环动科技为双环传动控股子公司，主营机器人关节高精密减速器的研发、设计、生产和销售的国家高新技术企业，为客户提供覆盖3-1000KG负载机器人所需的高精密减速器整体方案，产品包括RV减速器、精密配件及谐波减速器，RV减速器为公司主要产品，广泛应用于机器人、工业自动化等高端制造领域。1. Huandong Technology is the third newly accepted IPO company by the Shanghai Stock Exchange this year. 2. In this IPO, Huandong Technology intends to raise approximately 1.408 billion yuan, which will be used for the construction projects of an intelligent manufacturing base for precision reducers for siasun robots, the establishment of a research and development center for precision drives for siasun robots, to supplement working capital, and to repay bank loans. 3. After the spin-off listing is completed, Huandong Technology will still be included in the consolidated financial statements of Zhejiang Shuanghuan Driveline.
According to the Star Daily on November 26, Huandong Technology's Star IPO has recently been accepted, making it the third newly accepted IPO company by the Shanghai Stock Exchange this year.
In this IPO, Huandong Technology intends to raise approximately 1.408 billion yuan, which will be used for the construction projects of an intelligent manufacturing base for precision reducers for siasun robots, the establishment of a research and development center for precision drives for siasun robots, to supplement working capital, and to repay bank loans after deducting issuance expenses.
Huandong Technology is a subsidiary of Zhejiang Shuanghuan Driveline, focusing on the research, design, production, and sales of high-precision reducers for siasun robot joints. It is a national high-tech enterprise, providing customers with comprehensive solutions for high-precision reducers required for robots with loads ranging from 3 to 1000KG. The products include rotate vector (RV) reducers, precision parts, and harmonic drives, with rotate vector (RV) reducers being the main products, widely used in high-end manufacturing fields such as robotics and industrial automation.
The company's clients include Qianjiang Robot, Efort, Estun Automation, and other robot brands.
In terms of performance, from 2021 to 2023, the company's revenue was 91.4123 million yuan, 0.169 billion yuan, and 0.309 billion yuan, while the net income was 20.214 million yuan, 50.1783 million yuan, and 76.2629 million yuan, respectively.
Huandong Technology increased its capital and shares in January 2023, introducing seven investors including the National Manufacturing Fund, Advanced Manufacturing Fund, Yuhuan Guotou, Chun'an Zhehuan, Jiaxing Huansu, and indirectly held by Temasek, such as Springleaf and True Light.
It is worth mentioning that according to a previous announcement, after the spin-off listing is completed, Zhejiang Shuanghuan Driveline will still retain control over Huandong Technology, and Huandong Technology will still be included in the company's consolidated financial statements.
Minsheng Securities pointed out that this spin-off provides Harmonic Drive with more diversified financing channels, helping Harmonic Drive seize opportunities in the siasun robot&automation industry for rapid development, thereby accelerating the localization process of key components for robots.
