Inovance Technology Company Profile: History, Financials, Products and Stock
Updated: 7 days ago
Inovance Technology is one of China's largest industrial automation companies and the country's second-largest domestic producer of industrial robots. It was founded in 2003 by a group of former Huawei engineers and reported revenue of CNY 30.4 billion for 2023. This profile sets out its history, results, products and listing.
Inovance at a Glance
Fact | Detail |
Company | Shenzhen Inovance Technology Co., Ltd. |
Founded | April 2003 |
Founder | Zhu Xingming, with other former Huawei engineers |
Headquarters | Shenzhen, Guangdong, China |
Employees | 23,685 in 2023 |
Revenue | CNY 30.42 billion in 2023 |
Net income | CNY 4.78 billion in 2023 |
Stock listing | Shenzhen Stock Exchange: 300124 |
Company History
Zhu Xingming and his colleagues set up Inovance in 2003 to compete with foreign suppliers at the high end of the automation market. Its first products were frequency inverters; programmable logic controllers and servo systems followed. It listed in Shenzhen on September 28, 2010. In 2021 it raised CNY 2.1 billion in a private placement, partly to buy the remaining 49% of Inovance Control Technology.
Key milestones
2003: Founded in Shenzhen.
2010: Listed on the Shenzhen Stock Exchange.
2021: CNY 2.1 billion private placement.
January 2024: Partnership on an engineer training program and robotics research institute.
April 2024: Founder states the aim of reaching the global top three in its sector within five years.
January 2026: Reported to be considering a second listing in Hong Kong.
Products
Industrial automation: frequency inverters, servo systems, programmable logic controllers and other control products.
Robotics: industrial robots, in which it ranks second among Chinese producers.
Automotive: electrical systems for vehicles, through its subsidiary Suzhou Inovance Automotive.
Because it makes the drives, motors and controllers itself, Inovance supplies both complete robots and the components inside other companies' machines.
Financial Performance
Item | 2023 |
Revenue | CNY 30.42 billion |
Net income | CNY 4.78 billion |
Net margin | About 16% |
These are the latest figures confirmed in the sources used here. Unlike many Chinese robot makers, Inovance is solidly profitable, because robots are one part of a much larger automation business.
Stock Information
Item | Detail |
Listing | Shenzhen Stock Exchange: 300124 |
Listed since | September 28, 2010 |
Index | Constituent of the CSI A50 |
Check a current market data source for the share price and market value.
Note: this section is general information, not investment advice.
Strengths and Challenges
Strengths
Scale and profitability well above most Chinese robot makers.
Its own core components.
A strong position in the Chinese automation market.
Challenges
Global brands that still lead at the high end.
Dependence on Chinese manufacturing investment.
Current Catalogue Coverage
Catalogue checked on 15 October 2026: 3 associated product records. The links below are representative entries, rather than a claim that every historical model is currently available.
Inovance FAQ
Is Inovance publicly traded?
Yes, on the Shenzhen Stock Exchange under the code 300124.
Who founded Inovance?
Zhu Xingming and other former Huawei engineers, in 2003.
What does Inovance make?
Inverters, servo systems, controllers, industrial robots and electrical systems for vehicles.
How big is Inovance?
Revenue was CNY 30.42 billion in 2023, with 23,685 employees.
Does Inovance make robots?
Yes. It is described as China's second-largest domestic producer of industrial robots.
Sources
Wikipedia: Inovance
