Zhejiang Dahua Technology (大华股份, 002236.SZ), an AI and high-tech gadget producer, announced on March 21 that its robotic subsidiary iRayple (华睿科技) will introduce a consortium of external investors for the first time.
iRayple, which is receiving pre-IPO tutoring, will add eight investors to its shareholding structure, including Zhejiang Lonsen Group (600352.SH), Gotion High-Tech (002074.SZ), Wuxi Innolead Capital Management Co., Ltd and Zhu Jiangming, chairman of EV brand Leapmotor.
Together they will pour 260 million yuan (US$38 million) into iRayple for a 12.58% stake in the company.
In an exchange filing, the parent Dahua said with the involvement of Gotion and others, the new shareholders will draw on their excellent industry and management experience to provide valuable advice for iRayple to aid its development.
Dahua also informed existing shareholders beforehand and promised them that the cash injection won’t dilute their ownership and operation control of iRayple.
Dahua opted for a stock split in September 2021, when it announced a plan to siphon off iRayple, an affiliate focused on industrial AMR and computer vision products, in a bid to bolster its competitiveness and profitability.
Following the divestment, iRayple will list on domestic stock exchanges, said Dahua then, without elaborating.
Public information shows that iRayple specializes in the design, development and sale of computer vision, industrial AMR products and solutions.
It seeks to assist clients in building digital workshops and smart factories, lifting their smart manufacturing capabilities, and propelling AI industrialization and interconnected industrial digitalization across a spectrum of sectors.
Its products are mainly adopted by logistic, 3C, photovoltaic, lithium-ion battery and textile industries.
As of the third quarter ending September 30, 2022, iRayple has a total asset value of 765 million yuan and a debt of 580 million yuan.
In 2021, the company recorded a net profit of 62.12 million yuan on revenue of 680 million yuan.
In the first three quarters of 2022, it reported a net profit of 4.7 million yuan on an income of 490 million yuan.