This article only represents the author's own views.
Kitchenware may not be that sexy, but don’t tell that to investors. Carote Ltd. (2549.HK) wowed the markets with its pots and pans earlier this month, lifting its shares to a steamy 58% jump on their first trading day in Hong Kong on Oct. 2. Now, the similarly kitchen-themed X.J. Electrics (Hu Bei) Co. Ltd. is hoping to replicate that success with its own IPO.
X.J. Electrics, more commonly known in China as Xiang Jiang, has similar financial metrics to Carote. It earned revenue of 1.19 billion yuan last year, not far behind 1.58 billion yuan for Carote. And X.J. Electrics’ net margin of 10.2% for the year wasn’t much below Carote’s 14.9%.
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