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Card maker holds all the aces after successful IPO
By Lu Xiaofeng and Fei Lai |
August 29, 2011, Monday
|
Print Edition
Print Edition
SHANGHAI-BASED Yaoji Poker Co in August became the first playing card maker nationwide to list on the Small and Medium Enterprise Board in Shenzhen, Guangdong Province.
In addition it was also the sixth enterprise in Jiading District to undergo an initial public offering, raising 494 million yuan (US$55.7 million) from 23.5 million issued shares.
Yao Shuobin, general manager of Yaoji Poker, said the money would be used to build a new manufacturing base with an annual output of 600 million packs of playing cards.
It has taken Yaoji Poker more than two decades from setting up a factory in Jiading to being listed in Shenzhen.
"The IPO is a milestone for our company. We will continue to develop the company and return the profits to the stockholders," Yao said. "I'm confident about our future."
Yaoji Poker mainly deals with the design, production and sales of playing cards. Last year, it yielded 700 million packs of playing cards, ranking top among all the companies in this field. Its sales revenue reached 567 million yuan last year with a net profit of 71.05 million yuan.
For enterprises like Yaoji Poker it is crucial to foster a broad sales network and to constantly expand its market share. At present, the sales network of the company has already covered more than 20 provinces and cities including Heilongjiang, Liaoning, Jilin, Sichuan and Jiangsu.
Besides, Yaoji Poker believes that quality paper, advanced polishing technology and an automated production line set it apart from its competitors.
In the future, Yaoji Poker aims to reach an annual output of 1.3 billion packs of playing cards, which means that everyone in China can own one pack. Their aim is based on company projections that the annual consumption of playing cards in China will reach 7 billion packs over the next five years, Yao said.
Speaking of the threat posed by online gaming, general manager Yao said, "Despite the popularity of the online games, the number of people playing cards has increased instead of decline. We have confidence in ourselves."
In addition it was also the sixth enterprise in Jiading District to undergo an initial public offering, raising 494 million yuan (US$55.7 million) from 23.5 million issued shares.
Yao Shuobin, general manager of Yaoji Poker, said the money would be used to build a new manufacturing base with an annual output of 600 million packs of playing cards.
It has taken Yaoji Poker more than two decades from setting up a factory in Jiading to being listed in Shenzhen.
"The IPO is a milestone for our company. We will continue to develop the company and return the profits to the stockholders," Yao said. "I'm confident about our future."
Yaoji Poker mainly deals with the design, production and sales of playing cards. Last year, it yielded 700 million packs of playing cards, ranking top among all the companies in this field. Its sales revenue reached 567 million yuan last year with a net profit of 71.05 million yuan.
For enterprises like Yaoji Poker it is crucial to foster a broad sales network and to constantly expand its market share. At present, the sales network of the company has already covered more than 20 provinces and cities including Heilongjiang, Liaoning, Jilin, Sichuan and Jiangsu.
Besides, Yaoji Poker believes that quality paper, advanced polishing technology and an automated production line set it apart from its competitors.
In the future, Yaoji Poker aims to reach an annual output of 1.3 billion packs of playing cards, which means that everyone in China can own one pack. Their aim is based on company projections that the annual consumption of playing cards in China will reach 7 billion packs over the next five years, Yao said.
Speaking of the threat posed by online gaming, general manager Yao said, "Despite the popularity of the online games, the number of people playing cards has increased instead of decline. We have confidence in ourselves."
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