Aima Technology Launches IPO on SSE, Hitting Upper Limit on First Day of Trading
TIANJIN, China, June 25, 2021 /PRNewswire/ -- On June 15, Aima Technology (SHA:603529), a leading Chinese e-bike manufacturer, announced its Initial Public Offering (IPO) on the Shanghai Stock Exchange (SSE). The value of the firm's share rose to the exchange's maximum allowed daily limit on the first day of trading.
Aima's listing on China's A-share market further cements the company's role as an industry leader and provides it with strong financial support to accelerate its transformation. The company is also expected to have an immeasurable impact on the electric two-wheeler industry worldwide, further enhancing the firm's global market leadership.
Aima accelerates its end-to-end transformation with the funds raised
The 1.681 billion yuan (approx. $US 259.7 million) in funds raised will mainly be used in capacity expansion, technology R&D, intelligent manufacturing and to build out its sales network.
Aima's immense investment in technology R&D is the biggest eye-catcher. As of December 31, 2020, Aima held 923 Chinese patents (11 invention, 218 utility and 694 design), in addition to 37 registered copyrights. Of the funds raised, 101 million yuan (approx. $US 15.6 million) has been earmarked for the construction of its research center, which will house under one roof facilities for the industrial design of electric bicycles, design of key parts, clay modeling, 3D digital modeling and research on their overall performance, serving as an important driving force for Aima during a period that is witnessing impactful change across the sector.
Aima goes public amid a trade-in craze that is set to reshape the industry
Aima has set its sales target for 2021 at an unprecedented 16 million units, with the next three months budgeted at an even more ambitious 6 million vehicles. With the support from the capital market, Aima plans to further expand capacity, and beef up its manufacturing and channel advantages while increasing market share.
Going public provides Aima even more of a competitive edge over its rivals, with the expectation that it will ultimately reshape the entire industry.
Going public accelerates Aima's growth in the green economy worldwide
The listing paves the way to make Aima a household name and brings more attention to the electric two-wheeler industry, especially against the backdrop of the low-carbon economy globally. Many countries have already begun to increase their efforts in building their own medium- and short-distance mobility sectors with the most attention being given to electric bikes, forewarning that market competition will soon reach a level of fierceness beyond anything that can be imagined today. Embarking on its international expansion very early in the game, Aima will take its listing as an opportunity to further accelerate its growth worldwide.
For Aima, going public is not an end, but a testament to its unremitting efforts of the past 20 years and a starting point for its next stage of growth. Aima, with innovation in technology as the key driver, is expected to lead a brighter future for the Chinese electric two-wheeler industry, with support from the capital market.
About Aima Technology
Founded in 1999, Aima Technology Group is committed to becoming the world leader in personal transportation fueled by renewable energy sources. The company has succeeded in maintaining its healthy growth through the creation and implementation of a consumer-centric innovative system. Following more than a decade of development, it has become the largest manufacturer of e-bikes in China. For more information, please visit Aima's official website.
SOURCE AIMA Technology
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