On January 15, Hangzhou Gaote Electronic Equipment Co., Ltd. (Gaote Electronic) saw the status of its application for an initial public offering on the Shenzhen Stock Exchange's ChiNext board change to "registration submitted." CITIC Securities is acting as its sponsor, with plans to raise 850 million yuan.
According to its prospectus, Gaote Electronic is a national high-tech enterprise and a "Little Giant" specialized and sophisticated SME driven by technological innovation. It provides safe, reliable, efficient, stable, and more economical new energy storage battery management system (BMS) related products for the new energy industry.
For three consecutive years, the company has maintained a leading industry position in the shipment volume of BMS products for the large-scale energy storage sector, aiming to become a core supplier of globally leading solutions for enhancing the safety and value of new energy storage systems.
A BMS serves as the "nerve center" of a new energy storage system, responsible for multi-dimensional data acquisition, diagnostics, safety management, and proactive maintenance of the battery system to ensure its safe, reliable, stable, and economical operation.
During the reporting period, the company's energy storage BMS related products have been widely used in large-scale high-voltage energy storage power stations on the power source/grid side, as well as in commercial and industrial energy storage, residential energy storage, and other fields. Concurrently, the company's products also cover backup power BMS for data centers, communication base stations, and rail transit; power battery BMS for new energy vehicles and electric vessels; and related businesses such as power detection.
Furthermore, keeping pace with national power market reform trends and leveraging the data acquisition and aggregation characteristics of BMS in energy storage systems, the company has developed integrated control units and data services. These integrate data from microgrid loads, energy storage, photovoltaics, and charging piles to achieve functions such as microgrid equipment monitoring, fault diagnosis, and energy management.
These developments provide crucial support for the nation's construction of a new power system, the realization of a green and safe energy structure transformation, the cultivation of new quality productive forces in the new energy industry, and the achievement of the strategic "Carbon Peak, Carbon Neutrality" goals.
Categorized by downstream application fields, the company's main products are energy storage BMS modules and related products. Building on the data acquisition and aggregation characteristics of BMS, it has expanded into integrated control units and data services, while also covering products like backup power BMS and power battery BMS.
The company has consistently maintained a leading market position in product shipment volume within the large-scale energy storage BMS field, enjoying high market recognition and brand acceptance.
According to the "2024 China New Energy Storage Industry Development White Paper" released by CESA, the company ranked first in the list of TOP 10 Chinese new energy storage BMS enterprises for 2023. Statistics from the China Electricity Council and the National Electrochemical Energy Storage Power Station Safety Monitoring Information Platform indicate that as of the end of 2024 and the end of June 2025, BMS manufacturers ranked in the top five by installed capacity share of operational power stations included Gaote Electronic, Xieneng Technology, Hyperstrong, BYD, and Sungrow.
Financially, for the years 2022, 2023, 2024, and the first half of 2025, the company achieved operating revenues of approximately 346 million yuan, 779 million yuan, 919 million yuan, and 507 million yuan, respectively. During the same periods, the company's net profits were 53.7526 million yuan, 88.2292 million yuan, 98.4223 million yuan, and 51.418 million yuan, respectively.
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