On May 29, the International Cooperation Department of the China Securities Regulatory Commission (CSRC) issued a filing notice regarding the overseas issuance and listing and the "full circulation" of domestic unlisted shares of Zhejiang Harmonic Drive Transmission Co., Ltd. The company intends to issue no more than 15,458,100 ordinary shares for overseas listing on The Stock Exchange of Hong Kong Limited. Fifteen shareholders of the company plan to convert a total of 89,956,887 domestic unlisted shares they hold into overseas listed shares for circulation on The Stock Exchange of Hong Kong Limited.
Zhejiang Harmonic Drive Transmission Co., Ltd. is a high-tech enterprise and a "little giant" specialized and sophisticated company focusing on the research, design, production, and sales of harmonic reducers. It has established a provincial-level high-tech enterprise R&D center and a provincial-level high-precision harmonic reducer enterprise research institute. The company is China's second enterprise to fully replace imported products and achieve mass production of high-precision harmonic reducers.
The company's products are primarily used in aerospace, robotics, semiconductor wafer handling equipment, medical devices, and other fields. The development of the company's products has significantly reduced the production cost and delivery cycle of harmonic reducers, which are core components of robots. It has also narrowed the gap with advanced foreign technologies in core performance indicators such as transmission accuracy, reliability, and service life. This has enabled import substitution, breaking Japan's long-standing monopoly in the harmonic reducer field. Additionally, it has substantially lowered production costs for robotics companies, contributing to a closed-loop domestic robot industry and enhancing the competitiveness of the industrial chain and cluster.
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