On October 15, with the sound of a bell ring, Wuxi Lihu Booster Technology Co., Ltd. (hereinafter referred to as "Lihu Holding" and the security code of "300694") invested by Infinity Capital (hereinafter referred to as "Infinity") successfully listing in GEM China stock market. This is also the fifth IPO enterprise of Infinity’s portfolio companies in the past two years.
Lihu Holding issued 53.83 million shares, with a total share capital of 215 million shares. Lihu Holding closed at 14.24 yuan per share on the basis of the issue price of 9.89 yuan per share, with an increase of 43.98% on the first day, depending on its outstanding industry position and outstanding performance.
Lihu Holding was established in 1994 and is mainly engaged in the research and development, manufacture and sales of impellers, turbines, precision castings and turbochargers, as well as the import and export of various commodities and technologies. At present, Lihu Co., Ltd. has 58 patents for inventions and 74 patents for utility models. It is a key high-tech enterprise in China Torch Program.
In recent years, Lihu's research and development capability, production management, quality control, and timely delivery capability have been widely recognized by customers. It has won honorary certificates such as "Gold Award for Timely Delivery at Global Supplier Conference" awarded by Honeywell and "Excellent Supplier" awarded by Mitsubishi Industries. Its matching engines are widely used in BMW, Audi, Volkswagen, General Motors, Toyota, Honda, Ford, and other major global automobile brands.
In May 2014, Infinity Yangzhou Fund invested 25 million yuan into Lihu, becoming the third largest shareholder. Infinity's capital injection has provided a powerful boost to the rapid development of Lihu, further accelerating its research and development and production, and laying a solid foundation for listing. From 2015 to September 2018, Lihu's operating income was 540 million yuan, 798 million yuan, 904 million yuan and 781 million yuan respectively, with steady growth in operating income and net profit.
In the process of Lihu’s listing, Infinity also gave full play to its professional advantages, gave key guidance and fully assisted its IPO preparation.
Wang Hongqi, Chairman and General Manager of Lihu Holding, said that the successful listing is not the end point, but the new starting point for the company's development. In the future, Lihu will seize the opportunity of landing in the capital market, firmly grasp the implementation of the national policy of vigorously promoting "energy conservation and emission reduction" and the market opportunity of globalization of Purchasing for international supercharger manufacturers, expand the company's production and sales scale through capital market financing, further consolidate and enhance the company's leading position in the domestic and international markets, expand and strengthen its existing business, and at the same time, according to the development of the downstream market, extend to the new energy automobile parts field in due course to realize the sustainable development of the company.
Infinity said that the company has been paying close attention to the development of the real economy for a long time and is committed to exploring high-tech projects with high technology content and good market prospects. Lihu are the high-quality targets discovered by Infinity after professional screening.
