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Sunniwell Files for Domestic IPO

DVB CN, 7/08/11

Beijing-based IPTV equipment manufacturer Sunniwell has filed a prospectus with the China Securities Regulatory Commission (CSRC) for a domestic IPO on the Shenzhen Stock Exchange's ChiNext growth enterprise board. Sunniwell is primarily engaged in the development and manufacture of IPTV set-top boxes (including DTV/IPTV integrated STBs), home media center/home media gateway terminals, and IPTV industry application systems.

Total revenue reached RMB 291.99 mln in 2010, up 37.3% YoY from 212.62 mln in 2009.

Net income was RMB 28.24 mln in 2010, up 26.6% YoY from RMB 22.3 mln in 2009.

Revenue from IPTV set-top boxes rose 31.2% YoY from RMB 148.52 mln in 2009 to reach RMB 194.96 mln in 2010.

Revenue from DTV/IPTV integrated set-top boxes reached RMB 70.21 mln in 2010, up 85.9% YoY from RMB 37.77 mln in 2009.

Huawei accounted for 66.9%, 79.4%, and 88.1% of Sunniwell's annual sales in 2008, 2009, and 2010 (RMB 133.32 mln, RMB 168.86 mln, and RMB 257.25 mln respectively).

Keywords: 2009 2010 2008 IPO IPTV revenue television Huawei CSRC Shenzhen Stock Exchange Sunniwell ChiNext profit set-top box


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