Kaida Heavy Industry Lists on Beijing Stock Exchange as Year's Cheapest New Share
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Kaida Heavy Industry, the A-share market's cheapest new stock of the year by issue price, began trading on the Beijing Stock Exchange on September 23. The company specializes in the R&D, production, and sale of rolls and roll rings for steel rolling, serving major domestic steelmakers such as Baosteel and Shandong Iron and Steel, as well as international firms like ArcelorMittal, EVRAZ, JSW, British Steel, and POSCO. Its IPO proceeds will fund the 'Kaida West Taihu High-Performance Roll Production Base Construction Project,' which is expected to expand overall production capacity. The company reported capacity utilization rates of 93.04%, 106.23%, and 104.23% for 2023-2025, with sales-to-production ratios of 105.26%, 96.78%, and 100.10% respectively. For the first half of 2026, revenue was 225 million yuan, up 0.24% year-on-year, while net profit attributable to parent fell 9.42% to 33 million yuan. The company forecasts full-year 2026 revenue of 507.465 million yuan, net profit of 73.3723 million yuan, and non-recurring-adjusted net profit of 73.5963 million yuan, representing year-on-year growth of 6.35%, 3.56%, and 5.67% respectively.
Source report
On September 23, Kaida Heavy Industry, a new stock listed on the Beijing Stock Exchange, became the A-share market's lowest-priced IPO so far this year.
Business Overview
Kaida Heavy Industry specializes in the research, development, production, and sale of key components for steel rolling, including rolls and roll rings. The company primarily serves well-known domestic and international steel producers, such as:
- Domestic clients: Shandong Iron and Steel, Baosteel
- International clients: ArcelorMittal (安米集团), EVRAZ, JSW, British Steel, POSCO Holdings (浦项控股)
Fundraising Project
The company's fundraising project is the "Kaida West Taihu High-Performance Roll Production Base Construction Project." Once fully operational, the project is expected to expand the company's overall production capacity.
Capacity Utilization and Sales Rates (2023–2025)
| Year | Capacity Utilization Rate | Production-to-Sales Ratio | |------|---------------------------|---------------------------| | 2023 | 93.04% | 105.26% | | 2024 | 106.23% | 96.78% | | 2025 | 104.23% | 100.10% |
Financial Performance
First Half of 2026
- Revenue: RMB 225 million, up 0.24% year-on-year
- Net profit attributable to parent company: RMB 33 million, down 9.42% year-on-year
Full-Year 2026 Forecast
| Metric | Forecast Value (RMB) | Year-on-Year Growth | |--------|----------------------|----------------------| | Revenue | 507.465 million | +6.35% | | Net profit attributable to parent company | 73.3723 million | +3.56% | | Net profit after deducting non-recurring gains/losses | 73.5963 million | +5.67% |
(Source: China Securities Journal · China Securities金牛座)
Source
东方财富网-公司资讯Eastern
Part of this Story
Kaida Heavy Industry surges up to 702% on Beijing Stock Exchange debut at year's lowest IPO price