Recently, the connector company Ruikea successfully went public, and Kaiwang Electronics made its debut. China is the world's largest connector market. The successive listings of domestic connector companies can see the role of the Chinese market in promoting the domestic connector industry, and the development prospects of domestic connector companies can be seen.

In recent years, thanks to the continuous development of new energy vehicles, artificial intelligence, consumer electronics and other industries, the market demand for connectors has increased, and the global connector market has gradually expanded. According to data, the global connector market size in 2011 was US$48.923 billion, and it will grow to US$62.727 billion by 2020, with an average annual compound growth rate of 2.80%. It is estimated that by 2023, the global connector market will exceed US$90 billion.

In the global connector market in 2020, China's sales accounted for 32.18%, surpassing North America, Europe and other regions, becoming the world's largest connector market. It is reported that from 2011 to 2020, China's connector market has grown from 11.296 billion US dollars to 20.184 billion US dollars, with an average annual compound growth rate of 6.66%, which is significantly higher than the global average.

Last month, Suzhou Ruikea Connection System Co., Ltd. ("Rikea" for short) was successfully listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange. Ruikea is a high-tech enterprise focusing on the manufacture of connection system products. It specializes in the research and development, production and sales of photoelectric connectors, sensors, wiring harnesses, charging equipment, electromechanical equipment and other connection system products. It is a leading provider of integrated solution for connection system products in China.

At present, domestic connector companies have made major breakthroughs in 5G communications, new energy vehicles, consumer electronics and other fields, occupying a large market share, and RECORD has made innovative breakthroughs in both communications and new energy vehicles. In the field of communications, Ruikea has developed an integrated connector for photoelectric modules for wireless base stations, standing at the forefront of technology research and development, and has introduced a variety of board-to-board connectors, providing a powerful boost to the communications field. In the field of new energy vehicles, Ruikea launched the battery swap connector, which successfully solved the technical problems of the new energy vehicle battery swap. With its own technology and innovative research and development strength, it became the supplier of automotive connector products for company T in American and NIO.

In addition, at the 36th 2021 listing committee review meeting held by the Shenzhen Stock Exchange’s Growth Enterprise Market Listing Committee last month, the leading wire harness company Henan Kaiwang Electronic Technology Co., Ltd. (referred to as "Kaiwang Technology") had a successful IPO. According to Kaiwang Technology’s prospectus, the company’s IPO plans to raise 299 million yuan through the issuance of no more than 23.96 million shares to invest in "precision connectors and connection components capacity expansion", "R&D center construction" and " Three major projects such as “replenishing working capital”. Kaiwang Technology is a high-tech enterprise focusing on the R&D, production and sales of electronic precision cable connection components. The success of Kaiwang Technology this time means that another listed company will be added to the connector industry!

In the past year, five domestic connector companies have been successfully listed. The successive listings of domestic connector companies show that the continuous expansion of China's connector market has promoted the industry. With the gradual shift of the focus of the electronics manufacturing industry to mainland China, the domestic electronics manufacturing industry has gained a broad space for development, the market scale of connectors widely used in various products has also been expanded, and domestic connector companies have begun to rise.

In addition to the continuous increase of listed companies, the manufacturing level of domestic connectors has gradually moved closer to the leading foreign companies, moving towards a higher-end and more precise direction. As the largest connector market in China, China has brought huge demand for connectors and brought broad development space to the domestic connector industry. With the simultaneous improvement of domestic connector manufacturing level, domestic connector companies usher in major development opportunities, and the prospects are evident.