iRay Technology debut on Shanghai stock exchange

Image Credit: Screenshot of http://www.iraygroup.com/ website, 15th November 2020

On September 18th 2020, iRay Technology (688301) started trading on the Shanghai STAR Market, at a public offering price of RMB 119.6 per share, raising RMB 2.18 bn. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 101.78. China International Capital Corporation (CICC), Haitong Securities acted as the lead underwriter, and Haitong Securities served as the sponsor for the IPO.

iRay Technology is a China-based company principally engaged in the research and development, production and sales of digital X-ray detectors, as well as the provision of related services. The Company’s products include universal radio frequency series, universal radio frequency series, breast series and radiotherapy series. The Company’s products are applied in medical diagnosis and treatment, industrial non-destructive testing and security inspection fields. The Company distributes its products within domestic market and to overseas markets.

In financial year 2019, Iray Technology garnered a total revenue of RMB 546.11 mln, up 24% YoY. In terms of net income, it achieved RMB 103 mln, 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.