Yechiu Metal Recycling (China) Ltd. will land on SSE

Apr.20, 2012

Yechiu Metal Recycling (China) Ltd.(stock code:601388) will land on Shanghai Stock Exchange on April 23, 2012.

The company’s IPO volume is 105 million with the post-IPO share capital totaling 410 million, the offering price of 13 yuan per share, the raised funds expected up to 1.365 billion yuan.Net assets per share will rise from 2.74 yuan to 5.16 yuan after IPO.

Yechiu Metal Recycling (China) Ltd is mainly engaged in the recycling and processing of metal resources. The Company primarily involves in the collection of aluminum scrap resources from waste automobiles, construction materials, home appliances, machinery, packages and equipment, as well as the manufacturing of secondary aluminum products. The Company’s major products are aluminum alloy ingots. The Company’s products are mainly used in automobiles, home appliances, machinery, buildings, communications, computers, packages and hardware, among others.

For the last year,Yechiu Metal Recycling (China) Ltd’s total revenues totaled RMB5.4B, up from RMB3.7B. The Company’s net income increased from RMB329M to RMB365M,Basic EPS from 0.95 to 1.00 CNY.