On August 17, Guangdong Koris CNC Technology Co., Ltd. (referred to as "Koris") successfully passed the listing review at the Shanghai Stock Exchange's STAR Market IPO meeting. Guotai Haitan Securities serves as its sponsor, with the company planning to raise 719 million yuan.
According to the prospectus, Koris is primarily engaged in the research, development, production, and sales of full direct-drive CNC machine tools and CNC system products. It stands as a frontrunner in China's full direct-drive CNC machine tool sector and is one of the few domestic firms that simultaneously possess both PWM-type and bus-type CNC systems, with both having achieved substantial sales volumes.
To date, Koris' CNC system products have surpassed 20,000 units in cumulative sales and usage. These systems are applied across precision milling machines, precision grinders, five-axis linkage machine tools, three-dimensional five-axis lasers, force-controlled polishing equipment, and automation-related devices. They have successfully replaced mainstream CNC systems from global leaders such as Germany's Siemens and Heidenhain, as well as Japan's Fanuc and Mitsubishi, earning notable market recognition. Among these, the company's U-series PWM-type CNC system has notably broken Germany's Heidenhain monopoly in the Chinese machine tool market. In the domestic market, Heidenhain and Koris are now the primary suppliers of PWM-type CNC systems. Additionally, the N-series bus-type CNC system, praised for its outstanding performance and product stability, has been sold to several globally renowned automation solution providers, including Fanuc Robotics.
Koris is recognized as one of the representative enterprises in China's domestic full direct-drive CNC machine tools and PWM-type CNC systems. In response to the pressing reality that China's high-end industrial machine tools largely depend on imports, the issuer has achieved substantial breakthroughs in both high-end CNC machine tools and CNC systems. In 2024, Koris ranked first in sales volume of full direct-drive CNC machine tools among domestic manufacturers. It is also one of the few domestic companies capable of independently developing and selling PWM-type CNC systems on a large scale to machine tool enterprises.
During the reporting period, the issuer's customer base has grown annually, now exceeding 700 clients. These include renowned domestic and international manufacturers such as Foxconn, Changyin Precision (300115.SZ), Tonglian Precision (688210.SH), Weifang Lichuang, Sunwoda (300207.SZ), Advanced Technology & Materials (000969.SZ), Amphenol, Huayu Kolben, Helin Micro (688661.SH), Aerospace Hanyu (688523.SH), Luxshare Precision (002475.SZ), Jintuo Shares (603211.SH), Zhaowei Machinery & Electronics (003021.SZ), Huaqin Technology (603296.SH), Dingtai High-Tech (301377.SZ), Jack Equipment, Haoteman, Chuncai Grinding, Fanuc Robotics, and Japan's Sodick.
The funds raised from this issuance (after deducting issuance expenses) are planned to be invested in specific projects. Financially, for the fiscal years 2023, 2024, and 2025, the company recorded operating revenues of approximately 253 million yuan, 317 million yuan, and 410 million yuan, respectively. During the same periods, net profits were 35.61 million yuan, 63.24 million yuan, and 76.48 million yuan, respectively.
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