריקאי ושמות מותגים אחרים של חדרי אמבטיה מגיעים לשוק

בית ספר לעסקים בשירותים

ביוני 28, הנציבות לניירות ערך וחוזים עתידיים חשפה את תשקיף ההנפקה הראשונית (הגשה) של Hangzhou Panasia Sanitary Ware Co. Panasia Sanitary Ware intends to issue about 31.27 million shares to raise funds for the construction of production bases, information technology construction, וכו. Panasia Sanitary Ware 2020 has revenue of more than 1.1 טריליון יואן, and its customers include TOTO, קולר, רוקה, Moen and other famous foreign companies. רוקה, Moen and other well-known foreign companies. If it is successfully listed, the bathroom listed companies will add a “fierce”.

To invest 568 million yuan for the production base and information construction

לפי התשקיף, Panasia Sanitary Ware intends to list and issue 3,126,667,000 shares in domestic A-share, חשבונאות עבור 25.00% of the total number of shares issued by the company, with a total share capital of 12,506,667,000 shares after the issue. It applied for listing on the Shenzhen Stock Exchange, and the issue price is not yet determined.

Panasia bathroom in the prospectus said that the issue of funds will be invested in two major projects according to the actual situation of the company, לְרַבּוֹת “מוצרי מטבח ואמבטיה בסיס ייצור חכם ומטבח וחדר רחצה R & פרויקט בניית מרכז D ומידע”, וכן “פרויקט הרחבת ייצור חכם של מוצרי אמבטיה “. ביניהם, the total investment amount of the sub-project “construction project of intelligent manufacturing base for kitchen and bathroom products” הוא 357 מיליון יואן, מהווים יותר מ 60% of the total investment amount of all projects.

יְחִידָה: מיליון יואן

עִם 11 affiliated companies, the revenue in 2020 exceeds 1.1 טריליון יואן

The prospectus shows that the predecessor of Panasia Sanitary Ware Co. בדצמבר 2009, Panasia Limited was reorganized as a foreign-invested joint stock company and renamed as “Hangzhou Panasia Sanitary Ware Co. יש לה הון רשום של 40 מיליון יואן, and the legal representative is Zhang Boliang. כַּיוֹם, the actual controllers of Panasia Sanitary Ware are Zhang Boliang, Ye Rujun, Zhang Ye and Yao Lei. Together, they directly and indirectly hold 76.70% of the shares of the company before this issue, and together control 82.60% of the shares of the company before this issue.

It is reported that Panasia Sanitary has been engaged in kitchen and bathroom furniture business since 2010. It currently has established three production bases in Tonglu, Zhejiang, Long An, Vietnam and Rayong, תאילנד. As of the date of the prospectus, Panasia Sanitary Ware has 9 wholly-owned subsidiaries and 2 branches.

The prospectus also discloses the business of Panasia Bathroom in the past three years. מִן 2018 אֶל 2020, Panasia Sanitary achieved operating revenues of 743 מיליון יואן, 809 מיליון יואן ו 1.102 טריליון יואן, בהתאמה, showing a year-on-year growth trend. The net profit attributable to shareholders of the parent company for the same period is RMB 0.20 מיליארד, יואן 0.66 billion and RMB 118 million respectively, with the same significant growth momentum.

יְחִידָה: מיליון יואן

The main business of Panasia Sanitary Ware is the research and development, production and sales of kitchen and bathroom household products. 2020, the revenue from the main business accounted for 98.83% of the company’s revenue. מבחינת קטגוריות, cabinets are the largest category in terms of revenue for Panasia Sanitary Ware, חשבונאות עבור 38.36% of operating revenue. This is followed by drain rods and accessories (26.11%), ברזים ואביזרים (10.90%), and elbows (7.50%). בנוסף, Panasia bathroom also has production of bathroom cabinets, צינורות, furniture accessories and other products.

יְחִידָה: מיליון יואן.%

Foreign sales revenue accounted for more than 50%, TOTO, רוקה, קולר, מואן, וכו. are the main customers

Panasia Sanitary’s export revenue accounts for a large proportion of total revenue. The prospectus shows that from 2018 אֶל 2020, the amount of foreign sales revenue of Panasia sanitary ware is 381 מיליון יואן, 443 מיליון יואן ו 733 million yuan respectively. It accounted for 52.52%, 55.43% וכן 67.26% of the main business revenue, בהתאמה.

It is revealed that the main customers of Panasia Sanitary Ware include Kohler, מואן, דֶלתָא, הנסגרוהה, Grohe, תקן אמריקאי, TOTO, רוקה, וכו', among which the cooperation with Kohler, מואן, דֶלתָא, American Standard and other brands has been more than 15 שנים.

In view of the high degree of customer concentration, Panasia bathroom in the prospectus to investors the relevant risks: מִן 2018 אֶל 2020, the company’s sales revenue of the top five customers are 574 מיליון יואן , 620 מיליון יואן ו 878 מיליון יואן. It accounted for 77.17%, 76.65% וכן 79.68% of the current operating revenue, בהתאמה. It has a high degree of customer concentration.

In the filing, Panasia Sanitary did not disclose the expected issue date and issue price per share. According to the situation that the company can be listed about six months after the disclosure of the prospectus, if it goes well, Panasia Sanitary is expected to be listed in the second half of 2021 or the first half of 2022.

יותר מ 20 כלים סניטריים, home furnishing enterprises lined up to go public

עַד כֹּה, the domestic bathroom industry-related enterprises have been listed Dongpeng Holdings, Diou Home, Huida Sanitary, שחף סומיטומו, four pass shares, Solux Technology, בית Jianlin, ר & ט. The latest bathroom-related company to go public is Dongpeng Holdings, with a listing date of October 2020.

Although, no bathroom-related companies have been listed so far from 2021, אוּלָם, several have started the listing process. בנובמבר 5, 2020, the SEC website released the announcement of the acceptance of Arrow home counselling filing registration, showing that the company has entered the listing process. Huayi bathroom also revealed that it would start the IPO process when it participated in the Jiangmen 100 enterprises listed mobilization meeting in November 2020. נכנסים 2021, Hilk became the first bathroom-related company to disclose its listing plan. The company is currently undergoing IPO counseling, and the counseling time is about April 2021 עד אוקטובר 2021.

Zooming in on the home furnishing industry, the number of companies that have gone public or are in the queue to go public in 2021 is even more impressive.According to incomplete statistics, listed home furnishing companies in the first half of 2021 include Wangli Security, Zhenai Maijia, Romain, Natural Outdoor Goods Inc. and Yuma Sun-Shading, among many others. Another more than 20 home furnishing enterprises are going through the process of listing, including the strongest lineup of smart home furnishing enterprises.The team includes companies such as Eoroom Intelligent, Haojiang Intelligent, ORVIBO, HHC and Ezviz.

According to the first issuance audit workflow of the Securities and Futures Commission, enterprises listed generally need to go through the acceptance, feedback session, preliminary examination session, issuance review session, sealed volume, approved issue and other links. This generally takes several months to half a year. This means that the second half to early next year, the capital market will usher in more home furnishing enterprises. כָּך, it seems that the bathroom and home furnishing industry has entered a new round of intensive listing period.