Shenzhen Sine Electric Co., Ltd.(hereinafter referred to SINEE ) , stock code: 688395, was listed on the Science and Technology Innovation Board of Shanghai Stock Exchange on April 29th, 2021. SINEE got off to a good start on the first day of trading, opening at 40.13 yuan, up 151.3% from the issue price of 15.95 yuan, and trading as high as 42.08 yuan. As of the close, the stock at 35.82 yuan up 124.6%, the daily turnover of 550 million yuan, the turnover rate of 83.41%.
As one of the earliest enterprises engaged in the research and production of inverter in China, SINEE is a high-tech enterprise specializing in the research and development, production and sales of motor drive and control systems in the field of industrial automation. Though years of development, SINEE has established many key core technology platforms, such as high-performance variable frequency vector control technology, high-precision servo drive technology, embedded computer control technology, power electronics application technology, etc., which has provided abundant professional system solutions for mechanical equipment manufacturers and electronic control system integrators.
Since its establishment, SINEE has always adhered to the strategy of leading technology and product innovation, as well as the business philosophy of "Technology, Quality, Service". After long-term independent research and development of technology and products, SINEE has mastered the core technology of frequency inverter and servo system. Moreover, SINEE closely follows the market demand, develops products and customized solutions for industry customers on the basis of common products, which are widely used in many industries. For example, lifting machinery, logistics equipment, petrochemical industry, wire and cable, plastic machinery, textile machinery, woodworking machinery, air compressor, CNC machine tools, printing machinery, packaging machinery, metal calendering, building materials, ceramic equipment, fan and water pump and other industries.
SINEE is not only the member unit of China National Technical Committee for Standardization of Frequency Conversion Speed Regulation Equipment, but also the governing unit of Inverter Branch of China Electrical Equipment Industry Association. Besides, SINEE is also the drafting and review unit of China national standard GB/T 12668 "speed regulating electrical drive system" "electromagnetic compatibility requirements and specific test methods" and "safety requirements: electrical, heat and energy". As an influential enterprise in the field of industrial automation in China, SINEE has been recognized as the Engineering and Technology Research Center of High-performance Inverter and Servo System in Guangdong Province, and has been honored as "Shenzhen Famous Brand", "Shenzhen Backstop Enterprise with Strong Quality", and "The Fifth Shenzhen Top 100 Small and Medium Enterprises with Independent Innovation".
In this initial public offering, SINEE sold 21.5 million shares at a price of 15.95 yuan each, with a total share capital of 86 million shares and a total capital raised by the new shares of 342.925 million yuan. These funds raised for investment projects are mainly used for technical upgrading and expansion of production base, R&D center construction, marketing and service network construction, as well as replenishment of working capital.
The purpose of fundraising project is to optimize and upgrade the existing business based on the existing main business and combine with the future market development trend and strategic planning.
Among them, the "production base technical upgrading and expansion project" after completion, which can break through the existing capacity bottleneck on the company's development restrictions to meet the growing market demand for products. The construction of Wuhan production base will improve the automation and information level of manufacturing links and make the delivery of high quality customer orders become the core competitiveness.
After the completion of the "R&D Center Construction Project", the R&D strength will be further improved, and the independent innovation ability will be enhanced.
As for the completion of the "marketing and service network construction project", SINEE's marketing and service network will be more perfect, which will help to expand the market coverage and get closer to customers more deeply, and improve its marketing ability and service level.
SINEE will take this Sci-Tech innovation board listing as an opportunity to enhance its comprehensive competition in technology, products, quality, marketing network, brand, efficiency and supply chain. What’s more, SINEE will continue to adhere to the technology leading and product innovation strategy, promote product innovation and industrial application process, and strive to develop into a leading domestic industrial automation products manufacturing enterprises.
Address : Building 7, Antuoshan Hi-tech Industrial Park, Xinsha Road, Bao'an District, Shenzhen
Email : firstname.lastname@example.org
Tel : 400-601-9298
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