Autel valuation exceeds RMB33b in Shanghai STAR Market IPO

Autel (688208) has been listed on the Shanghai STAR Market. The company performed well on the first day of its IPO, with stock price rose by over 200%, reaching a market value of more than 33 billion yuan.

Autel (688208) has been listed on the Shanghai STAR Market. The company performed well on the first day of its IPO, with stock price rose by over 200%, reaching a market value of more than 33 billion yuan.

Established in 2004, Autel specializes in intelligent automotive diagnostic products. The company has focused on this field for 16 years. Autel now ranks No.1 in Chinese market, and No.2 in global market.

Years of dedicated operation have resulted in the continuous growth of Autel. The annual compound growth rate of its main business’s net profit has exceeded 40%. The company’s net profit in 2018 has reached 336 million yuan.

According to PTEN, a well-known U.S. professional magazine in the automotive aftermarket, the company’s market share has exceeded that of Bosch in North America.

Autel has now built the most competent technical team in the field of intelligent automotive diagnostics in China, with R&D personnel accounting for over 50% of its staff. As of the first half of 2019, Autel has obtained a total of 160 domestic and overseas patents related to intelligent diagnosis and testing of automobiles.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/autel-valuation-exceeds-rmb33b-in-shanghai-star-market-ipo/.

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