Cheersson Precision Metal Forming

Mar 6, 2020

March 6, 2020 Suzhou Cheersson Precision Metal Forming Co., Ltd, a designer and manufacturer of precision metal structural components, made its trading debut after raising 475 million yuan ($68 million) in an initial public offering (IPO) on the Small and Medium Enterprises Board (SME Board) of Shenzhen Stock Exchange (SZSE), according to a company filing on Friday. Cheersson, which initially filed for an IPO on February 25, offered up to 25 million shares at a price of 19.01 yuan ($2.7). The stock opened at 23.95 yuan ($3.4), up 38.87 per cent. Cheersson makes precision metal modules and devices including a resonator, low-pass, airbag bracket, solenoid valve, skeleton oil seal, among others. The products are mainly used by telecom, automobile and electric power players. The company’s products are exported to the United States, Poland, Hungary, India, and Mexico. In the US, its top clients are  Husco International, Harman International, TRW Automotive Holdings and Sea Link International. Cheersson also has a subsidiary in Mexico. As of September 2019, Cheersson has an aggregate of 578 million yuan ($83 million) in assets under management, a jump of 18 million yuan ($2.6 million) over 2018. The company will use the IPO proceeds to upgrade the metal components for automobiles and communications sectors, as well as finance the R&D centre construction. Chinese financial services firm Chinalin Securities is the principal underwriter of the deal. Sign up for our newsletter - The Daily Brief × Register Register If you don’t already have an account click the button below to create your account. Join DealstreetAsia's premium subscription service Unlock your competitive advantage in a rapidly evolving landscape. Our packages come with exclusive access to archive content, data, discount on summit tickets & more. Be a part of our growing community now. Singapore Reporter/s In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must. Following vacancies can be applied for (only in Singapore). Following vacancies can be applied for (only in Singapore). A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion. A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia. Singapore Reporter/s In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must. Following vacancies can be applied for (only in Singapore). Following vacancies can be applied for (only in Singapore). A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion. A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.