On September 18, 2020, iRay Technology (688301) to start trading on the Shanghai STAR Market today. Shares of iRay Technology jumped 53 percent in its first trading day，with its stock price reaching RMB183 and market value of RMB 13.2bn.
Earlier, iRay Technology said its IPO was 3,473 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.
iRay Technology is a China-based company and leader principally engaged in the research and development, production and sales of digital X-ray detectors, as well as the provision of related services. Founded in 2011, iRay is headquartered in Shanghai-Xinjinqiao Hi-tech Zone, with production facilities in Shanghai-Zhangjiang and in Taicang, all in China.
iRay X-ray detectors are used in more than 70 nations, including the United States and many European countries, and iRay has become China's leading manufacturer of flat panel detectors. The total installed base of iRay products now exceeds 40,000 units.
In financial year 2019, iRay Technology garnered a total revenue of RMB 546.11m, up 24% YoY. In terms of net income, it achieved RMB 103m, up 21% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 25.53% and 16.03% respectively, earning per share (EPS) of 1.77 RMB.
Source: Oceanpine Capital
