EP Equipment has listed on the SSEChinese forklift manufacturer EP Equipment has listed on the Shanghai Stock Exchange with the initial public offering (IPO) set to “fund strategic expansion initiatives” including a manufacturing facility with annual production capacity of 300,000.
EP Equipment, founded in 2007 and based in Hangzhou, will also use the funds raised through the IPO for investments in a robotics manufacturing project.
“These investments reflect EP Equipment’s commitment to advancing production automation and R&D capabilities, further strengthening the company’s market position in electric material handling equipment industry,” EP Equipment states.
EP Equipment says it has been China’s largest domestic electric warehouse equipment producer by volume and sales for the last 11 years and claims to have 35% market share.
In 2023, EP Equipment accounted for more than 30% of lithium-ion powered forklift sales within China.