Shenzhen Inovance Tech
- Branche
- Industrial Automation
- Börse
- Shenzhen
- Land / Region
- China
- Börsengang
- 28. September 2010
- Mitarbeiter
- 27.292
- Website
- www.inovance.com
Zusammengesetzter Bewertungsbereich · konservativ ¥48–¥55 / fair ¥63–¥85 / optimistisch ¥85–¥95. Bei ¥59.48, Zwischen dem konservativen und dem fairen Bereich.
Bei Veröffentlichung ¥67.16 (15. Juni 2026)
Daten von EODHD, dargestellt in der Berichtswährung; nur zu Informationszwecken, keine Anlageberatung.
Shenzhen Inovance Technology Co.,Ltd manufactures and sells industrial automation control solutions in China and internationally. It operates through four segments: Industrial Automation and Digitalization, New Energy Vehicle Powertrain Systems, Emerging Industries, and Others. The company offers drive system products, including general-purpose low voltage, industry tailored low voltage, engineering, and medium voltage AC drives; motion control system products comprising servo drives and motors; control system products that include PLCS, I/O modules, and HMIs; industrial general-purpose and industry-specific motors; and industrial vision products, such as industrial cameras, vision software platform, and vision components. It also provides industrial robot systems, including articulator 6-axis robots, SCARA robots, robot control cabinet, and robot optional accessories; elevator controllers; and power conversion systems. It serves the off-highway vehicles, lithium batteries, air conditioning and refrigeration, injection molding machinery, and test equipment industries. The company was founded in 2003 and is headquartered in Shenzhen, China.
Geschichte
Shenzhen Inovance Technology was founded in Shenzhen on April 10, 2003 by Zhu Xingming, who had previously worked at Huaneng, Huawei Electric, and Emerson and has served as chairman and president since May 2008. Its first focus was low-voltage frequency converters and motor control for sectors such as elevators, where domestic penetration was then very low. The company listed on the Shenzhen ChiNext board on September 28, 2010 at an issue price of 71.88 yuan per share (issue P/E of 78.13x), raising roughly RMB 1.941 billion. From 2003 to 2010 it concentrated on drive-layer products for elevators, hoisting, and general equipment; after listing it expanded upward into the control layer (PLC, HMI, CNC) and downward into motors, industrial robots, precision machinery, and sensors, so that by its 2024 report its product map spanned the digital, edge, control, drive, and execution/sensing layers. In 2009 it set up a new-energy division that grew into its NEV powertrain business (Lianhe Dongli / United Power), which became a separately listed platform in 2025 and contributed roughly RMB 3.532 billion of net gain from its A-share listing. Revenue rose from RMB 30.392 billion in 2023 to RMB 37.013 billion in 2024 and RMB 45.085 billion in 2025, while overall gross margin moved from 31.7% to 27.9% and then 28.1% as the lower-margin NEV powertrain segment grew. The company completed a private placement at 58 yuan per share in 2020, announced a plan to issue H-shares on January 19, 2026, filed its application with the Hong Kong Stock Exchange on April 28, 2026, and approved a RMB 100 million to 200 million share buyback (price cap 85 yuan per share) in April 2026. In 2025 overseas revenue reached RMB 2.649 billion (about 5.9% of the total) under a stated Globalocal strategy. In its emerging-business lines it has released humanoid-robot core components, including a seven-degree-of-freedom bionic arm, planetary rotary and linear actuators, frameless torque motors, low-voltage DC drives, and planetary roller screws, with a bionic-arm prototype produced and dextrous hands and actuators entering sampling and verification, though these remain at the product and prototype stage rather than a proven profit source. The company has no dual-class shares and is not a VIE; as of December 31, 2024 Zhu Xingming controlled voting rights over 19.38% of the company through a 1.66% direct stake, equity in Huichuan Investment, and a voting proxy from his daughter.
Branchenposition
By 2025 revenue, Shenzhen Inovance ranked second in China's industrial automation and digitalization market and first among domestic firms, with a 5.9% market share in a highly fragmented market where other vendors together held about 79%. Within individual categories its 2024 shares were about 28.3% in general servo systems, 18.6% in low-voltage frequency converters, 14.3% in small PLCs, and 27.3% in SCARA robot sales. In 2025 its industrial automation and digitalization segment generated RMB 22.245 billion in revenue at a 40.1% gross margin and contributed roughly 70% of company gross profit, while its NEV powertrain segment generated RMB 20.323 billion at a 14.5% gross margin, making automation the main profit engine and the automotive line a scale engine. Its competitive sources include a multi-layer product stack spanning control, drive, and execution layers, faster localized response and customization in China, scale with application density across categories, and management's technical and capital-allocation track record. In 2025 direct sales accounted for 70.1% of revenue and distribution for 29.9%. Foreign competitors named include Siemens, ABB, Yaskawa, Mitsubishi, Panasonic, Schneider, and Fanuc, while domestic comparables include Invt, Estun, and Enpower, with Yaskawa as a global motion-control benchmark and BYD's in-house electric-drive supply as a reference for pressure on third-party suppliers. In its NEV powertrain business, its United Power unit derived 65% of 2025 revenue from its top five customers, indicating higher customer concentration than its automation core; the China NEV power-system market was about RMB 40.4 billion and the smart-chassis market about RMB 62.9 billion in 2025.