Hengtai Lighting goes public on the Beijing Stock Exchange today

News on November 17: Hengtai Lighting (873339) went public on the Beijing Stock Exchange today. The issue price was RMB 6.28 per share, the P/E ratio was 15 times, and the number of shares issued was 22.2 million.

According to available information, Hengtai Lighting is located in the Nantong Economic and Technological Development Zone. Established in 2013, the company is a high-tech enterprise specializing in environmentally friendly, smart lighting luminaires, primarily engaged in the R&D, manufacturing, sales, and service of LED luminaire products.

Hengtai Lighting's products are mainly divided into two categories: industrial lighting and commercial lighting. Industrial lighting primarily consists of high-bay lights, while commercial lighting includes linear lights and panel lights. After years of development, we have established long-term and stable cooperative relationships with some international brand manufacturers.

The company has deeply cultivated the LED lighting sector and is an "invisible champion" in LED high-bay light export, with products mainly sold to the North American market.

According to information from the China Association of Lighting Industry (CALI), among enterprises exporting industrial and mining lamps in 2021, Hengtai Lighting ranked first. In the single market of the United States, Hengtai Lighting held a 1/4 market share. Additionally, the company's products have passed mainstream market standard certifications in countries such as the United States and Canada (UL, ETL, CUL, FCC, DLC, etc.).

In terms of performance, Hengtai Lighting's revenue grew from RMB 511 million in 2019 to RMB 767 million last year, with net profit approaching RMB 80 million.

In terms of technology, the company attaches great importance to R&D and spares no effort in investing heavily in R&D innovation. Data shows that from 2019 to 2021, the company's R&D expenses were RMB 18.92 million, RMB 20.47 million, and RMB 27.40 million, respectively. In the first three quarters of 2022, the company's R&D expenses reached RMB 17.39 million.

Currently, Hengtai Lighting possesses several key technologies, including LED lighting fixtures with easy installation and removal, mounting brackets for lighting projects, new LED luminaires based on airflow self-cleaning, half-cut module technology, and power distribution boxes for emergency lighting. The company has obtained more than 60 patents, including 4 invention patents.

The company has established the Nantong Engineering Technology Research Center (municipal-level R&D center) and the Jiangsu Province High-Intensity Energy-Saving Explosion-Proof Lighting Equipment Engineering Technology Research Center (provincial-level engineering technology research center), and has set up an independent testing center.

The funds raised from Hengtai Lighting's IPO are mainly directed towards the project with an annual production capacity of 5 million sets of LED luminaires, intelligent technological transformation, and the upgrade of the R&D center. After the project reaches full production capacity, the company's annual sales will reach 1.5 billion yuan.

Wu Xinming, Deputy Secretary of the Nantong Municipal Party Committee and Mayor, stated at the "Cloud IPO" ceremony that Nantong has always attached great importance to corporate IPO work. The city has innovatively established a monthly joint conference system for IPOs, accelerated the construction of a full-process, professional, and precise service system, and is making every effort to promote the quality improvement and expansion of the "Nantong Sector" in the capital market. As a leading enterprise in the national commercial and industrial lighting industry, Hengtai Lighting will surely "shine brightly" for the high-quality development of the city's real economy. It is hoped that Hengtai Lighting will take advantage of the momentum from its IPO, bravely scale new heights of development, and repay society and reward investors with higher-quality products, excellent services, and outstanding performance.

Li Pengqing, Chairman of Hengtai Lighting

Li Pengqing, Chairman of Hengtai Lighting, stated that as a local enterprise in Nantong, Hengtai Lighting will live up to the affection and support of the people of Nantong and广大 investors. Rooted in Nantong, with a layout in Southeast Asia and an eye on North America, the company is poised for vigorous growth, striving to optimize, strengthen, and expand the business to meet the ever-changing new market demands. It aims to become an influential international enterprise in the industry. At the same time, it will strictly adhere to the code of conduct for listed companies, comply with rules, and give back to society and广大 investors through sustained, steady growth, superior customer experience, and outstanding performance.