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Biz News Korea(Eng)
China’ Heng Sheng Toys Factory to be listed on Kosdaq market
- Collected
- 2016.08.04
- Distributed
- 2016.08.05
- Source
- Go Direct
Established in 1992, Heng Sheng Toys Factory is the largest toy contents company in Fujian Province. Its products ranging from plastic electric action toys and stuffed toys to kids’ laptops are supplied to global companies including the Walt Disney Company, Mattel and Fisher-Price.
The company’s CEO said in a press conference on Wednesday that the company would become a bridge connecting culture industries between the two countries to grow as a global entertainment company.
The company has manufactured Olympic mascots in the 2004 Athens Summer Olympic Games, 2008 Beijing Olympic Games and 2012 London Olympic Games.
The company explained that it has made great profits by turning its business structure to Original Brand Manufacturing (OBM) method with its own brands. Last year, sales of its own brands accounted for as much as 65 percent of total sales. The company recorded a consolidated net profit of 28.6 billion won ($25.6 million), operating profit of 39.2 billion won and sales of 201.3 billion won. Its operating profit margin posted 19.5 percent.
The company is seeking new revenue based on proprietary licenses and 3D animation.
Its initial public offering of 20 million shares led by Shinhan Investment Corp. will be available for retail investors next Monday and Tuesday to go listed on August 18. Its desired bid price is set between 3,400 won and 5,300 won per share. The company expects to secure 68 billion won to 106 billion won from the IPO.
By Yong Hwan-jin
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]