|
|
 | | | |
- close
- close
- close
- close
China Electric Motor (CELM) |
Suggest other news sources for this topic
WIKI ANALYSIS|
Error creating thumbnail: convert: unable to open image `/home/wikinvest/src_live_2/mediawiki/images/c/ce/IPO.jpg': No such file or directory @ blob.c/OpenBlob/2480. convert: missing an image filename `/home/wikinvest/src_live_2/mediawiki/images/thumb/c/ce/IPO.jpg/40px-IPO.jpg' @ convert.c/ConvertImageCommand/2800. |
This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
China Electric Motor (CELM) (NASDAQ:CELM) designs, produces, and markets micro-motor products. These products are incorporated into consumer electronics, automobiles, power tools, toys and household appliances. [1]
The company's initial public offering (IPO) of stock was filed on 21 October 2009 and began trading on an exchange on 25 January 2010. With a proposed offer price of $5.50 - $6.50, the actual offer price was also $4.50. The company offered 5.0 million shares. Major shareholders before the IPO were Excel Profit Global Group Limited, with 65.5% ownership, and Richard Rappaport, with 8.8% ownership. [1]
For the nine months ended 30 September 2009, Andatee China Marine Fuel reported $63.3 million in total revenue, an increase of 61.8% from $39.1 million for the nine months ended 30 September 2008. The company had $8.34 million in net income, up 38.3% from a net income of $6.03 million for nine months ended 30 September 2008. Home Appliance represented 65.1% of total revenue, auto parts represented 21.7% of total revenue, and digital motor represented 13.2% of total revenue. [1]
Company background
Shenzhen YuePengCheng Motor Company is a wholly foreign-own enterprise, which is engaged in the designing, manufacturing, marketing and sales of its “Sunna” brand name micro-motor products. The company has its own professional sets of production equipment and specialized check-out facilities, the products with good performance and reasonable prices have been sold at home and abroad. By September 2009, we had a total of approximately 900 employees, with 200 of them are engineers, technicians, quality control staffs. The products mainly used as the supporting parts in home appliances, cars, industrial automation, and digital Control machine tools. Since the commencement of our manufacturing operations in 1999, we have expanded our product offerings to produce a range of Alternating Current (“AC”), Direct Current (“DC”) micro-motors. We currently produce products in 28 different series that include more than 1,200 different product specifications. Our various types of motors are designed for incorporation into a variety of applications, including: (1) Home appliances Motors: including hairdryers, air conditioners, paper shredders, soy milk makers, juice makers, electric fans, heaters and massagers. (2) Vehicles Motors: including automobile air conditioners, windshield wipers, automatic window mechanisms and ignitions. (3) Digital controls Motors: including devices used to start mechanical equipment and other larger motors. (4) Tool Motors: Mainly used in lawn mowers, trimmers, branch cutters, channeling machines and other garden tools. The company's products have passed ISO9001, 2000 quality system certification and 3C certification testing. It has been granted as high-tech enterprises in Shenzhen and China's private enterprises recognized brands. The Company’s manufacturing building is located in the High new-tech industrial Park, which is a modern industry park of integrating of the production, warehouse and office. It contains a production workshop area of about 15,000m2. The facility includes a mold and molding workshop, a semi-finished products workshop, an assembly workshop and a finished products testing workshop. It also has an independent finished product warehouse and a raw material warehouse.
On May 6, 2009, SRKP 21, Inc. a Delaware corporation (i) closed a share exchange transaction, described below, pursuant to which SRKP 21 became the 100% parent of Attainment Holdings, a British Virgin Islands corporation（Attainment Holding’s wholly-owned subsidiary Luck Loyal International Investment Limited, Hong Kong corporation (“Luck Loyal”) and Luck Loyal’s wholly-owned subsidiary Shenzhen YuePengCheng Motor Co., Ltd） (ii) assumed the operations of Attainment Holdings and its subsidiaries, including Shenzhen YPC, and (iii) changed its name from SRKP 21, Inc. to China Electric Motor, Inc. We have applied for the listing of our common stock on the NASDAQ Global Market under the symbol “CELM”, and our shares of common stock will be listed or quoted for trading.
Product
Certificate
ISO9001, 2000 quality system certification and 3C certification testing
Second Quarter 2010 Financial Highlights
-Total revenue increased by 13.3% year-over-year to $25.3 million, compared to $22.3 million in the second quarter of 2009.
-Net income was $4.1 million, a 93.2% increase compared to net income of $2.1 million in the second quarter of 2009.
-Basic and diluted earnings per share were $0.20 versus basic and diluted earnings per share of $0.18 and $0.17 in the second.
References
| |||||||
