China Securities Regulatory Commission approves Hongdi Technology's registration for IPO on the tech innovation board.

On September 13th, the China Securities Regulatory Commission issued the "Reply on Approving the Initial Public Offering of Shares of Wuhan Gangdi Technology Co., Ltd.". It is reported that Gangdi Technology plans to list on the Shenzhen Stock Exchange's ChiNext board, with Zhongtai as the IPO sponsor, aiming to raise 656.04 million yuan. According to the prospectus, Gangdi Technology is a high-tech enterprise and a national-level specialized and new "little giant" enterprise focusing on the research and development, production, and sales of products in the field of industrial automation. Its products mainly include automation drive products, intelligent control systems, and management system software. Currently, the products are mainly used for the single-machine automation control of various medium and large-scale equipment, as well as the automation control of equipment production operations. Industrial automation can be mainly divided into equipment single-machine automation, equipment production operation process automation, and enterprise production management automation according to the progressive order of automation levels. The company's automation drive products are one of the core driving components to achieve equipment single-machine automation. The intelligent control system is based on equipment single-machine automation to achieve remote or automatic control of equipment or equipment groups, thus realizing the automation of equipment production operation processes. At the same time, based on the demand of customers in the aforementioned two business areas for production management automation and informatization, the company has launched management system software combining its own technical foundation to help customers achieve production management automation. At present, the revenue from management system software is relatively small, but it is one of the directions for the company's future business development. Gangdi Technology's downstream customers cover various industries such as ports, shield tunnels, cement, construction machinery, railways, metallurgy, logistics, ships, fans, pumps, and petrochemicals. The company's products have been adopted by many well-known domestic and foreign enterprises such as Yangpu Port, Ningbo Zhoushan Port, Shanghai Port, Guangzhou Port, Shenzhen Port, QINGDAO PORT, Xiamen Port, Beibu Gulf Port, Jiangsu Lianyungang Port, China Railway Engineering Equipment, China Railway Construction Heavy Industry Corporation Limited, CNBM, Huaxin Cement, and China Railway Group, forming a good market reputation.