Canrui Technology and Greer's IPOs go further

Recently, Canrui Technology and Greer have updated their IPO progress.

Canrui Technology is about to start subscription

On September 6, Shanghai Canrui Technology Co., Ltd. (hereinafter referred to as Canrui Technology) was approved for IPO registration on the Science and Technology Innovation Board; on September 28, its issuance announcement stated that the company’s public offering of shares was approximately 19.28 million shares, and the company’s total share capital after the issuance was approximately 77.11 million shares. The issuance price is 112.69 yuan per share, and online subscription will be conducted on September 30, 2022. The issuer is expected to raise total funds of approximately 2.172 billion yuan.

It is reported that Canrui Technology specializes in the R&D, design, packaging testing and sales of high-performance digital-analog hybrid integrated circuits and analog integrated circuits. Its main products and services are smart sensor chips, power management chips and packaging and testing services.

Among them, power management chips mainly include screen bias driver chips, flash backlight driver chips, LED lighting driver chips, and power driver chips. From 2019 to 2021, the revenue from power management chips was 79.2751 million yuan, 142.1359 million yuan, and 280.5886 million yuan respectively, accounting for 41.44%, 49.87%, and 52.55% of the revenue respectively. It is a major source of revenue for Canrui Technology.

Currently, Canrui Technology's products cover many well-known domestic and foreign brand customers, including smart home brands such as Gree, Midea, and Haier, wearable device brands such as Edifier and JBL, smart security brands such as Hikvision, industrial equipment brands such as Danfoss and INVT, well-known mobile phone brands in the industry such as Xiaomi, Transsion, Samsung, LG, OPPO, VIVO, and Lenovo, as well as smart hardware ODM companies such as Wingtech, Longcheer, Huaqin, and Zhongnuo.

According to the prospectus issued by Canrui Technology, Canrui Technology plans to use the funds raised for the following projects:

Greer Beijing Stock Exchange Meeting

On September 28, at the 47th review meeting of the Beijing Stock Exchange in 2022, Greer Digital Technology Co., Ltd. (hereinafter referred to as: Greer) successfully passed the meeting.

It is reported that Greer is mainly engaged in the research and development, production and sales of lighting products and magnetic devices. Among them, lighting products include LED lamps and LED lighting product components. In addition, Greer is actively expanding its smart city lighting engineering business. It currently has the national first-level qualification for professional contracting of urban and road lighting, the second-level qualification for professional contracting of electronic and intelligent engineering, the third-level qualification for general contracting of municipal public engineering construction, and the second-level qualification for professional contracting of fire protection facility engineering construction.

From 2019 to 2021, Greer's main business income composition is as follows:

For this IPO, Greer plans to raise approximately 103 million yuan, which will be used for intelligent manufacturing base construction projects, R&D center construction projects, and supplementary working capital.

Among them, the smart manufacturing base construction project will add about 50 sets of major production equipment, with an annual output of about 20,000 sets of smart street lighting products, about 110,000 sets of industrial and special lighting products, about 50,000 sets of health lighting products, and about 720,000 sets of inductance transformer products. The company pointed out that in 2021, the lighting business and magnetic device production capacity utilization rates were 101.97% and 119.48% respectively, and the production capacity was saturated, and the outsourcing ratio of magnetic device products was high. After the investment project is put into operation, it is expected to alleviate the situation of insufficient production capacity.

The R&D center construction project will conduct research on five cutting-edge technology topics, including smart lighting overall solutions, integrated automotive laser headlights, distributed energy storage & DC lighting systems, micro photovoltaic inverter magnetic integrated transformers, and power module precision current sensors.