Mobile Device Antenna Maker Sunway to IPO
Securities Times, 10/15/10
Shenzhen-based Sunway Communication (300136.SZ) publicly released its IPO prospectus today. Sunway plans to issue up to 16.67 mln A-shares on the Shenzhen stock exchange, or 25% of the company. The initial inquiry period will run from October 18 to October 20, following which the share price will be officially announced on October 22. Shares will become available for online and offline purchase on October 25.
Sunway Communication specializes in R&D, manufacturing, sales, and services relating to antenna systems for mobile device terminals. Key clients include Shenzhen-based handset manufacturer Gionee, consumer electronics retailer Bubugao, portable media player maker OPPO, and mobile TV makers Konka (200016.SZ, 000016.SZ) and Changhong (600839.SH). In 2009, Sunway received supplier status from telecommunications equipment maker Huawei, and began providing mobile terminal antennae to Huawei and Samsung. In March of this year, Sunway became an official supplier to RIM.
According to Sunway's prospectus, company revenues have grown from RMB 17.17 mln in 2007 to RMB 95 mln in 2009, to RMB 65.37 mln in H1 2010. From 2006 to 2009, Sunway's operating revenues and net profits grew by an average of 135% and 209% per year, respectively.
Keywords: Mobile Internet Device handset IPO antenna wireless R&D RIM Shenzhen Stock Exchange 000016.SZ 200016.SZ 600839.SH Sunway mobile TV profit revenue A-share 300136.SZ
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