Toshiba's IPO on the Shenzhen Stock Exchange has been terminated, but the company's market share in lithium battery module PACK equipment continues to rise.

On July 11th, Shanghai Sikeqi Intelligent Equipment Technology Co., Ltd. (referred to as Sikeqi) saw its IPO review status on the Shenzhen Stock Exchange change to termination. This decision was made because Shanghai Sikeqi Intelligent Equipment Technology Co., Ltd. and the sponsoring institution withdrew their application for IPO issuance and listing. According to the Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (2024 Revision), Sikeqi's IPO review was terminated. According to the prospectus, Sikeqi is a high-tech enterprise specializing in the research, development, production, and sales of intelligent equipment. The company focuses on the research and innovation of key technologies in the field of intelligent manufacturing, aiming to provide customers with comprehensive intelligent manufacturing solutions centered around intelligent equipment. The company's core focus is on intelligent equipment for power and energy storage batteries, covering lithium battery manufacturing processes such as cell assembly, module molding, PACK packaging, and battery recycling and dismantling, thereby empowering the innovative high-speed development of lithium battery intelligence manufacturing. After years of hard work, the company has become a leading system integrator in the field of new energy intelligent equipment. In 2021, the company ranked second in the market share of lithium battery module PACK equipment. The company has established long-term stable partnerships with leading lithium battery companies such as Contemporary Amperex Technology, CALB, Eve Energy Co., Ltd., Rui Pu Energy, as well as well-known new energy vehicle brands like Geely, SAIC, and Leapmotor. It is worth noting that non-standard customized equipment in intelligent equipment requires in-depth industry understanding, technical expertise, process accumulation, as well as professional supply chain and project management capabilities due to significant downstream application variations in the industry. Cross-industry expansion is challenging for most companies engaged in non-standard customized equipment research and production, and therefore, their market position mainly reflects in the market share of specific segments. Segmented according to downstream applications, the company's products mainly focus on new energy intelligent equipment, with the core product being lithium battery module PACK equipment. According to GGII research data, the company's market share in the lithium battery module PACK equipment industry ranked fifth in 2019 and rose to second in 2021 with increased competitiveness. As of December 31, 2022, the company had a total of 392 research and development personnel, accounting for 38.13% of the total number of employees. Starting in 2020, the company has been actively expanding into intelligent manufacturing applications in the fields of energy storage, automotive and components, construction machinery, household appliances, and intelligent logistics. The company continues to develop new equipment that meets customer needs. Additionally, being in the intelligent equipment industry, with the ongoing transformation and upgrading of the manufacturing industry and the increasing popularity of automation and intelligence, China's intelligent equipment industry as a whole is expected to continue growing, with the downstream applications expanding further. According to GGII estimates, by 2025, China's intelligent equipment market size is expected to reach around 4.95 trillion yuan, close to 5 trillion yuan. In terms of segmented fields, in 2021, the market size of China's lithium battery cell equipment and module PACK equipment reached 58.8 billion yuan and 8 billion yuan respectively, with year-on-year growth exceeding 100%. GGII predicts that by 2025, the market size of lithium battery cell and module PACK equipment is expected to exceed 120 billion yuan and 20 billion yuan respectively. The lithium equipment industry is still in a high-speed development stage, with broad market prospects. Financially, Sikeqi achieved revenues of approximately 275 million, 859 million, and 1.145 billion yuan in 2020, 2021, and 2022 respectively. Net profits were 10.0793 million, 69.3001 million, and 91.2998 million yuan respectively.