Damon Group Lists on Shanghai Stock Exchange

Damon Group was officially listed on the Shanghai Stock Exchange

On 2 June 2020, Zhejiang Damon Technology Co., Ltd., China’s leading supplier of intelligent logistics systems and logistics equipment, was officially listed on the SSE STAR Market of the Shanghai Stock Exchange. The stock is referred to as "Damon Technology" and Stock code "688360".

Funds raised from the listing will be invested into four strategic areas: Digitalising our production plant, factory upgrades, next-generation logistics conveying and sorting system research and development and supplementary business capital.

Mr. Harry Zhuo, Chairman of Damon, said: "This listing can better help Damon become a global provider of intelligent logistics equipment, to make a more positive contribution to the socio-economic development and prosperity!"

Damon’s story began in 1997 when Mr. Harry Zhuo founded Damon Machinery Co., Ltd. in Huzhou. From the beginning Damon has always regarded technology as the core to a strong business and developed the first modular roller in China. When logistics was still in its infancy, Damon had already provided an automated logistics system to 8848, the first e-commerce company in China. Following this, Damon released China’s first high speed sliding shoe sorter and set a goal to become a leading brand in the logistics equipment industry.