float off to a good start

Wonhe listed yesterday at 20c.
Wonhe is an IT hardware float product developer, based in Shenzhen. Shenzhen is the “silicon delta” of China. The CEO, “Jack” Tong, is well‐known in the local industry.
Wonhe has a large team of developers who develop and write code for products. The products are manufactured by an independent contract manufacturer and distributed by another third party.
WMC produces 3 products
WMC’s first product sales were in 2011. At the end of 2013, it ceased sales of its Home Media Centre (HMC) and focussed on developing new products to meet increased specifications.
WMC began sales of its new model HMC 720 in October 2014. Its second product, an intelligent domestic router, came to the market in March 2015 and its third product, a commercial router, in June 2015.
WMC is currently developing a computer set‐top box (PC‐STB), which combines the system architecture of a digital set‐top box and a multimedia computer. The PC‐STB features wireless remote control and integrates a range of multimedia application requirements into a single device.
WMC is currently researching and developing seven other hardware products, including a domestic mini‐ terminal server, minicomputer, All‐In‐One PC, tablet and Android smartphone.
WMC is seeking to list on the ASX to, among other reasons, qualify itself to bid for major contracts in China as a main board listed company.
WMC was founded in 2010 and began its first sales in May 2011. At the end of 2013, it ceased sales and focused on developing new products. If began selling its first new product in October 2014, with subsequent products in March 2015 and June 2015.
WMC is currently profitable. Its Nasdaq filed accounts, translated into AUD by the investigating accountant, show that it had NPAT of $A6.3m for the half year to June 2015.
At 20c/share, WMC has 152m shares on issue for a market cap of $30m, compared with net assets on its balance sheet, as at 30 June 2015, of $45.9m and cash of $53.1m.

Oh yes, 135M shares held by chinese are all escrowed for 12 months.
Full year profits for 12 months to Dec 2015 available in Feb 2016.
Based on annualised June 15 6 months the company is priced at float of 2.4 times PE.
Incredibly cheap. This will imho get to $1, then we party.
cheers
OMG