Beyondsoft is a provider of outsourcing software and information technology services, such as ADM (Application Development and Maintenance), ITO (Information Technology Outsourcing) and BPO (Business Process Outsourcing) services.
The company issued 25 million shares at 22 yuan per share, raising 550 million yuan from its initial public offering.
An analyst at Guotai Junan Securities, Wei Xinggeng, said the company is a major supplier of outsourcing services to the European and U.S. markets, with major clients such as Microsoft and HP.
According to IDC, the scale of China’s offshore software market may rise from $3.4 billion in 2010 to $9.9 billion in 2015, with a compound annual growth rate of 24.2 percent.
During the first half of 2011, the company recorded 78.1 percent of its revenue from research and development engineering services, while IT application services contributed 20.6 percent.
Wei forecasts earnings per share (EPS) of 0.73 yuan in 2011, 1.04 yuan in 2012, and 1.55 yuan in 2013, and added that a reasonable price range is 21.17-24.09 yuan per share, corresponding to a price earnings ratio (P/E ratio) of 29 – 33 times earnings.
Shares of Beyondsoft fell 9.77 percent to trade at 19.85 yuan per share at 11:03 today.
Jiajia Food is a producer of soy sauce, edible vegetable oil, MSG, vinegar, chicken essence, and other seasonings. It currently has production capacity of 200,000 tons of soy sauce.
The company issued 40 million shares at 30 yuan per share, raising 1.2 billion yuan from its initial public offering.
According to Chen Gang, an analyst at Sinolink Securities (600109), the company’s sales are mainly concentrated in east and central China. The company may be able to sell nationwide with increased production capacity.
Chen forecasts diluted EPS of 0.986 yuan, 1.196 yuan and 1.554 yuan for the period between 2011 and 2013, and said a reasonable price range was 29.9-33.5 yuan per share.
Shares of Jiajia Food fell 27.40 percent to trade at 21.78 yuan per share at 11:16 today.
Leejun Industrial mainly produces energy efficient grinding equipment. It issued 41 million shares at 25 yuan per share, raising 1.03 billion yuan from its initial public offering.
An analyst at Haitong Securities (600837), Long Hua, said though the company had achieved technology breakthroughs in the wear resistance of materials, a drop in infrastructure construction will lower demand for its equipment used in the cement sector.
The company’s roll squeezers may be used more widely in the ferrous metal grinding sector, and the almost 10,000 related enterprises may support long-term demand, added Long.
Long predicts EPS of 1.48 yuan in 2011, 1.67 yuan in 2012, and 1.88 yuan in 2013, and said a reasonable price range is 21.71-26.72 yuan per share.
Shares of Leejun Industrial fell 18.2 percent to close the morning session at 20.45 yuan per share.
Source:http://www.capitalvue.com/home/CE-news/inset/@10063/post/5366963
