PVTIME – On 4th September 2023, Guangzhou Sanjing Electric Co.,Ltd. (Sanjing Electric/SAJ), a manufacturer and supplier of motor drive and control technology, renewable energy conversion, transmission and storage solutions, disclosed that its files for a 1.204 billion yuan IPO have been approved by Shanghai Stock Exchange(SSE) and will go public within 6 months.
SAJ submitted a listing prospectus to the SSE on the Main Board on 1st July 2022. The plan is to raise1.204 billion yuan, of which 677 million yuan will be allocated to an intelligent manufacturing project with an annual output of about 470,000 units of digital energy products and systems, 277 million yuan for the construction of an R&D centre, 99.514 million yuan for upgrading global marketing and services networks, and 150 million yuan for replenishing working capital.
A sizeable portion of the company’s sales are made overseas, as SAJ primarily sells its grid-connected PV inverters, energy storage inverters and systems to Italy, the Netherlands, Spain, Belgium, Australia, Brazil, and other countries. A sizeable portion of the company’s sales are made overseas.
Public data reveals that SAJ achieved operating incomes of 426 million yuan in 2020, 716 million yuan in 2021, and 1.551 billion yuan in 2022. And its net profit in these three years was 55.5 million yuan, 98.6889 million yuan, and 286 million yuan, respectively.
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