Nari Technology

NARI Technology Co., Ltd (Nari; Chinese: 国电南瑞; pinyin: Guódiàn Nánruì) is a partially state-owned publicly listed Chinese company that engages in the manufacture and sale of electrical equipment that includes industrial automation control products.

NARI Technology Co., Ltd

Trade name	NARI-TECH
Native name	国电南瑞科技股份有限公司
Formerly	NARI Technology Development
Company type	Public; State-owned enterprise
Traded as	SSE: 600406 CSI A50
Industry	Electrical equipment
Founded	February 28, 2001; 24 years ago (2001-02-28)
Headquarters	Nanjing, Jiangsu, China
Key people	Shan Shewu (Chairman) Zhang jianming (President)
Revenue	CN¥51.57 billion (2023)
Net income	CN¥7.65 billion (2023)
Total assets	CN¥86.09 billion (2023)
Total equity	CN¥50.38 billion (2023)
Owner	NARI Group (51%)
Number of employees	11,016 (2023)
Website	www.naritech.cn
Footnotes / references [1]

It is majority owned by the Nari Group which is directly under the State Grid Corporation of China.^[2]

Background

In 1973, the Nanjing Automation Research Institute (Nari Group) was established under the State Grid Corporation of China.^[3]

In February 2001, Nari Technology was established as a separate unit under the Nari Group.^[1]

On 16 October 2003, Nari held its initial public offering becoming a listed company on the Shanghai Stock Exchange.^[1][3]

In April 2023, Britain's National Grid terminated its contract with Nari's subsidiary, NR Electric and in December 2023, started removing components supplied by it for electric power transmission networks. While no reason was given, it was speculated it was due to cybersecurity concerns after advice was given by the National Cyber Security Centre. NR Electric had worked with National Grid since 2019 and stated the decision would cause “a material loss of income for the business.”^[2][4]

Business overview

Nari is a supplier of power and automation technologies in China.^[5]

Nari's main business involves the manufacturing of high-power insulated-gate bipolar junction transistors. It initially had to rely on third-party companies for outsourcing all testing in its research and development processes. However it was able to develop its own in-house testing process after implementing Simcenter Micred, a quality tester produced by Siemens.^[5]