On July 22nd 2019, China’s Science and Technology Board (STAR Market) officially launched in Shanghai Stock Exchange. A milestone to China’s financial system, the STAR market encourages domestic technology startups to list locally rather than going overseas. Ronbay Technology, a portfolio company of NIO Capital, was one of the first 25 companies to go public on the board. Together with 24 other startups, Ronbay Technology successfully IPO on the stock exchange and opened a new chapter of the STAR market.
Bai Houshan (third from left), Ronbay Technology Founder and Chairman, and Ian Zhu(third from right), NIO Capital Managing Partner and Ronbay Technology Supervisory Committee Chairman, attending the opening ceremony of Science and Technology Innovation Board
Ronbay Technology (Code: 688005) is a technology enterprise mainly engaged in lithium battery cathode materials. Established in September 2014, the startup focuses on the power battery application direction of ternary cathode materials. In 2016, Ronbay Technology took the lead in breaking through and mastering the key process technology of high-nickel ternary cathode materials. In 2017, it became the first cathode material enterprise in China to achieve high-volume production of high-nickel NCM811.
The funds raised by Ronbay Technology during this offering will be used for the construction of the company's production projects, supplementary working capital and technology research and development. The listing has achieved enthusiastic response in the public markets. The comprehensive strength of Ronbay Technology gives investors the confidence in regards to the company's future sustainable development as well as its foothold in the capital markets.
Ronbay Technology’s strong technology background and promising future prospects is what propelled NIO Capital to invest during its B series financing. Ian Zhu, NIO Capital Managing Partner and Ronbay Technology Supervisory Committee Chairman, said: “The initial offering on China’s Science and Technology Innovation Board is a new milestone for Ronbay Technology. We are very confident in Ronbay Technology’s technological capabilities and its industry chain influence. After combining with NIO Capital’s resource advantages in the mobility, energy and technology sector, we have witnessed Ronbay Technology’s healthy and rapid development. We are strongly confident that the IPO will provide a broader development platform and boost Ronbay Technology to further heights."
Ian Zhu, NIO Capital Managing Partner and Ronbay Technology Supervisory Committee Chairman, giving a speech at Ronbay Technology’s IPO Event
After becoming an investor of Ronbay Technology, NIO Capital assisted the startup’s corresponding post-investment efforts. On the business cooperation level, NIO Capital effectively promoted the direct cooperation between Ronbay and its customers. In addition, NIO Capital also facilitated Ronbay Technology’s government relation efforts and gained local government support. On the business application level, NIO Capital promoted the “Lithium Power Triangle” concept – an industrial chain investment model. Furthermore, NIO Capital also introduced business opportunities with other portfolio companies including Aulton and YiQi Exchange. Together, the startups will synergize greatly in various energy application scenarios and jointly promote the development of the battery industry chain.
About Ronbay Technology
Established in 2014, Ronbay Technology focuses on the new energy lithium battery cathode material industry and aims to become the industry leader in providing the best and safest cathode materials. Ronbay Technology has more than 300 people working in the management and R&D team. Placing a strong emphasis in continuous R&D development, Ronbay Technology has had major breakthroughs in key core technologies and secured more than 60 industry-leading patents worldwide. In 2016, Ronbay Technology took the lead in breaking through and mastering the key process technology of high-nickel ternary cathode materials. In 2017, it became the first cathode material enterprise in China to achieve high-volume production of high-nickel NCM811.
According to market estimates, China's new energy vehicle sales will exceed 2 million vehicles in 2020. Benefiting from the strong demand for new energy vehicles, especially the demand for higher range of new energy vehicles, the market size of ternary cathode materials is experiencing explosive growth. NIO Capital is strongly convinced that Ronbay Technology will be the leading company in the China’s cathode material industry.