A-share subscription | Jingchuang Electric (920035.BJ) opens subscription for the research and production of intelligent control and testing instruments and equipment products.

On November 18th, Jingchuang Electric (920035.BJ) started its subscription with an issue price of 12.10 RMB per share, with a maximum subscription limit of 650,700 shares. The price-earnings ratio is 13.47 times, and it belongs to the North Stock Exchange, with Guotai Haitong as its sponsor. According to the prospectus, the company's main business is the research and development, production, and sale of cold chain equipment intelligent controllers, pharmaceutical and food cold chain monitoring recorders, refrigeration heat pump testing instruments, and environmental particulate detection instruments, as well as providing IoT and cloud-based system solutions. The products and services provided by the company mainly include intelligent controllers for cold chain equipment, energy-saving electric control boxes, industrial chillers controllers; IoT recorders, digital temperature tags; infrared leak detectors, smart diverter meters, smart vacuum pumps, as well as IoT, cloud computing and other services. The company's products and services are mainly used in the refrigeration heating ventilation air conditioning (HVAC/R), pharmaceutical, food and environmental testing industries or areas. The company has accumulated rich experience in the research and development and production of intelligent control and detection instrument products, owns a specialized cold chain IoT industrial base, and has subsidiaries in Shenzhen, Nanjing, Shanghai, Xuzhou in China, as well as in the United States, United Kingdom, Brazil, and Thailand, with business spanning multiple countries and regions globally. As of September 15, 2025, the company has 205 authorized patents, including 28 invention patents, 33 utility model patents, and 189 design patents; 91 software copyrights, and 185 registered trademarks. The company has won multiple awards, including second prize for scientific and technological progress from the Ministry of Education, third prize for technological progress at the provincial level in Jiangsu, and second prize for scientific and technological progress from the Jiangsu Light Industry Association, among others. The awarded technologies/projects include "large-scale networking technology and industrial application based on ubiquitous sense control terminal," "cold chain temperature control key equipment and system," and "key technologies for vaccine cold chain system platform based on multi-source data perception." In addition, the ECO cloud computing energy-saving control system has been certified by the National Compressor Refrigeration Equipment Quality Supervision and Inspection Center of Hefei General Electromechanical Products Testing Institute, effectively achieving a 24.39% energy saving for cold storage, contributing to the realization of the "dual carbon" target. The company has passed certifications such as GB/T19001-2016 quality management system, GB/T24001-2016 environmental management system, GB/T45001-2020 occupational health and safety management system, and the Jingchuang Cold Cloud platform has passed the service management system certification based on ISO/IEC2000-1. Overseas sales products have passed CE, CB, ETL certifications, and comply with EU RoHS standards. In terms of finances, in the fiscal years 2022, 2023, 2024, and January-June 2025, the company achieved operating revenues of approximately 396 million RMB, 435 million RMB, 499 million RMB, and 249 million RMB respectively; during the same period, the company's net profits were approximately 48.74 million RMB, 55.35 million RMB, 58.91 million RMB, and 28.34 million RMB respectively.