Emma Tech IPO, a maker of electric bicycles, plans to list on the main board of the Shanghai Stock Exchange later.

SMM News: under the hot production and sales of electric bicycles, recently, a veteran electric bicycle manufacturer finally got the "ticket" of the capital market after going through twists and turns. The announcement of the audit results of the 169th meeting of the issuance Review Committee of the Securities Regulatory Commission held on November 26 showed that Emma Technology Group Co., Ltd. (hereinafter referred to as "Emma Technology") was first approved.

According to the data, Emma Technology was founded in 1999 and entered the electric bicycle industry in 2004. It is one of the earliest electric bicycle manufacturers in China. The company's main business is the R & D, production and sales of electric bicycles, electric mopeds and electric motorcycles.

After the collapse of the A-share IPO in 2018, in August 2019, Emma Technology re-submitted its prospectus for listing on the main board of the Shanghai Stock Exchange, with a planned public offering of 65 million shares and a proposed fund of 1.681 billion yuan for 13 fund-raising projects. Including: the first phase project of electric bicycle processing and manufacturing of Tianjin Emma Technology Co., Ltd., the second phase of electric bicycle processing and manufacturing of Tianjin Emma Technology Co., Ltd., the third phase project of electric bicycle processing and manufacturing of Tianjin Emma Technology Co., Ltd., the fourth phase project of electric bicycle processing and manufacturing of Tianjin Emma Technology Co., Ltd., The fifth phase project of electric bicycle processing and manufacturing of Tianjin Emma Technology Co., Ltd., the sixth phase of electric bicycle processing and manufacturing of Tianjin Emma Technology Co., Ltd., the technical transformation project of electric bicycle production line of Tianjin Emma Technology Co., Ltd., the technical transformation project of plastic parts spraying production line of Jiangsu Emma Technology Co., Ltd., The R & D center construction project of Tianjin Emma Automobile Technology Co., Ltd., the R & D center construction project of Jiangsu Emma Automobile Technology Co., Ltd., the information upgrading and big data platform construction project of Emma Technology Group Co., Ltd., the terminal storefront marketing network upgrade project of Emma Technology Group Co., Ltd., supplementary liquidity project.

However, just two days before the meeting in late November 2019, the CSRC announced that it had cancelled the review of the company's issuance filing documents because of Emma Technology's patent lawsuit.

In addition, it is reported that after 20 years of development, the global sales of Emma electric bicycles, electric motorcycles, electric tricycles and electric four-wheelers have exceeded 41 million, taking the lead in the industry.