Daye Shares, one of the leading tire steel wire producers in China, went public on the A-share market on Monday, with an IPO of 52 million shares.
The company now owns general capital of 208 million shares.
Daye Shares mainly produces steel wire and steel cord for tire bead, which can be used in tires of passenger vehicles, trucks and aircrafts, as well as rubber tube wire.
Its domestic clients include ZC Rubber, Aeolus Tyre, Sailun Jinyu, Doublestar Tire and Triangle Tire. International tire makers such as Bridgestone, Cooper Tires, Hankook Tire and Kumho Tire are also clients of Daye Shares.
In 2014-2016, Daye Shares gained revenues of 1.135 billion yuan, 618 million yuan and 1.401 billion yuan, respectively.
In the first half of 2017, its revenues reached 841 million yuan.
Daye Shares expected a net profit of 152 million to 156 million yuan for 2017, up 6.29 percent to 9.09 percent on year.
The annual steel wire ouptut of Daye stands at about 207,900 tons, taking up a market share of more than 25 percent.
