NOBLIFT(SH:603611) IPO日报·2025-05-26 10:30Core Viewpoint - The article discusses the recent IPO of Zhongding Intelligent Technology Co., Ltd. in Hong Kong, which is a subsidiary of Noli Co., Ltd. The IPO represents a significant case of A-share to H-share spin-off, highlighting the financial gains of key stakeholders involved in the company’s ownership transitions and the overall growth trajectory of Zhongding Intelligent since its acquisition by Noli [1][12][19]. Company Overview - Zhongding Intelligent was established in 2009 in Wuxi, Jiangsu Province, specializing in intelligent in-plant logistics and warehouse automation solutions [2]. - The company has seen multiple rounds of capital increases and share transfers since its inception, with significant investments from its founders and subsequent shareholders [3][5][6]. Financial Performance - Noli Co., Ltd. acquired 90% of Zhongding Intelligent for a total consideration of 540 million RMB, which included both cash and shares [7][8]. - Since the acquisition, Zhongding Intelligent has experienced substantial growth, with sales orders increasing from over 72 million RMB in 2016 to over 3 billion RMB in 2021 [12]. - The projected revenues for Zhongding Intelligent from 2022 to 2024 are 1.643 billion RMB, 1.695 billion RMB, and 1.798 billion RMB, respectively, with net profits also showing consistent growth [12][13]. Market Position - By 2024, Zhongding Intelligent is expected to rank fourth in the Chinese intelligent in-plant logistics solutions industry and first in the lithium-ion battery sector [17]. - The company’s revenue is primarily derived from intelligent in-plant logistics solutions, which accounted for approximately 97.3%, 94.6%, and 96.1% of total revenue during the reporting period [22]. Future Plans - The IPO proceeds will be partially allocated to the research and development of advanced robotics and equipment systems, including high-density pallet warehouse robots and next-generation sorting systems [23].