Recently, Shangtai held an initial public offering on the Shenzhen Stock Exchange. Through the integrated layout of lithium-ion battery anode materials, Shangtai Technology has successfully joined the supply chain system of CATL and other well-known domestic lithium battery enterprises.
On Dec. 28, Shijiazhuang Shangtai Technology Co., Ltd. (hereinafter referred to as Shangtai) (Chinese: 石家庄尚太科技股份有限公司) held an initial public offering on the Shenzhen Stock Exchange, with the stock code 001301 and the issue price at CNY 33.88 (USD 4.56) per share. At the stock market closing, the company's stock rose 44.01% to CNY 48.79 per share, with a market value of CNY 12.7 billion.
Founded in 2008, Shangtai was initially engaged in the research and production of graphite powder materials, and the processing of diamond carbon source. It is a domestic diamond carbon source production and graphitization processing enterprise. In 2017, Shangtai successfully completed the track conversion and focused on the production of anode materials for lithium-ion batteries.
Since 2017, through the integrated layout of lithium-ion battery anode materials, Shangtai has successfully joined the supply chain system of CATL (Chinese: 宁德时代) and other well-known domestic lithium battery enterprises such as ATL-ND (宁德新能源), GOTION High-Tech (Chinese: 国轩高科), SVOLT (Chinese: 蜂巢能源) and SUNWODA (Chinese: 欣旺达).
Shangtai revealed that from 2019-2021, the company's revenue climbed from CNY 547 million to CNY 2.34 billion, with a compound annual growth rate of 107%, and net profit increased from CNY 88 million to 543 million, with a compound annual growth rate of 148%. For 2022, the company expects revenue to be CNY 5.08-5.43 billion, and net profit to be CNY 1.42-1.47 billion, which means that both are expected to achieve new record highs.