LiGao New Energy Technology Co., Ltd. has moved to the inquiry stage in its application for listing on the Shenzhen Stock Exchange's ChiNext board. The company aims to raise a total of 1.925 billion yuan, with China Securities serving as its sponsor.
According to the prospectus, LiGao New Energy is a leading domestic BMS provider, specializing in the independent research, development, production, sales, and service of BMS modules. The company has expanded its offerings to include high-voltage power distribution modules, new energy management control system products, PCBA components, and integrated electronic and electrical application solutions related to wiring harnesses. Adhering to a philosophy of integrity, pragmatism, dedication, and innovation, LiGao focuses on building core competitiveness in intelligent control and key components for the new energy sector, delivering safe, stable, and efficient products and services to downstream power battery manufacturers, new energy vehicle makers, and energy storage companies.
Data from NE Times indicates that in the 2024 and 2025 Chinese new energy passenger vehicle BMS market, LiGao ranked third in installation volume, following only BYD and CATL, and first among third-party BMS suppliers.
In terms of technological R&D, the company has mastered a range of core technologies, including battery system state estimation, full-state battery balancing, active battery safety protection, BMS functional and information security, high-efficiency and reliable EOL test equipment development, data fusion applications for new energy vehicle connectivity, domain control technology for next-generation electronic and electrical architectures, integration technology for core electronic control components in energy storage systems, and energy control technology for microgrid energy storage systems. LiGao holds 93 invention patents, 84 software copyrights, and has participated in the formulation of three national standards. Some of its core technologies have been recognized as internationally advanced by institutions such as the China Society of Automotive Engineers.
In smart manufacturing, LiGao adopts an intelligent production and delivery model, with key production bases in locations such as Yantai and Huzhou. The company possesses industry-leading smart manufacturing capabilities and continuously enhances automation, digitalization, and intelligence levels through innovative tools such as automated production lines tailored to its business model, real-time visual IoT production monitoring systems, and smart manufacturing management systems. These efforts improve both production efficiency and product quality.
Thanks to years of industry experience, technological expertise, and advanced manufacturing capabilities, LiGao has earned high recognition from customers and established a strong brand reputation. Its products are used by six of the world's top ten power battery manufacturers, including CATL, LG Energy Solution, CALB, Gotion High-tech, EVE Energy, and SVOLT, according to global power battery installation rankings for 2025 released by SNE Research.
Additionally, LiGao's products are ultimately used in vehicles produced by 11 of the top 15 new energy vehicle manufacturers in China, including Geely Auto, SAIC Motor, Changan Automobile, Dongfeng Motor, Chery Auto, Leapmotor, FAW Group, GAC Group, XPeng Motors, Great Wall Motor Company Limited, and BAIC Group, based on 2025 sales rankings from the China Association of Automobile Manufacturers. The company is also actively expanding into overseas markets, having established business partnerships with international automakers and battery producers such as Volkswagen, Stellantis, and LG Energy Solution.
Regarding the use of raised funds, the company plans to allocate the capital according to its disclosed application plan. Financially, LiGao reported revenues of approximately 559 million yuan, 803 million yuan, 1.633 billion yuan, and 1.916 billion yuan for the years 2022, 2023, 2024, and the first nine months of 2025, respectively. Net profits for the same periods were about 90.6889 million yuan, 96.2591 million yuan, 160 million yuan, and 212 million yuan.
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