On the evening of December 3, news from the China Securities Regulatory Commission showed that Zhejiang Titan Co., Ltd. (hereinafter referred to as “Titan Stock”) passed the IPO meeting. Titan Co., Ltd. is one of the major domestic textile machinery manufacturing enterprises. Its main products include three series of spinning equipment, weaving equipment and printing and dyeing equipment.
According to statistics from the China Textile Machinery Association, in 2019, the sales volume of Titan Rotor Spinning Machines ranked among the top 3 among similar products in the industry; digitalization The sales volume of high-speed rapier looms ranks among the top 3 among similar products in the industry; the sales volume of mid- to high-end high-speed rapier looms ranks among the top 5 among similar products in the industry; the sales volume of automatic winding machines ranks among the top 4 among similar products in the industry Bit.
In this IPO, Titan shares plan to issue no more than 54 million shares to the public, and all the raised funds of 460 million yuan will be invested in the “Intelligent Textile Machinery Equipment Manufacturing Base Construction Project” and the “Marketing Network Information Platform Project” ” and “ Supplementary Liquidity Project .”
After more than 20 years of independent research and development, design and production, by the end of 2019, Titan Co., Ltd. has more than 90 patents with independent intellectual property rights. The technical performance of its main products developed is close to the international advanced level, and its products continue to diversify. , development in the direction of serialization and intelligence.
According to the prospectus, Titan Co., Ltd.’s high-end textile equipment such as rotor spinning machines, digital high-speed rapier looms and automatic winding machines have reached the leading level of domestic textile machinery manufacturing and are close to international technology. level. In recent years, the company has invested about 3% of sales revenue in technological innovation and new product development, and has gradually established a three-level technological innovation and development mechanism.
In this fundraising project, the total investment of the smart textile machinery equipment manufacturing base project is planned to be 398 million yuan, and 370 million yuan of raised funds are planned to be used. After the project is completed, Titan Shares will add K-90 fully automatic The annual output of rotor spinning machines is 100 units, the annual output of C-50 pallet automatic winding machines is 80 units, the annual output of TT-868 special high-speed rapier looms is 120 units, and the annual output of intelligent control systems is 3,000 sets, with annual output value A total of 604 million yuan.
Public information shows that fully automatic rotor spinning machines and tray-type automatic winders are one of the products that represent the highest level of automation and intelligence in the current textile machinery market. At present, there are only a few companies in the world with the ability to produce fully automatic rotor spinning machines, such as Rieter and Saurer Intelligent in Switzerland. Only high-end companies such as Savio of Italy and Murata of Japan have the ability to produce pallet-type automatic winders.
Titan shares stated that after the project is completed, the company will become one of the few domestic companies with the ability to produce fully automatic rotor spinning machines and tray-type automatic winding machines, which will effectively reduce the size of the company. The gap with the world’s advanced textile machinery companies in terms of product automation and intelligence will strengthen the company’s competitiveness and have broad market prospects.
Looking forward to the future, Titan Co., Ltd. will take the mission of creating high-end textile machinery products that realize import substitution, and continue to develop high-efficiency, low-energy consumption, automated, digital and intelligent textile machinery by increasing the research and development of textile intelligent equipment. Machinery equipment, eventually becoming the leading supplier of new high-end textile machinery complete solutions in the international industry, and leading the implementation of industry standards and market development. </p
