Chengdu Reddy Smart Drive Technology Co., LTD. (referred to as: Reddy Smart Drive) applied for Shenzhen Stock Exchange GEM IPO review status change to “submit registration”. Sinolink Securities is its sponsor and intends to raise 357.21 million yuan.

According to the prospectus, Reddy Intelligent Drive is a high-tech enterprise committed to the research and development, production and sales of key components of automation equipment transmission and braking systems. The company’s products include precision transmission parts, electromagnetic brakes and harmonic reducer, etc., which are widely used in CNC machine tools, robots, elevators and other fields.

The company relies on outstanding technology research and development advantages, product quality advantages and rapid response service advantages, has been recognized by customers. The company’s customers are mainly global or domestic well-known enterprises in the downstream field, such as the domestic industrial automation leading enterprise Huichuang Technology, the world’s famous elevator manufacturers Hitachi elevator, Otis elevator and Toshiba elevator, the international well-known transmission parts enterprises Germany Lingfei, Japan Toyama machinery, the United States Fenner transmission and so on.

In view of the competitive characteristics of the industry, the company’s competitive strategy is mainly reflected in the client side and the product side. On the client side, the entry threshold of downstream customers is high, and the certification is difficult. With the technical advantages of efficient customized design and product quality advantages, the company has passed the long-term supply verification of many industries, locking the leading quality customers in the industry, and establishing stable cooperative relations.

Product side, based on the “two wings of smooth + core upgrade” business strategy. “Two wings stable” refers to the precision transmission parts and electromagnetic brake products as the two wings of the company’s steady development, focusing on the development of key customers, optimizing and upgrading the products in existing application areas, while constantly developing new products, entering new application areas, and relying on customer advantages and quality advantages, steadily improving the market share at home and abroad. “Core upgrade” refers to the harmonic reducer as the core of the future industrial upgrading of the company, accelerate the process of independent research and development, complete the certification of high-quality customers in the industry as soon as possible, carry out mass production, and realize the major improvement of the company’s products and profits.

In terms of finance, in 2020, 2021, 2022 and the first half of 2023, RiDI Intelligent Drive achieved operating income of about 410 million yuan, 567 million yuan, 587 million yuan and 295 million yuan, respectively. In the same period, the company achieved a net profit of 48.5651 million yuan, 69.5420 million yuan, 81.5013 million yuan and 53.329,800 million yuan, respectively.