Dings’ (鼎智科技, 873593.NQ), a domestic manufacturer of actuators, motors and other automation parts, began trading today on the Beijing Stock Exchange.
The company, headquartered in Changzhou, Jiangsu Province, issued 11.57 million shares at a price of 30.6 yuan (US$4.45) apiece, with a P/E ratio of 14.08.
It plans to raise 354 million yuan to fund the construction of its production base, develop its R&D center and supplement its working capital.
As of this writing, Dings’ was trading at 34.50 yuan per share, up 12.54% over the issue price.
According to the prospectus, Dings’ linear actuators are adopted by corporations like Mindray, Snibe Diagnostic, Idexx, Adaptas, Samsung in their industrial automation equipment.
Another of the company’s flagship products, a voice coil motor, is said to have broken the monopoly of foreign rivals and now applied at scale in Mindray’s ventilators.
Aside from linear actuators and voice coil motors, the firm’s offerings also include hybrid rotary stepper motor, hollow shaft stepper motor, brushless DC motor and other major components.
According to its website, Dings’ products can be found in many applications, with robotics being an important use case. It provides a range of steppers and brushless DC motors designed for robotic grippers, AGVs and other industrial automation equipment.
The company is anointed as a nationally and provincially recognized “specialized little tech giant” in manufacturing, an honor usually conferred on top-tier or promising hardware tech firms.
Dings’ posted 318 million yuan in revenue in 2022, up 63.99% year on year, with and net profit of 101 million yuan, 103.39% higher than the previous year.