Recently, the information technology listing guidance was filed by the Securities Regulatory Bureau. Ring technology and green Harmonics respectively occupy the top position of two precision reducer manufacturers in China. The company has introduced external investors twice this year, and the market valuation at the time of the last equity transfer was about 3 billion yuan.

The humanoid robot weighty document has just been released, and the spin-off listing of Zhejiang Ring Motion Robot Joint Technology Co., LTD. (hereinafter referred to as “Ring Motion Technology”), which is engaged in the development of robot joint parts, has ushered in new progress.

Ring motion technology is a holding subsidiary of double ring transmission, double ring transmission had announced on September 25 that it intends to plan the spin-off and listing of Ring motion technology.

Recently, the website of the Securities Regulatory Commission disclosed that Huanda Technology has signed a listing guidance agreement with Guangfa Securities, and was filed by the Zhejiang Securities Regulatory Bureau.

The filing report shows that the final node of the guidance work arrangement is March next year. This means that if the coaching work goes according to plan, Huandou Technology is expected to file for an IPO as early as the first half of next year.

Divide the domestic share of two kinds of reducer

In terms of business, the company specializes in the development and industrialization of high-precision robot joint reducer and high-precision hydraulic parts, gear and transmission system design and manufacturing, test analysis and fault diagnosis, strength life and other fields of research and provide technical services.

At present, we provide customers with the overall solution of high precision reducer covering 3-1000KG load robot, with SHPR-C, SHPR-E, high precision harmonic reducer and other product series, a total of more than 40 models. Products mainly include RV reducer, harmonic reducer, etc., widely used in industrial robots, collaborative robots, multi-foot robots, industrial automation and other high-end manufacturing fields.

It is worth noting that the robot industry, especially the humanoid robot industry, has frequently ushered in heavy policy increases in the past year. The Ministry of Industry and Information Technology recently issued the “Humanoid Robot Innovation and Development Guidance”, which is another important policy document for the field of humanoid robots after the Ministry of Industry and Information Technology issued on September 13, 2023 to organize the unveiling of the future industrial innovation task in 2023.

Earlier, China has put forward the “14th Five-Year Plan” robot industry development Plan, national strategy and industrial policies to encourage high-precision reducer industry.

Robot reducer can be divided into RV reducer and harmonic reducer. From the industry point of view, the global robot reducer market is highly concentrated, Japanese manufacturers occupy most of the market share, in 2021, Nabotsk occupied 53% of the market share of China’s RV reducer, Hamenaco occupied 35.5% of the market share of China’s harmonic reducer.

Benefiting from the release of downstream demand and the expansion of application fields, as well as the promulgation and implementation of a series of industrial encouragement policies, in the precision reducer market, a number of domestic manufacturers have gradually risen, and the development of circular motion technology has also benefited from this. Public information shows that Ring Power Technology, formerly known as Double ring transmission Machinery Research Institute, was established in 2020 as a separate subsidiary of double ring transmission, focusing on the field of reducer.

In terms of market pattern, double-ring transmission occupies 14% market share of RV reducer market in 2021, ranking second in domestic market share and first in domestic manufacturers. The market share of green harmonics in harmonic reducer is 24%, and it also occupies the top position of domestic harmonic reducer.

It has been valued at 3 billion yuan

Official data show that since its establishment in 2020, the revenue of Huanmo Technology has grown rapidly, with a revenue of 177 million yuan in 2022, an increase of 88% year-on-year, and a net profit of 40.5952 million yuan. In the first quarter of this year, the company’s operating income was 60,434,500 yuan, and its net profit was 12,624,800 yuan.

By the end of 2022, the total assets of the company were 531 million yuan and the net assets were 192 million yuan, while in the first quarter of this year, the total assets of the company had increased to 708 million yuan and the net assets to 207 million yuan.

It is worth noting that the global movement technology in January this year to increase the capital expansion, the introduction of the national manufacturing fund, advanced manufacturing fund, Yuhuan State investment, Chun ‘an Zhehuan, Jixing Ring speed and Temasek indirect holding of Springleaf, True Light and other 7 investors, the amount of capital increase of 290 million yuan, after the completion of the capital increase, Double Ring Drive still holds 61.29 per cent of the shares of Ring Motion Technology.

Double ring transmission also announced in May this year that Chairman Wu Changhong and general manager Zhang Jing intend to transfer a total of 2.33% of the shares of Ring Motion Technology directly held by them to the Advanced Manufacturing Fund, Chun ‘an Zhejiang Huanxing Chenglian Core, Hillhouse Chenjun, Hillhouse Yurun a total of five investors, corresponding to the transfer price of 7000.00 yuan. If this calculation, the ring technology market valuation is about 3 billion yuan.