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    002024   CNE000001KF2

SUNING.COM CO., LTD.

(002024)
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Chinese smart car supplier PATEO in talks to raise $147 million

09/29/2020 | 05:45am EDT

Chinese smart vehicle supplier Shanghai PATEO Electronic Equipment Manufacturing Co is in talks with 22 potential investors to raise 1 billion yuan (114.3 million pounds) before its listing on the STAR market, a company spokesman told Reuters.

The Shanghai-based company raised 700 million yuan in its latest funding round in April at a 4.6 billion yuan valuation.

Its investors include Xiaomi Corp, Dongfeng Motor Group and Suning.Com, the spokesman said, adding the new funding would be used for research and development.

The 11-year-old company is looking to apply for a STAR board listing in Shanghai by the end of this year.

PATEO's products include sensors for autonomous driving as well as intelligent in-car software.

Its clients include Volkswagen AG, FAW Group and Dongfeng Motor.

As the global auto industry pursues an electric and intelligent future, Chinese automakers and tech companies are developing technologies to make vehicles more connected and autonomous.

China said last year it hopes intelligent vehicles account for 30% of all new sales by 2035.

Bloomberg reported the fundraising on Tuesday.

(Reporting by Yilei Sun and Brenda Goh; editing by Jason Neely)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DONGFENG MOTOR GROUP COMPANY LIMITED -4.36% 7.02 End-of-day quote.-22.35%
SUNING.COM CO., LTD. -9.98% 5.59 End-of-day quote.-27.50%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.41% 6.43016 Delayed Quote.-1.40%
VOLKSWAGEN AG -0.67% 223.65 Delayed Quote.47.72%
XIAOMI CORPORATION -0.71% 27.95 End-of-day quote.-15.81%
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Financials
Sales 2021 292 B 45 602 M 45 602 M
Net income 2021 1 307 M 204 M 204 M
Net cash 2021 450 M 70,3 M 70,3 M
P/E ratio 2021 53,3x
Yield 2021 0,51%
Capitalization 51 006 M 7 972 M 7 974 M
EV / Sales 2021 0,17x
EV / Sales 2022 0,14x
Nbr of Employees 45 598
Free-Float 28,5%
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Technical analysis trends SUNING.COM CO., LTD.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 12
Average target price 9,32 CNY
Last Close Price 5,59 CNY
Spread / Highest target 109%
Spread / Average Target 66,7%
Spread / Lowest Target 25,2%
EPS Revisions
Managers and Directors
NameTitle
En Long Hou President
Jin Dong Zhang Chairman
Xiao Ling Wang Chairman-Supervisory Board
Xian Ming Fang Independent Director
Shi Ping Liu Independent Director
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