UL Solutions expands IoT lab in China for advanced product testing

NORTHBROOK, Ill. - UL Solutions Inc. (NYSE: ULS), a $11 billion market cap company specializing in applied safety science, has inaugurated its expanded Internet of Things (IoT) laboratory at Songshan Lake in Dongguan, China. The company maintains impressive gross profit margins of 48.5% and generated $2.87 billion in revenue over the last twelve months. The new 36,000-square-foot facility, which opened today, is equipped with state-of-the-art testing capabilities for a range of products, including those related to electromagnetic compatibility (EMC), wireless devices, telecommunications, automotive, and IoT.

The laboratory’s enhanced EMC chambers are designed to evaluate whether products can operate without causing or being affected by electromagnetic interference. This is crucial for a variety of devices, from common household appliances to industrial equipment. The expanded facility’s capabilities are particularly beneficial for testing large items and supporting advancements in wireless technology. According to InvestingPro data, UL Solutions has demonstrated strong market performance with a 58.75% return over the past year, reflecting investor confidence in its strategic expansion initiatives.

Todd Denison, senior vice president of Global Regions at UL Solutions, highlighted that the investment in the Songshan Lake IoT Laboratory is part of the company’s commitment to assist customers in demonstrating compliance with safety and interoperability standards not only in China but also in the global market.

In addition to EMC testing, the laboratory offers a broad spectrum of other services. These include advanced testing for 5G New Radio and Wi-Fi technologies, specialized automotive testing, and IoT evaluations that encompass cybersecurity and interoperability certifications. The facility also provides advanced Wi-Fi 6E/7 testing systems and a USB-Type C test platform to comply with the CE Radio Equipment Directive.

The Songshan Lake IoT laboratory complements UL Solutions’ global network of facilities that offer testing and certification services for connected products and wireless devices. InvestingPro analysis reveals 10+ additional insights about UL Solutions’ financial health and growth prospects, with the company receiving a "GOOD" overall financial health rating. Subscribers can access detailed metrics and expert analysis to better understand the company’s market position. The company operates in various locations worldwide, including India, Italy, Japan, South Korea, Taiwan, the U.K., and the U.S.

UL Solutions serves customers in over 110 countries, providing a range of services that include testing, inspection, and certification, as well as software products and advisory offerings. The UL Mark is recognized as a symbol of trust in the safety of customers’ products.

This expansion is based on a press release statement and reflects UL Solutions’ efforts to support manufacturers in the rapidly evolving field of connected devices and wireless technology. While the company shows strong operational metrics, InvestingPro analysis suggests the stock is currently trading above its Fair Value, with analysts having recently revised their earnings expectations downward for the upcoming period.

In other recent news, UL Solutions Inc. has reported several key developments that may interest investors. The company announced an increase in its quarterly dividend to $0.13 per share, a 4% rise from the previous rate, reflecting a commitment to providing returns to shareholders. Meanwhile, Stifel analysts have raised their price target for UL Solutions to $59, maintaining a Buy rating due to the company’s potential for growth across its business sectors and confidence in meeting 2025 guidance. Additionally, UL Solutions has appointed Scott D’Angelo as the new executive vice president and chief legal officer, effective April 21, 2025, bringing significant legal and compliance experience to the company. In board-related news, UL Solutions will not re-nominate Director Frank Coyne due to retirement policy and Director Lisa Lambert for personal reasons, while nominating Vikram Kini, CFO of Ingersoll Rand Inc., to join the board. The company has also approved a reduction in the number of board members from 13 to 12. These developments highlight UL Solutions’ strategic adjustments and ongoing efforts to align with market trends and shareholder interests.

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