Jiangsong Technology's IPO Accepted, Aims to Raise 10.53 Billion Yuan

On June 14, Wuxi Jiangsong Technology Co., Ltd. (Jiangsong Technology) announced that its initial public offering (IPO) application for the ChiNext board has been accepted by the Shenzhen Stock Exchange. The company aims to raise approximately 10.53 billion yuan through this IPO, with Guotai Junan Securities serving as the underwriter.

Jiangsong Technology is a prominent manufacturer of high-end intelligent equipment, focusing on the research, development, production, and sales of high-efficiency photovoltaic (PV) cell intelligent automation equipment. The company's product portfolio includes a range of equipment for key PV cell production processes such as diffusion annealing, PECVD, and wet processing. These products enable customers to achieve intelligent and efficient full-process automation solutions.

Jiangsong Technology's market leadership is underscored by its ability to provide comprehensive, integrated solutions for PV cell automation. The company's products cover all major production stages, making it one of the few domestic manufacturers capable of offering a full suite of automation equipment for PV cell production. According to the China Photovoltaic Industry Association, Jiangsong Technology held the top market share in the domestic and global PV cell automation equipment sector in 2022. The company is also recognized as a benchmark enterprise in the industry, as highlighted in the 2022-2023 China Photovoltaic Industry Annual Report.

Financially, Jiangsong Technology reported significant growth over the past three years. In 2022, 2023, and 2024, the company achieved revenues of approximately 8.07 billion yuan, 12.37 billion yuan, and 20.19 billion yuan, respectively. Correspondingly, net profits for these years were 883.46 million yuan, approximately 1.31 billion yuan, and approximately 1.84 billion yuan.

The acceptance of Jiangsong Technology's IPO application marks a pivotal moment for the company. It signifies market recognition of the company's technological prowess and market standing, providing a robust financial foundation for future growth. As global efforts to transition to renewable energy drive increased demand for PV cells, Jiangsong Technology is poised to leverage this trend and further strengthen its leadership in the intelligent automation equipment sector.