Zhuhai RaySharp Technology, one of China's major manufacturers of security video surveillance products, went public Aug 5 on the Shenzhen Stock Exchange with plans to sell 17.2 million shares at 41.91 yuan ($6.48) each.

The stock price increased by 56.76 percent and closed at 65.7 yuan ($10.16) that day. The company intends to raise 721 million yuan ($112 million) to expand an industrialization project for digital security surveillance products, build an R&D center and marketing and operation platform, and supplement operation capital.

Founded in 2007, RaySharp is also known as Allianz Ruishi and specializes in the R&D, production, and sales of security video surveillance software and hardware. In July into September 2014, the company moved from 119 Huawei Rd, Qianshan Science & Technology Park to new facilities at 100 Keji 6th Road in the National Hi-Tech Zone (Tangjiawan).

Listing ceremony [Photo courtesy Zhuhai RaySharp Technology]

Main products include embedded digital hard-disk, internet protocol hard-disk, and professional vehicle-mounted hard-disk video recorders as well as analog and IP cameras for families, residential communities, enterprises, stores, and in vehicles.

The company has spent more than 183 million yuan ($28 million) in R&D over the past five years, and mastered independent core technologies for all its products. It has developed technology that integrates image processing, digital audio and video coding and decoding, storage, online transmission, intelligent analysis, and centralized management, and established a complete video surveillance technology system.

RaySharp is one of the major suppliers in the European and US security video surveillance markets. International renowned Swann, Lorex, Hanwha Techwin, and Harbor Freight Tools are among its clients. In addition, the company became Huawei's sole joint development manufacturer in the security video surveillance sector in March 2020.

RaySharp was rated 22nd by Germany-based industrial media Automation & Security in its 2019 Security 50 Ranking, which reviews sales revenue of the 50 most influential international companies in the physical security sector.

The rapid development of the company is attributed to a sound business environment and support facilities in Zhuhai. The Shenzhen listing injects a new impetus into RaySharp's specialization, refinement, and characterization development, said chairman Xu Jin.

Zhuhai is home to 37 listed enterprises, and the number ranks fifth in Guangdong Province (not counting Shenzhen). The city will promote more high-growth enterprises with certain scales and profits under key cultivation and help them grow leverage capital in the market, said Wang Pan, deputy director of the Zhuhai Financial Work Bureau.