Brief Introduction

VEICHI (Suzhou VEICHI Electric Co., Ltd.) is a high-tech enterprise engaged in the R & D, production and sales of industrial automation products. Since its establishment, VEICHI has always focused on the field of electrical drive and industrial control.

VEICHI has been awarded the honorary titles of Jiangsu Enterprise Technology Center, Jiangsu Private Technology Enterprise, and "Competitive Brand in the Field of Motion Control". VEICHI has developed a series of patented technologies with independent intellectual property rights after years of independent R&D and innovation. As of December 31, 2020, a total of 103 patents have been granted, including 18 invention patents.

On December 29, 2020, VEICHI was listed as an A-share company on the Sci-Tech innovation board of Shanghai Stock Exchange (stock code:688698).

VEICHI has R&D and production bases in Suzhou and Shenzhen, and has established a wholly-owned subsidiary in India. At present, VEICHI business covers many countries and regions, providing global customers with competitive and reliable products and services

VEICHI products include frequency inverter from 0.4kW to 1,200kW, servo system from 50W to 200kW, motion controller, PLC, HMI, and etc. VEICHI products are widely used in cranes, mining, rail transit, machine tool, air compressor, rubber & plastic, solar pump, construction materials, robots & manipulators, printing and packaging, textile printing and dyeing, metal & metallurgy, municipal utilities, petroleum and petrochemical, chemical industry, etc.

In the future, VEICHI will continue to spare no efforts in the business philosophy of "Guided by market demand, driven by technological innovation", continuously expanding and strengthening the core businesses such as inverters, servo systems, motion controllers, IoT, etc. VEICHI will insist on providing customers with high-quality products and professional services. The corporate vision of VEICHI is to become a leading company in the field of electric drive and industrial control.

Company Overview

Full name Suzhou VEICHI Electric Co., Ltd.
Abbreviations VEICHI
Code 688698
Founded October 17th, 2013
Listing December 29th, 2020
Domicile Suzhou
STAR Theme High-end Equipment
CSRC Sector Manufacturing
Has weighted voting rights structure? No



  2020 2019 2018
Earnings Per Share 0.65 0.43 0.26
R&D expenditure as a % of operating revenue 9.21% 9.63% 10.29%
Operating Revenue 572.23 446.24 356.96
Net Income 87.56 57.55 35.28

Income Statement (Unit: RMB mn)

  2020 2019 2018
Operating Revenue 572.23 446.24 356.96
Operating Costs 354.64 271.35 215.73
Operating Income 94.16 62.68 42.00
Pretax Income 97.32 63.63 40.06
Income Tax 9.77 6.08 4.78
Net Income 87.56 57.55 35.28

Balance Sheet(Unit: RMB mn)

  2020 2019 2018
Current Assets-Total 962.72 346.72 308.99
Non-current Assets-Total 112.80 104.69 107.64
Total Assets 1,075.52 451.42 416.63
Current Liabilities-Total 298.59 160.26 181.51
Non-current Liabilities-Total 13.86 25.72 31.13
Total Liabilities 312.45 185.98 212.64
Stockholder's Equity
Share Capital 645.05 226.75 190.22
Retained Profits 118.02 38.69 13.76
Total Owners' Equity 763.07 265.44 203.98

Cash Flow Statement (Unit: RMB mn)

  2020 2019 2018
Net Cash Flows-Operating 53.91 70.84 47.54
Net Cash Flows-Investing 0.09 -17.01 -24.14
Net Cash Flows-Financing 402.81 -30.07 -3.19

Top 10 Shareholders

Name No. of Shares Held (mn) % of Shares Held
Shenzhen VEICHI Electric Co., Ltd. 125.00 69.44%
Suzhou Jinhaocheng Investment Partnership Co., Ltd. (Limited Partnership) 5.00 2.78%
Suzhou Jinzhicheng Investment Partnership Co., Ltd. (Limited Partnership) 5.00 2.78%
Guotai Junan Securities Asset Management - China Merchants Bank - Guotai Junan Junxiang Sci-Tech innovation board VEICHI Electric No. 1 Strategic Placing Collective Asset Management Plan 4.44 2.47%
Industrial and Commercial Bank of China Limited - Lion Pioneer Mixed Securities Investment Fund 2.28 1.27%
Guotai Junan Zhengyu Investment Co., Ltd 1.90 1.05%
Lion Fund - China Construction Bank Corporation- China Life.- China Life Entrusts Lion Fund Company Equity Portfolio 1.15 0.64%
Bank of Communications Limited - Lion Research Preferred Mixed Securities Investment Fund 0.48 0.27%
Hao Xiaodong 0.39 0.22%
Liao Qiuhua 0.35 0.2%
As of 2021-03-31

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