EFORT goes public on STAR Market as Chery’s first STAR-listed stock

27 July 2020

Chery-incubated EFORT Intelligent Equipment Co., Ltd. (EFORT) went public on the START Market of the Shanghai Stock Exchange on July 15, with the ticker symbol “688165”. This is another listed subsidiary incubated by Chery after the listing of Bethel Automotive Safety Systems Co., Ltd. on the Main Board in 2018.

EFORT issued 130 million shares at 6.35 yuan per share. On its first trading day, the stock opened at 26.66 yuan per share, and skyrocketed 387.87 percent to close at 30.98 yuan per share with a market capitalization of about 16.165 billion yuan.

Over the years, Chery has offered about 150,000 jobs by incubating enterprises in emerging industries such as industrial robotics, general aviation, new energy, modern agricultural equipment, intelligent connectivity, auto finance, tourism real estate and cross-border e-commerce.

EFORT is a Chinese leading industrial robot enterprise, one of China’s top 100 intelligent manufacturers, as well as a member enterprise of Chery Technology-a key enterprise in Chery’s automotive parts sector. The last three digits (“165”) of the ticker symbol “688165” taken by EFORT represent its first independently developed 165kg heavy-duty point welding robot.

EFORT has created a layout of core parts, machines and high-end system integration covering the whole industrial robot chain, used robot products and solutions to empower industries such as new energy vehicle, rail transit, aerospace, 3C electronics, PV, construction machinery and foundry, and exported them to Europe, Asia and Africa.

EFORT will invest the raised capital in the R&D and industrialization of next-generation intelligent high-performance industrial robots, the performance improvement and capacity building of core robot parts, as well as the R&D and industrialization of a robot cloud platform, in an effort to become a globally competitive robot company.

In recent years, Chery has taken full advantage of its institutional advantage and brand effects, focused on the auto industry, deployed in seven business sectors: automobile, automotive parts, shipping, real estate, finance, modern services and intelligence, and established over 270 member enterprises. With over 90 parts manufacturers, Chery Technology, a key enterprise in Chery’s automotive parts sector, has implemented the strategy of “industrial management + capital operation”. With nearly 20 listed companies, Chery has kept promoting the capacity improvement and win-win development of its member enterprises.

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