Longgao Technology's IPO Application Accepted for ChiNext Board

Deep News04-26 22:41

Longgao Technology primarily engages in the research, development, production, sales, and service of high-performance permanent magnet synchronous motors. According to statistics from Frost & Sullivan, based on sales volume, the company is projected to hold over 70% of the market share in China's new energy mining truck drive motor sector by 2025, ranking first in the industry. In the field of new energy heavy-duty truck drive motors, it holds approximately 28% of the market share, placing it second in the industry. Additionally, the company ranks among the top players in market share for new energy bus drive motors and wind power pitch motors in China. For its upcoming listing, Longgao Technology plans to raise approximately 988 million yuan. After deducting issuance and related expenses, the funds will be allocated by priority to the following projects: the Intelligent Manufacturing Project for New Energy High-Performance Drive Motors (Phase I), the Headquarters Base and Intelligent Manufacturing Project for New Energy High-Performance Drive Motors (Phase II), the Industrialization Project for Annual Production of 15,000 High-Speed Refrigeration Compressor Motors and Industrial High-Efficiency Drive Systems, and the Research and Development Center Construction Project.

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