On December 29, 2020, Suzhou VEICHI Electric Co., Ltd. (hereinafter referred to as "VEICHI") was listed on the Shanghai Stock Exchange, stock abbreviation: VEICHI, stock code: 688698. Chaoyang Li, Deputy Secretary of the Wuzhong District Committee of Suzhou City and Acting Mayor of the District Government, Yuqi Gu, Member of the Standing Committee of the Wuzhong District Committee of Suzhou City, Deputy Secretary of the Party Working Committee and Deputy Director of the Management Committee of Suzhou Wuzhong Economic and Technological Development Zone, and other governments and their leaders, customers, suppliers, and friends from all walks of life attended the listing ceremony of VEICHI on the Science and Technology Innovation Board of the Shanghai Stock Exchange. This is another important milestone in the company's development history, and it also carries the dream of all VEICHI people.
This time, VEICHI issued 45 million shares at an issue price of 10.75 yuan, and the total share capital after the issue was 180 million. The total amount of funds raised is 483.75 million RMB. Among them, 363,098,600 RMB is planned to be invested in fund-raising projects, which will be used for the Suzhou Phase II inverter and Servo System automation production base construction project of 191,103,300 RMB, the Suzhou Technology R&D Center construction project of 71,995,300 RMB, and supplementary working capital of 100 million RMB. After the production base construction project is put into production, it plans to increase the production capacity of industrial automation control products by 450,000 units/year. The promotion and implementation of the above-mentioned projects will further enhance the company's strength and support the overall, healthy, and sustainable development of the company's main business.
Industrial automation control products have a wide range of applications, covering almost all industrial fields. In the context of the transformation and upgrading of the manufacturing industry, my country's traditional industrial-technological transformation, factory automation, and enterprise informatization all require a large number of industrial automation systems, and the market potential is huge.
VEICHI is paying close attention to the latest trends in the development of industrial automation control products at home and abroad with forward-looking thinking and perspective. The business philosophy of "market demand as the guide, technological innovation as the drive" expands and strengthens core businesses such as inverters, servo systems, and motion controllers. We will continue to explore and move forward, deep integration of pilot product research and development with the industry department, and continue to implement the "region + industry" marketing strategy. Increase the comprehensive strength of the industry's customized special planes and complete solutions, lay a solid foundation for the realization of the company's development strategic goals in the next three years, and make contributions within its capacity to promote the development of the electric drive and industrial control fields. Committed to becoming a first-class enterprise in the field of electric drive and industrial control.
The following is the scene of the listing appreciation dinner of VEICHI
As Zhiyong Hu, the founder and chairman of VEICHI said: "Successfully landing in the capital market is not the end of our struggle, but the starting point of a new journey for VEICHI. The journey of thousands of miles is vigorous, and we will set sail again. VEICHI people set sail in a new era and a new starting point, and jointly create a better future!"