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Advanced Video Info-Tech Files for IPO

Shenzhen Stock Exchange, 9/05/11

Shenzhen Advanced Video Info-Tech (AVIT) has filed a prospectus with the China Securities Regulatory Commission (CSRC) for an IPO on the Shenzhen Stock Exchange's ChiNext growth enterprise board under the ticker symbol "300264." The company plans to issue 26 mln shares, accounting for 25.5% of total shares after the listing is complete. Each share will be priced at RMB 16.5, and the IPO is expected to raise up to RMB 429 mln.

AVIT recorded revenues of RMB 174.77 mln, RMB 122.2 mln, and RMB 106.15 mln in 2008, 2009, and 2010 respectively. Net profits were RMB 37.2 mln, RMB 23.39 mln, and RMB 20.36 mln in 2008, 2009, and 2010 respectively. The company's top five clients accounted for 52.5%, 70.1%, and 80.2% of total revenues in 2008, 2009, and 2010, respectively.

Revenue Breakdown, 2008 - H1 2011 (RMB/Mln)

Business 2008 2009 2010 H1 2011
DTV Software Systems 25.82 42.04 72.44 25.55
DTV Systems Integration 15.40 48.74 71.18 36.16
Cable DTV Set-Top Boxes 64.60 31.37 31.04 16.97
Other 0.05 0.05 0.11 0.11

Keywords: Advanced Video Info-Tech cable TV IPO revenue television DTV Shenzhen Stock Exchange ChiNext H1 2011 profit set-top box system integration 300264.SZ

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