Inventory: Top 10 events in the elevator industry in 2020

1、 The 14th China International Elevator Exhibition was successfully held
On August 18, 2020, the world's largest elevator exhibition, the China International Elevator Exhibition, was held at the Shanghai National Convention and Exhibition Center. Li Shoulin, President of the China Elevator Association, and Zhang Lexiang, Secretary General of the China Elevator Association, delivered speeches at the conference. Due to the impact of the epidemic, smart elevators are very prominent at this exhibition, with voice calls, gesture calls, foot buttons, car antivirus, and other popular features. IoT light curtains, renovation plans for old elevators, high-speed elevators, installation of elevators in old buildings, 40T ultra large load MC steel core freight elevators with nylon wheels, inclined elevators, and escalator renovation plans are all dazzling highlights.
 
2、 On demand maintenance+release detection
In April 2020, the State Administration for Market Regulation issued the "Opinions of the State Administration for Market Regulation on Further Improving the Mode of Elevator Maintenance and Adjusting the Pilot Work of Elevator Inspection and Testing Methods (State Administration for Market Regulation Special [2020] No. 56)", further encouraging on-demand maintenance. Encourage social forces to establish elevator inspection agencies. Subsequently, this policy was followed up nationwide.
So elevator inspection companies were established in various places, and the number of elevator inspector applicants increased significantly.
 
3、 Real estate giants enter elevator manufacturing industry
Guangdong Bozhilin Robotics Co., Ltd., a wholly-owned subsidiary of real estate giant Country Garden, established Guangdong Boan Elevator Co., Ltd. in Foshan, Guangdong on July 6, 2020. The company's business scope includes elevator manufacturing and has hired senior elevator industry manager Chen Xuejun as the legal representative and chief executive.
This is the first real estate giant to enter the elevator manufacturing industry. We will wait and see if it will inspire other real estate giants to follow suit.
 
4、 Home appliance giant enters elevator manufacturing industry
On December 11, 2020, Midea Group's HVAC and Building Division and Chinese elevator national brand Lingwang Elevator held a merger and strategic cooperation launch ceremony at Lingwang Elevator headquarters in Foshan, Guangdong Province. After the completion of this merger, Midea became the actual controller of Lingwang Elevator. With the strong capital intervention of Midea, Lingwang Elevator will enter a new stage of rapid development. This is the first Chinese home appliance giant to enter the elevator manufacturing industry.
On December 30th, Lingwang announced the development of a 50 ton ultra large load truck, which is the largest load truck developed globally so far.
 
 
 
