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Chinese precision parts manufacturer ZJK Industrial files and sets terms for a $5 million US IPO

June 21, 2024
ZJK

ZJK Industrial, a Chinese manufacturer of precision fasteners and other parts for electronic devices, filed on Friday with the SEC to raise up to $5 million in an initial public offering.

The Shenzhen, China-based company plans to raise $5 million by offering 1 million shares at a price range of $4 to $6. At the midpoint of the proposed range, ZJK Industrial would command a market value of $305 million. The IPO float is just 1.6% of basic shares outstanding.

If the company raises less than $5 million, ZJK Industrial will be excluded from Renaissance Capital's IPO stats.

Operating through its consolidated subsidiaries in the PRC, ZJK specializes in the manufacturing and sale of precision fasteners, structural parts, and other precision metal products for new energy vehicles and intelligent electronic equipment, such as mobile phones, smart watches, drones, and 5G communication base stations. The company produced approximately 4.4 billion precision metal parts in 2023. Its customers include enterprises and their original equipment manufacturers in the consumer electronic and new energy vehicle industries, among others.

ZJK Industrial was founded in 2011 and booked $29 million in sales for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol ZJK. Revere Securities is the sole bookrunner on the deal.