On May 18th, Jiangsu SIMAND Electric Co., Ltd. (referred to as "SIMAND" or "the Company"), a Chinese company specializing in the production of intelligent controllers and printed circuit boards, successfully received acceptance of its application for an initial public offering of shares and listing on the Main Board of the Shanghai Stock Exchange.

The Company plans to publicly issue no more than 32 million ordinary shares, with all funds raised used for investment in the Company's projects that includes the investment in the high-precision multilayer circuit board technology renovation project, which will be implemented by the Company's subsidiary,Tongling Anbo Circuit Board Co., Ltd. With an expected total investment of CNY 100.77 million, the project, which is expected to add a total of 360,000㎡ of FR-4 multilayer circuit board production capacity upon completion, is estimated to reach full production in the second year after completion, and it is also estimated to achieve an average annual increase in operating income of CNY 3.7377 billion.

About SIMAND

Jiangsu SIMAND Electric Co., Ltd. is a high-tech enterprise established in August 1989. With multiple production bases and technology R&D centers, it specializes in innovative product design, new product samples and verification, PCB layout manufacturability design, system assembly testing, intelligent manufacturing, and technology research and development. The company is a global smart controller integration solution provider, and its products are distributed in more than 10 countries worldwide, covering various areas such as smart homes, variable frequency drives, automotive electronics, industrial control, new energy, network communications, and rail transit.

SIMAND's printed circuit board business is positioned to meet the needs of mid-to-high-end customers for multi-variety, small-batch, high reliability, and fast delivery PCBs. The company offers a wide range of product models, involving complex processes, and covers various application fields such as smart homes, automotive electronics, and new energy industries. 

In terms of financial performance, the company achieved operating revenues of CNY 2.106 billion, CNY 2.597 billion, and CNY 2.453 billion in 2020, 2021, and 2022, respectively. It realized attributable net profits of CNY 32.7926 million, CNY 92.9833 million, and CNY 122 million in the same period, respectively.