5、 CRRC Urban Transportation Enters Elevator Manufacturing Industry in Large Scale
On September 29th, Shanghai Zhongzhen Transportation Equipment Co., Ltd., a subsidiary of CRRC Urban Transportation Co., Ltd., held a holding cooperation signing ceremony at the headquarters of CRRC Communications. According to their agreement, Zhongzhen Equipment acquired 65% of the shares of Sini Electromechanical (formerly Sini Elevator) and has already made the down payment to Sini Electromechanical in accordance with the agreement.
On December 24, 2020, Gengshang Electromechanical, a subsidiary of CRRC Urban Transport, signed a capital increase and holding contract with Suzhou Tailing Elevator. This means that Gengshang Electromechanical acquired most of Suzhou Tailing Elevator's shares and became the controlling shareholder of Suzhou Tailing Elevator.
On December 27, 2020, CRRC Urban Transport Co., Ltd.'s elevator industry platform, Gengshang Electromechanical, signed a strategic integration agreement with Hengda Fuji. Hengda Fuji officially joined CRRC Urban Transport's Gengshang Elevator Industry Formation.
CRRC Urban Transport has also partnered with listed company Meilun Elevator Co., Ltd. and state-owned capital to establish the Suzhou Wujiang Green Vein Industry Investment Center (Limited Partnership), which will acquire partial or full equity of elevator machines or components for industrial integration.
CRRC Urban Transportation is also partnering with Greenland to spend 26 billion yuan to build the first large-scale intelligent manufacturing industrial zone in the Yangtze River Delta, which includes elevator manufacturing and integration of the elevator industry, such as acquisitions.
CRRC Urban Transportation represents the expansion of central enterprises, local state-owned enterprises, and private capital mixed in the elevator manufacturing industry.
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(1) Heavy weight! Sini Elevator has been acquired! (2) Heavy Duty: Shangshang Electromechanical acquires Suzhou Tailing Elevator! CRRC traffic has grown again!
6、 ThyssenKrupp Elevator becomes an independent company+Otis splits and goes public
On February 27, 2020, ThyssenKrupp decided to sell its elevator business to a consortium of Advent and Cinven for 17.2 billion euros. In August 2020, ThyssenKrupp Elevator, a leading company in the global elevator and escalator market, announced that all relevant regulatory agencies had unconditionally approved the acquisition of Anhong and Shengfeng. ThyssenKrupp Elevator has completed its ownership change and become an independent company. CEO Peter Walker stated, "The successful completion of the transaction marks a new chapter in our company's history. Together with the new owner, we will further consolidate our position as an independent, globally leading German escalator company, working alongside our dedicated employees to fully leverage our unique advantages and make service the core of our business." This is the largest equity transaction in the global elevator industry in recent years.
On April 3, 2020, Otis completed its spin off from United Technologies Corporation (NYSE: UTX) and went public independently. As early as April 1920, Otis had already been listed on the New York Stock Exchange. After a hundred years, Otis returned to the stock market as a strong player in the elevator industry with a current market value of about $75 billion.
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7、 Central enterprises enter the industry of installing elevators in old buildings
On September 24, 2020, the unveiling ceremony of China National Nuclear Construction Research Urban Renewal Co., Ltd. was held at the Beijing Nuclear Construction Building. The company was jointly established by Fujian Kuaike Urban Construction Elevator Co., Ltd., a leading brand in the domestic elevator industry, China National Nuclear Industry Construction Co., Ltd., and China State Construction Technology Group Co., Ltd. Building a high-level platform for urban renewal and providing better services for partners in the installation of elevators in old buildings. This is the first time that a state-owned enterprise has entered the field of installing elevators.
8、 Property giant enters elevator maintenance industry
On the afternoon of January 8, 2020, Country Garden Smart Property Services Group Co., Ltd. (referred to as "Country Garden Services") reached an equity cooperation agreement with Liyang Zhongli Elevator Engineering Co., Ltd. (referred to as "Liyang Zhongli"), and Country Garden Services officially acquired 60% equity of Liyang Zhongli.
Two months after Liyang Zhongli was partially acquired, another elevator maintenance company was established: Guangdong Zhongyuan Elevator Engineering Co., Ltd.
As of now, according to incomplete statistics, property giants that have entered the elevator maintenance industry include Vanke, Zhejiang Sanhe Elevator Co., Ltd., Times Property, Guangdong Jun'an Elevator Co., Ltd., Xincheng Yue Service, Jiangsu Dashun Elevator Engineering Co., Ltd., and Changzhou Shengling Equipment Management Co., Ltd. Poly: Shanxi Poly Deo Elevator Co., Ltd
9、 The decrease in the voting ratio for installing elevators in old buildings
Starting from January 1, 2021, the voting ratio of owners who add elevators to existing residential buildings shall be implemented in accordance with Article 278 of the Civil Code of the People's Republic of China. That is, owners who apply to add elevators shall have more than two-thirds of the exclusive area and more than two-thirds of the total number of owners participate in the voting, and shall obtain the consent of more than three-quarters of the exclusive area and more than three-quarters of the total number of owners participating in the voting.
10、 Aolida Elevator has manufactured a 40 ton freight elevator
In October 2020, the AEF200 40 ton traction type super large load freight elevator developed by Aolida officially passed the inspection of Zhejiang Special Equipment Science Research Institute and National Elevator Product Quality Supervision and Inspection Center (Zhejiang), and successfully obtained the type test report, becoming the first elevator enterprise in China to have the manufacturing qualification for 40 ton super large load freight elevators.
This is the largest conventional freight elevator manufactured by Chinese elevator companies so far. Previously, we published two 40 ton freight elevator projects located in Guangdong, but those two were imported from South Korea. This type of elevator has low market demand, but there is still market demand. The trend of market development is towards ultra large load freight elevators and high-speed freight elevators.