Brief Introduction

Hainan Jinpan Smart Technology Co., Ltd. (hereinafter referred to as "Jinpan Technology") was established in 1997. It is mainly engaged in the research and development, production and sales of power transmission and distribution and control equipment products used in the fields of new energy, high-end equipment, energy saving and environmental protection. It is one of the leading companies in the global dry-type transformer industry. Its products are mainly oriented to mid-to-high-end markets.Jinpan Technology is a national high-tech enterprise headquartered in Hainan Free Trade Port. Its main business belongs to the encouraging industries and important high-tech industries and advanced manufacturing industries of Hainan Free Trade Zone.

Jinpan Technology continues to increase investment in research and development of high-end power transmission and distribution and control equipment products, especially special dry-type transformer series products customized for wind energy, rail transit, high efficiency and energy saving, and have strong competitive advantages in domestic and foreign markets with its advanced nature. It is one of the leading companies in the world of special dry-typetransformer for wind power, and one of the leading companies of special dry-typetransformer in the field of rail transit and high-efficiency energy-saving in China.

Jinpan Technology has more than 20 years of R&D and design experience and product data accumulation, and has strong technological innovation and product research and development capabilities. Through self-developed intelligent design platform and simulation technology, Jinpan Technologyhas realized product "digital twin", which could greatly improve the accuracy of product design and shorten the development cycle. Over the years, Jinpan Technology's product performance, quality and customization capability have been highly recognized by its major domestic and foreign customers. ; Jinpan Technology's major customers are international famous companiesincluding Vestas, General Electric, Siemens, Toshiba Mitsubishi Electric, Schneider, and many large state-owned holding companies.Jinpan Technology has established long-term and stable business partnerships with the above-mentioned high-quality customers.

Jinpan Technology continues to carry out technological innovation and manufacturing model changes, and has now entered the stage of comprehensive digital transformation. In 2020, Jinpan Technology Haikou Digital Factory was officially put into operation. Ithas realized a comprehensive digital manufacturing model transformation from product design, production, delivery to after-sales, effectively improving product R&D, production and operation efficiency, reducing various costs, further improving product quality, and givingthe company flexible manufacturing capability to meet customers' diversified market needs. In addition, Jinpan Technology's initial public offering of shares is mainly used to build a digital production base for high-end dry-type transformer series products, which will help the company to achieve full digital transformation and further enhance the company's core competitiveness.

Jinpan Technology is committed to becoming an international leader in digital manufacturing of high-end power transmission and distribution and control equipment products in the fields of new energy, high-end equipment, energy conservation and environmental protection. In the future, Jinpan Technology will continue to increase R&D investment, fully realize the digital transformation of the company's production and operation, and create a digital service system in the fields of smart energy and smart buildings.

Company Overview

Full name Hainan Jinpan Smart Technology Co., Ltd.
Abbreviations Jinpan Technology
Code 688676
Founded 1997-06-03
Listing 2021-03-09
Domicile Haikou
STAR Theme Others
CSRC Sector Manufacturing
Has weighted voting rights structure? No



  2020 2019 2018
Earnings Per Share 0.60 0.55 0.51
R&D expenditure as a % of operating revenue 4.62% 4.52% 4.39%
Operating Revenue 2,422.65 2,244.26 2,185.46
Net Income 231.94 209.70 196.62

Income Statement (Unit: RMB mn)

  2020 2019 2018
Operating Revenue 2,422.65 2,244.26 2,185.46
Operating Costs 1,774.06 1,633.36 1,609.95
Operating Income 253.26 234.98 210.23
Pretax Income 260.12 239.06 223.97
Income Tax 28.17 29.37 27.35
Net Income 231.94 209.70 196.62

Balance Sheet(Unit: RMB mn)

  2020 2019 2018
Current Assets-Total 3,075.18 2,577.48 2,474.52
Non-current Assets-Total 944.85 724.22 580.39
Total Assets 4,020.03 3,301.70 3,054.91
Current Liabilities-Total 1,801.03 1,449.29 1,409.24
Non-current Liabilities-Total 256.78 84.36 52.21
Total Liabilities 2,057.81 1,533.65 1,461.45
Stockholder's Equity
Share Capital 1,116.88 1,114.95 1,114.95
Retained Profits 839.46 645.69 471.00
Minority interests 5.30 6.88 7.13
Total Owners' Equity 1,962.22 1,768.05 1,593.47

Cash Flow Statement (Unit: RMB mn)

  2020 2019 2018
Net Cash Flows-Operating 192.20 272.53 227.82
Net Cash Flows-Investing -154.62 -112.40 -98.14
Net Cash Flows-Financing 89.25 -94.40 -38.53

Top 10 Shareholders

Name No. of Shares Held (mn) % of Shares Held
海南元宇智能科技投资有限公司 184.86 43.43
Forebright Smart Connection Technology Limited 89.23 20.96
敬天(平潭)股权投资合伙企业(有限合伙) 23.19 5.45
Forever Corporate Management(Oversea)Limited 13.28 3.12
旺鹏(平潭)股权投资合伙企业(有限合伙) 10.41 2.44
君道(平潭)股权投资合伙企业(有限合伙) 9.55 2.24
珠海市光远绿能投资中心(有限合伙) 8.73 2.05
春荣(平潭)股权投资合伙企业(有限合伙) 8.62 2.03
亭林(昆山)智能制造产业投资合伙企业(有限合伙) 5.40 1.27
As of 2021-3-31

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