Sensor chip maker Canrui Technology plans IPO: Xiaomi Industrial Fund becomes the fourth largest shareholder

According to Jiwei.com news, the Shanghai Regulatory Bureau recently disclosed the basic information table of the coaching filing of Shanghai Canrui Technology Co., Ltd. (hereinafter referred to as: Canrui Technology). Its coaching institution is CITIC Securities, and the coaching filing was completed on July 9.

In fact, this is not the first time that Canrui Technology has participated in IPO coaching. As early as December 2015, the Shanghai Securities Regulatory Bureau disclosed Ping An Securities' coaching filing report on Shanghai Canrui Technology Co., Ltd., but the aforementioned coaching agreement was terminated in 2016 because the two parties had disagreements over the filing time.

In April 2017, Canrui Technology reached a cooperation agreement with Donghai Securities, with Donghai Securities acting as the counselor for its initial public offering of A-shares and listing. However, in January 2018, Canrui Technology and Donghai Securities parted ways again, but the reason for the termination of counseling was not disclosed.

Until December 2019, Canrui Technology reached a coaching agreement with the third brokerage firm, Industrial Securities, but it was terminated in mid-2021. On July 21, the official website of the Shanghai Securities Regulatory Bureau disclosed that "after comprehensive consideration of Canrui Technology's listing plan, after friendly negotiations, both parties unanimously agreed to terminate the coaching."

In other words, this cooperation with CITIC Securities is the fourth IPO guidance for Canrui Technology in more than five years.

According to information, Canrui Technology was founded in September 2005. It is a high-tech enterprise mainly engaged in the research and development, design, packaging, testing and sales of high-performance integrated circuits. Its main products and services include smart sensor chips, optoelectronic driver chips and packaging and testing services. Its products are widely used in many important areas of the national economy such as smart phones, smart homes, computers, wearable devices, financial security and smart security.

In terms of equity, Suncity Investment is the single largest shareholder of Canrui Technology, holding 62.23% of the shares, which is controlled by Luo Liquan, chairman of Canrui Technology. At the same time, Luo Liquan also controls the majority of Canrui Technology's shares through Shanghai Qunwei Enterprise Management Center, Shanghai Xiaowei Enterprise Management Center and direct shareholding.

As of now, Luo Liquan and Luo Jie together control 82.99% of the total voting rights of Canrui Technology. Luo Liquan and Luo Jie are father and son, and are the actual co-controllers of Canrui Technology. In addition, Xiaomi Industrial Fund is the fourth largest shareholder of the company, holding 3.89% of the shares.