CSRC approves Shandong Electric Power's IPO registration on the Shenzhen Stock Exchange's ChiNext board.

On May 23, the China Securities Regulatory Commission issued the approval for the first public offering of shares for Shandong Shanda Electric Power Technology Co., Ltd. It is reported that Shanda Electric Power plans to list on the ChiNext board of the Shenzhen Stock Exchange, with Industrial acting as its sponsor institution, aiming to raise 500 million yuan. The prospectus shows that Shanda Electric Power was established in 2001 and is dedicated to the research and industrialization of intelligent products related to power systems. Based on the accumulation of power grid monitoring technology and electrical system design and integration capabilities in the field of smart grids, the company has formed two major business segments: power grid intelligent monitoring and new energy. Among them, power grid intelligent monitoring is the company's main source of income, accounting for 88%. The power grid intelligent monitoring equipment is used in the fields of power transformation, transmission, and distribution, while new energy equipment is used in the field of electricity consumption. As power grid enterprises are the main force for investment in China's power grid construction, Shanda Electric Power's customers are mainly concentrated in state grid enterprises, southern grid enterprises, and their subsidiaries. During the reporting period, the revenue from power grid enterprise customers accounted for around 80%.