SUPCON listed Global Depository Receipts (GDRs) on the Swiss Stock Exchange (SIX)
(Adnkronos) - HANGZHOU, China, April 18, 2023 /PRNewswire/ -- April 17, 2023, 21：00 Beijing time, Zhejiang SUPCON Technology Co., Ltd. (hereinafter referred to as "SUPCON" ) officially listed its Global Depository Receipts (GDRs) on the Swiss Stock Exchange (SIX), marking a milestone for SUPCON in opening up its international financing channels, gathering new momentum under the background of globalization and Industry 4.0, and establishing itself as a benchmark of Chinese high-tech company in process automation and business automation on the international stage.
SUPCON is a leading technology company headquartered in China focusing on process industry automation and digital transformation business. SUPCON's strong financial performance in 2022 is a testament to its business model and growth potential. With a total operating income of RMB 6.621 billion (according to preliminary estimates), representing a year-on-year increase of 46.50%, SUPCON has been able to successfully leverage the thrive of process industry in China, while committing to digital and intelligent transformation aimed at improving quality, reducing costs, increasing efficiency, ensuring safety, and realizing net-zero.
The success of SUPCON's star products, including DCS, SIS, APC, has propelled SUPCON's market performance as the top player in China's niche market. With its leading position in the evolution of DCS to next-gen intelligent operation and management control system targeting autonomous operation of process industrial plants, SUPCON has served over 26,000 process industry clients (as of the end of 2022), and has over 6000 employees, with over 10% (still increasing) of annual revenue invested in R&D. After gaining high reputation domestically, SUPCON is all set to open up to the global business landscape and bring its mission of "Make Industry Smarter, Make Life Easier" to broader markets, cementing its place as a force to be reckoned within the world of high-tech innovation.
SUPCON's successful GDR issuance, priced on April 11, raised an impressive $565 million, with renowned investors such as J.P. Morgan Chase, Morgan Stanley, and APS among the subscription list. With a total issue of 20,958,000 GDRs at USD 26.94 per share, equivalent to 41,916,000 A-shares or 8.39% of the pre-issuance total A-share capital, SUPCON's listing on the Swiss Exchange is the largest issuance in terms of the proportion since Shanghai-London Stock Connect Scheme broadened to capital markets in Germany and Switzerland.
With its unwavering commitment to innovation and solving the unsolved challenges in the industry, SUPCON is poised for continued growth and expansion into global markets.
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