YSX Tech Co., Ltd. (YSXT) Plans to Raise $6 Million in November 22nd IPO

YSX Tech Co., Ltd. (YSXT) plans to raise $6 million in an initial public offering on Friday, November 22nd, IPO Scoop reports. The company will be issuing 1,300,000 shares at $4.00-$6.00 per share.

In the last twelve months, YSX Tech Co., Ltd. generated $58.5 million in revenue and $4.6 million in net income. The company has a market-cap of $110.4 million.

Kingswood Capital Partners served as the underwriter for the IPO.

YSX Tech Co., Ltd. provided the following description of their company for its IPO: “We, through the YSX Operating Companies, provide comprehensive business solutions to enterprise customers, mainly insurance companies and brokerages, in China. (Incorporated in the Cayman Islands) The YSX Operating Companies possess in-depth knowledge of the Chinese insurance industry accumulated from years of servicing their customers, and specialize in auto insurance aftermarket value-added services, software development and information technology services, as well as other scenario-based customized services, such as customer development services. For fiscal year 2023, the YSX Operating Companies provided the aforementioned services to a total of 52 clients, including 26 insurance company customers and 10 insurance brokerage customers, some of which are well-known established companies in China, such as PICC Property and Casualty Company Limited (“PICC”), China Ping An Property Insurance Co., Ltd (“Ping An”), CPIC (China Pacific Insurance (Group) Co Ltd (“CPIC”), and China United Insurance Group Company Ltd (“CUIG”). Currently, the YSX Operating Companies primarily operate in Xinjiang Province and Guangdong Province in China, where the majority of their customers are located. Note: Net income and revenue are in U.S. dollars for the fiscal year that ended March 31, 2024. (Note: YSX Tech Co., Ltd. filed an F-1/A dated Sept. 5, 2024, and disclosed that Kingswood Capital Partners is now the sole book-runner; US Tiger Securities is no longer involved with this IPO.) (Note: YSX Tech  Co., Ltd. filed its F-1 and disclosed the terms for its IPO on June 18, 2024: The company is offering 1.25 million shares at a price range of $4.00 to $6.00 to raise $6.25 million. Background: YSX Tech submitted confidential IPO documents to the SEC on Sept. 15, 2023.)   “.

YSX Tech Co., Ltd. was founded in 2011 and has 40 employees. The company is located at 401, 4 / F, Building 12, 1601 South Guangzhou Avenue, Haizhu District, Guangzhou, Guangdong, PRC and can be reached via phone at (86) 020-29842002 or on the web at https://www.ysxnet.com/.