Efort Intelligent Equipment Co., an industrial robot maker based in Wuhu, east China’s Anhui province, launched its initial public offering (IPO) on the Shanghai Stock Exchange’s Nasdaq-style Star Market on Wednesday, marking a milestone for the province’s industrial robotics.
As the third Star Market-listed company in Anhui, Efort is specialized in researching, producing and marketing finished industrial robots, industrial robot parts, and systems integration (SI) solutions. It serves a wide range of sectors including automobiles, aerospace, and 3C electronics, according to its IPO prospectus.
The firm has 16 core technologies, half of which have been independently developed, the prospectus said.
Efort will raise funds to develop three key projects of industrial robots, core parts, and a robot cloud platform. The first two projects will realize an annual production capacity of 8,000 industrial robots, 15,000 control systems, 15,000 driving systems, and 40,000 decelerators. The robot cloud platform will access and operate 10,000 industrial robots on a yearly basis.