Igor’s 1.25 billion private placement was passed, accelerating the layout of new businesses such as energy storage

On September 27, Igor announced that the company’s application for a non-public issuance of shares was approved by the China Securities Regulatory Commission.

According to the previously announced stock issuance plan, Igor will raise no more than 1.254 billion yuan to invest in intelligent manufacturing construction projects for medium-voltage DC power supply systems, digital factory construction projects for smart box transformers and energy storage series products, and R&D center construction projects to supplement working capital.

It is reported that this private placement project is Igor’s industrial layout to meet the huge market demand for data center phase-shifting transformers, data center power supplies, energy storage transformers and other equipment. In the future, the company will focus on data centers and new energy applications as strategic development priorities.

Information shows that Igor focuses on the R&D, production and sales of power supplies and power component products for industrial and consumer fields. The products are mainly used in new energy photovoltaic power generation, industrial control and lighting fields. Among them, in the lighting field, we mainly sell lighting power products, which are used in commercial, household and outdoor lighting fixtures.

This fundraising does not involve lighting-related applications. It is reported that Igor is currently focusing on the "2+X" strategic layout, which will be based on energy products and lighting products, while actively deploying new application areas such as vehicle power supply, communication power supply and energy storage. This fundraising project is the implementation of this strategy.

The strategic adjustment has an impact on the revenue share of Igor lighting power products. It is reported that the revenue of Igor lighting power products has increased from 660 million yuan in 2019 to 20 885 million yuan in 21, the corresponding revenue ratio fell from 50.87% to 39.67%.