Another Chinese Aftermarket Company to Go Public

According to the announcement released by China Securities Regulatory Commission on April 12, HG Technologies Co., Ltd (used to be Handan Hanguang OA Toner) is to go public on the Growth Enterprise Market (GEM).

HG Technologies, which is invested by Hebei Hanguang Industry Co., Ltd., CSIC Technology Investment & Development Co., Ltd., Institute of Chemistry of China Academy of Science, is one of the leading Chinese suppliers in developing and manufacturing drums and toner for laser printers and copiers.

During the Reporting Period in 2016, 2017 and 2018, the company’s operating income was RMB¥532,000,000, RMB¥639,000,000 and RMB¥693,000,000.

Relevant data shows that the income of toner and OPC drums remains about 95% of its main business income. And it is known that the average price of these two products showed a downward trend.