Domestic companies in the same field have expanded production

As early as October 2022, Green Harmonic announced A plan for the non-public offering of A-shares, proposing to issue no more than 50.58 million shares and raise no more than 2.027 billion yuan, which was accepted on March 14 this year.

The reporter of the Science and Technology Board Daily noted that the 2.027 billion yuan raised by Green Harmonic is twice as much as the total 962 million yuan raised by its IPO.

It is worth noting that the Shanghai Stock Exchange and the market have repeatedly paid attention to whether there is duplication of construction before and after the green harmonic fundraising project. The company also said in the audit inquiry response and other public information that the refinancing is the IPO raised investment project “annual output of 500,000 precision harmonic reducer project” upgrade and expansion.

Green Harmonic said that the new increase in the investment project for the company’s new generation of harmonic reducer and mechatronics products, are around its main business precision transmission field, through the process design and technology path to produce a new generation of products, not only can expand its products in the service robot, CNC machine tools, semiconductor production equipment application scenarios, It can also meet the continuous growth of high-end manufacturing industry market demand.

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The harmonic reducer can be applied to multiple joint parts of humanoid robots, and the control requirements of each joint will bring broad demand for its harmonic reducer.

In terms of capacity expansion, it is reported that after the raised investment project reached the total capacity of two generations of harmonic reducer 1.59 million units/year, of which the annual output of the new generation of harmonic reducer is 1 million units/year, and the new capacity of mechatronics products is 200,000 units/year.

It is worth mentioning that Green Harmonic believes that comparable domestic companies are expanding their production capacity, and the investment plan is therefore forward-looking in the industry.

Among them, China Great Power Germany added 200,000 units/year and 300,000 units/year of precision reducer capacity in IPO in 2017 and issuance of convertible bonds in 2021 respectively; As of October 2022, the RV reducer capacity is about 100,000 units/year, and it is expected that new capacity will be planned in 2023.

In addition, in the field of servo motors, which are core components of industrial robots, leading enterprises such as Huichuan Technology and Microlight Share have planned capacity expansion since 2022.