The new wheat machinery has been accepted for listing on the Shanghai Stock Exchange main board IPO, making it a leading enterprise in the domestic commercial baking equipment industry.

On June 30th, SINMAG Machinery (China) Co., Ltd. (referred to as SINMAG Machinery) submitted its IPO application to the Shanghai Stock Exchange. Zhongde Securities is the sponsor institution, with plans to raise 539 million yuan. According to the prospectus, the company integrates research and development, production, sales, and service of commercial baking equipment. The equipment produced is used in the full production process of various types of baked goods including bread, toast, cake, cookies, pizza, and pastries. The company is one of the few in China to achieve full self-production of all product categories and comprehensive coverage of the entire process. From small-scale production equipment to large-scale automated production lines, from mass production to customized design, the company can provide corresponding solutions. As a leading enterprise in the domestic commercial baking equipment industry, the company has a relatively comprehensive sales network both domestically and internationally, covering nearly a hundred countries or regions worldwide. The commercial baking equipment produced by the company is divided into machine-type equipment with machine operation as the main feature, oven-type equipment with heating elements, proofing equipment with proofing as the main function, and other commercial baking equipment. In addition, the company also produces other kitchen equipment. The company is in the top tier of the domestic commercial baking equipment industry. In 2024, the market size of the domestic commercial baking equipment market is approximately 49.6 billion yuan (data source: iiMedia Research), with the company holding a market share of approximately 8.30% in the domestic commercial baking equipment market, leading in market share. The global commercial baking equipment market is relatively fragmented, lacking a single large enterprise dominating the market. The company has a certain market position and comprehensive competitiveness in the global market. It is one of the few enterprises to achieve full self-production and comprehensive coverage of all product categories, with reliable product quality and reasonable prices. Some downstream customers, such as Pizza Hut, still choose the company's products for one-stop shopping and cost control. In addition, SINMAG first participated in the IBA exhibition (one of the most professional international baking industry exhibitions) in 1989, and has continued to appear in renowned exhibitions globally, enjoying a certain level of brand awareness in international markets. Financially, in 2023, 2024, and 2025, the company achieved operating revenues of approximately 973 million yuan, 1.033 billion yuan, and 1.074 billion yuan respectively. During the same period, net profits were approximately 183 million yuan, 201 million yuan, and 193 million yuan respectively.