A-share subscription | Development Technology (920029.BJ) opens for subscription, with a total export of over 50 million sets of smart metering terminals to Europe.

On March 18th, Development Technology (920029.BJ) began accepting subscriptions, with an issuance price of 30.38 yuan per share and a subscription limit of 1.5896 million shares. The price-earnings ratio is 8.15 times, and it belongs to the Northern stock exchange, with Huatai as the sponsor (lead underwriter). The prospectus shows that Development Technology's main business is the research, production, and sales of smart measuring terminals such as smart electricity, water, and gas meters, as well as AMI system software. The company takes the global smart energy system reform and the large-scale installation of renewable energy under the dual carbon strategy as an opportunity. Starting with the core product of smart electricity meters, the company provides customers with complete smart energy management system solutions covering electricity, water, gas, and other energy sources, with software and hardware integration and compatibility with various communication technologies. The company is one of the early Chinese smart metering enterprises that have successfully developed markets in developed countries in Europe and have a certain scale of shipments. The company has participated in large-scale smart meter deployment projects in several European countries such as Italy, the UK, the Netherlands, Norway, Sweden, Austria, and Portugal, exporting over 50 million sets of smart measuring terminals to Europe. The first-generation smart electricity meters deployed by the company in Europe have undergone complete product life cycle verification. It is currently the only domestic enterprise that has successfully penetrated the UK market with its own brand of smart meters. It has been recognized by the well-known IoT consulting firm BergInsight as the most successful Chinese smart meter supplier in the European market. In addition, the company actively responds to the national "Belt and Road" strategy, helping countries in the Middle East, Central Asia, South America, Southeast Asia, and Africa to build smart energy systems based on mature products, technology, and large-scale deployment experience validated in the European market. During the reporting period, the company provided integrated smart energy management system solutions for Saudi Arabia, Uzbekistan, Uruguay, Bangladesh, Senegal, and other countries, assisting these countries in building complete AMI advanced metering architectures and enabling public utility departments to monitor the operation status of the power system in real-time, achieving efficient energy management. In the background of high requirements for the stability of energy systems and data privacy, the company ensures the solid foundation of various countries' energy measurement systems with outstanding product reliability and security. In terms of reliability, the company has a high standard professional testing laboratory with CNAS accreditation, complying with international advanced levels to conduct strict verification and testing on its products. The first-generation smart electricity meter products deployed by the company in Europe have successfully passed the complete life cycle verification, and the reliability of the products has been fully verified by several developed countries. Furthermore, the company's products have obtained EU-MID, CE certification, Saudi Arabia SASO certification, and many other international authoritative product certifications with strict technical standards, totaling over 600 certifications worldwide. In terms of security, the company has passed the UK NCSC defense security level certification and is one of the early Chinese smart meter product manufacturing enterprises to obtain the IEC62443-4-1 industrial network security CB certificate. It is one of the few Chinese enterprises that have obtained national-level information security certifications in developed regions such as Western Europe. In terms of finances, in 2021, 2022, 2023, and January-June 2024, Development Technology achieved operating incomes of approximately RMB 1.475 billion, 1.791 billion, 2.55 billion, and 1.319 billion respectively. The net profits for the same period were approximately 208 million, 183 million, 488 million, and 299 million yuan.