(Yicai Global) April 10 -- The Shanghai Stock Exchange published its tenth list of initial public offering applicants for its new sci-tech innovation board.
Five companies were on the list that appeared yesterday, including DBAPPSecurity which received investment from Jack Ma's shareholding company Ali Venture Capital, and Roborock Technology, an investee of Tianjin Jinmi Investment controlled by Xiaomi founder Lei Jun.
The Hangzhou-based DBAPPSecurity's second-biggest shareholder is Ali Venture Capital with a holding of 14.2 percent. Ma holds 80 percent shares and Xie Shihuang, one of the 18 Magi -- or founders – of Alibaba Group Holding, took 20 percent shares in Ali Venture Capital, which formed in October 2006.
DBAPPSecurity is a network information security company. The firm's latest market value for equity transfer was CNY3 billion (USD447 million). The IPO will be of up to 18.5 million shares, with planned fundraising of CNY760 million (USD113 million) for cloud security service platform upgrade, smart Internet of Things security research and development projects, industrial control system security and Industrial Internet security product upgrade projects.
DBAPPSecurity's main business is the development, production and sales of network information security products and services that include those for applications, Big Data, cloud, IoT, industrial control systems and Industrial Internet of Things. Its operating income was CNY317 million in 2016, CNY430 million in 2017 and CNY640 million in 2018.
The company's R&D investment was CNY66 million in 2016, CNY96 million in 2017 and CNY152 million last year, making up 21 percent, 22.3 percent and 24 percent of its operating income for those years.
Beijing Roborock Technology is part of Xiaomi's ecological chain. It designs, develops, produces and sells smart cleaning robots. Its main products are Xiaomi's custom brand Mi robot vacuum cleaner, and its own brand Roborock and Xiaowa. Tianjin-based Jinmi investment holds 11.9 percent of the shares in Roborock, and the actual controller of Jinmi Investment is Lei Jun.
Roborock technology plans to issue up to 16.7 million shares to gain CNY1.3 billion to invest in a new generation of robot cleaners, commercial robot cleaners and smart-connection data platforms and for use as backup operating funds. Its operating income was CNY183 million in 2016, CNY1.1 billion in 2017, and CNY3.1 billion last year.
Editor: Ben Armour