On July 15, 2020, EFORT Intelligent Equipment Co., Ltd. (EFORT, stock code: 688165.SH) completed its IPO on the SSE STAR Market. EFORT specializes in intelligent equipment manufacturing. The company’s core business involves the R&D, manufacturing and distribution of industrial robots and their core components, and systems integration. The company is among the first tier of industrial robotics companies in China. EFORT issued 130.446838 million shares through the initial public offering at a price of CNY 6.35 per share and raised a net of CNY 726 million.
Through its two-pronged approach that focuses equally on in-house innovation and cross-border mergers and acquisitions, EFORT has taken steps to secure its independent know-how of the critical technologies and develop a collaborative development ecosystem that encompasses the entire industrial robotics supply chain from generic to high-end system integration solutions and from Chinese-made components to Chinese-made robots. Our robots and solutions empower New Electric Vehicles (NEVs), rail systems, aerospace industry, 3C electronics, photovoltaics, engineering machinery, sanitary ceramics, furniture wood, and other widely-used products. Concurrently, EFORT's international market expansion has produced tangible results. The company now operates in markets outside of China, including Italy, Brazil, Poland, India, Germany and France. Its products are sold in Europe, Asia, Africa and a growing number of countries and regions. Overseas markets accounted for over 60% of total revenue in the past two years.
As the legal counsel for the issuer, Jingtian & Gongcheng’s legal team provided a broad range of services to the client. We coordinated the issuance of corresponding verification opinions from lawyers across Italy, Brazil, Poland, India, Germany and France and liaised directly with regulators in response to their detailed inquiries, including multiple rounds in relation to compliance of overseas operations and acquisitions. Jingtian & Gongcheng has consistently served as EFORT'S corporate lawyer and advised on its employee share ownership program and guided the company through multiple rounds of private equity financing including the investment from Co-Stone Asset Management Co., Ltd and CDH Investments.
