Grandway Advised Xinling Electric on IPO Project Successfully Listing on the ChiNext of SZSE

On November 9, 2022, Xinling Electrical Co., Ltd. (“Xinling Electrical”) was listed on the ChiNext of Shenzhen Stock Exchange. Xinling Electrical issued 25,611,900 shares, with stock code 301388, in the industry of electrical machinery and equipment manufacturing (C38).

Xinling Electrical issued a price of RMB 25.88 per share. The corresponding issuers’ net profit in 2021 after deduction of non-recurring gains and losses of the lower diluted P/E ratio of 37.86 times, exceeding the electrical machinery and equipment manufacturing (C38) industry’s static average P/E ratio of 32.64 times in the recent month, exceeding the range of 15.99%.

Xinling Electrical is a typical specialized and special new enterprise that uses the opportunity of capital market listing for channel expansion and industrial upgrading from the traditional industry, and is a rising star in the advantageous industrial cluster of Wenzhou Yueqing, the “capital of low-voltage electrical appliances”. Through years of industrial accumulation, precise competitive strategy and continuous R&D innovation, the company has been fruitful in the field of industrial control such as dual power automatic transfer switch, control and protection switch, relay, etc. in the leading position in the industry. As a high-tech enterprise, the company has won such honors as provincial technology research center, participating in the preparation of several industry standards, and striving to deeply promote downstream intelligent manufacturing, realizing the localized replacement of mid- and high-end products, and embracing the arrival of the Internet of Things era in the field of industrial control.