Cubic Invests in LOPE and Jingding Electric to Create a Comprehensive Supply Chain for Premixed Gas Condensing Boilers
Move Towards a One-Stop Solution for High-Efficiency, Low-Emission Gas Heating Industry
WUHAN, China, June 13, 2024 /PRNewswire/ -- Recently, Cubic Sensor and Instrument Co., Ltd. (Cubic) announced its strategic investment in Zhongshan LOPE Thermal Technology Ltd. (LOPE) and Guangzhou Jingding Electric Technology Co., Ltd. (Jingding Electric) at the signing ceremony at Cubic R&D center. Cubic will acquire a 57.14% equity stake in LOPE and a 51% stake in Jingding Electric through a combination of capital transfer and capital increase. This strategic move marks a significant expansion in Cubic's portfolio and deepened cooperation within the industry.
Leveraging its gas sensor technology platform and the technical and industrial accumulation of its core management team in the field of combustion science and technology, Cubic has established a strong R&D team in 2022 and initiated the development of low-carbon gas combustion technologies, aiming to build an ecosystem for residential, commercial, and industrial gas fired boilers with sensors, actuators, and controllers as the core supply chain. Currently, Cubic has made breakthroughs in the R&D of gas sensors for new types of full premixed condensing wall-mounted gas boilers, brushless direct current (BLDC) fans and intelligent gas combustion controllers, earning recognition from experts within the industry. Simultaneously, experimental facilities have been established for key components, including gas proportional valves, gas burners, and heat exchangers for full premixed condensing wall-mounted gas boilers. Cubic has initiated business negotiations for cooperation with Chinese core component supply enterprises.
Through the strategic investment, Cubic aims to integrate resources related to stainless steel heat exchangers, burners, gas proportional valves, BLDC fans, gas sensors, intelligent gas combustion controllers, and other components involved in full premixed condensing wall-mounted gas boilers, establishing a "sensor-actuator-controller" one-stop supply chain solution in this field.
Dr. Youhui Xiong, Chairman of Cubic, has high expectations for this strategic investment in LOPE and Jingding Electric. He thinks that LOPE has become one of the few enterprises globally capable of mass-production of stainless-steel condensing heat exchangers after 7 years of innovation, leveraging international scientific and technological resources. Jingding Electric, with nearly two-decade experience in the gas proportional valve field, is an important standard drafting or participating member in the China gas appliance industry. Cubic possesses significant technological and industrial advantages in gas sensors, gas metering, and intelligent gas controllers. By leveraging significant industrial opportunities and the expansive, cohesive domestic market fostered by the 'low-carbon' goals, their tripartite collaboration and deep cooperation are set to powerfully accelerate the evolution of China's full premixed condensing wall-mounted gas boiler sector towards premium branding.
About Cubic
Cubic Sensor and Instrument Co., Ltd. is a publicly listed company on the Shanghai Stock Exchange (stock code:688665), specializing in gas sensors and gas analyzers. Currently, Cubic has obtained over 100 patents and manufactures abundant products widely for various fields. With decade-long dedications to technical innovations, strict quality control and global business strategies, Cubic has obtained the recognition of domestic and overseas leading companies in different fields. Cubic products have been exported to over 80 countries and regions, besides, Cubic is moving towards a higher target to be the international brand in the field of gas sensors and instruments.
Contact:
Belinda Tong
Tel: 86 27-8162 8832
Mail: sales@gassensor.com.cn
Web: en.gassensor.com.cn/
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