Yuanxin Energy Storage IPO: Profit Up Nearly 60% Last Year, P/E Around 25 Times

Chinese integrated energy storage system solutions provider Yuanxin Energy Storage (9621) began its first day of subscription last Friday, with profit up nearly 60% last year to RMB 153.8 million. At the upper offer price of $11.1, market capitalisation is $4.5459 billion and the price-earnings ratio is around 25 times. CDH Investments subscribed $31.4 million as a cornerstone investor.