Intemo Technology Co., Ltd. (Intemo) has had its application for an initial public offering on the Shenzhen Stock Exchange's ChiNext board accepted.
The company, a prominent integrated service provider for powertrain research and development testing, is being sponsored by Huatai United Securities and aims to raise 1 billion yuan.
Established in 2014, Intemo specializes in offering comprehensive, one-stop R&D testing services and equipment to automakers and powertrain system manufacturers.
The firm has achieved a breakthrough in localizing high-end R&D testing services and equipment, addressing a gap in China's automotive industry chain.
Leveraging its self-developed core technology system, Intemo has built a one-stop testing service capability covering the entire powertrain development cycle.
Its business has expanded from the traditional automotive sector into strategic national areas including shipbuilding, aviation, the low-altitude economy, and computing power centers, contributing to the upgrade and transformation of power and energy systems across multiple industries.
The company focuses on the R&D, production, and sales of powertrain testing services and equipment, establishing a full-process testing service system that covers prototype functional testing, manual sample design verification, and batch sample product validation.
It provides one-stop R&D testing solutions to leading domestic and international automakers such as Byd Company Limited (BYD), Li Auto, Xiaomi, NIO Inc., BMW, and Mercedes Benz Group AG, as well as to renowned powertrain and component manufacturers like Bosch, ZF, and Weichai Power Co.,Ltd. (Weichai Power), building a solid customer base and strong market reputation.
In the new energy vehicle sector, Intemo has established one-stop testing capabilities from components and subsystems to assemblies and complete vehicles, covering both pure electric and hybrid powertrain technologies.
Component testing includes items like motor stators, rotors, and semiconductor power modules for motor controllers.
Subsystem testing covers drive motors, motor controllers, reducers, on-board chargers (OBC), DC-DC converters, and range extenders.
Assembly-level testing includes powertrain systems (covering both pure electric and hybrid systems) and thermal management systems, while vehicle testing encompasses both pure electric and hybrid vehicles.
For conventional fuel vehicles, the company's testing scope covers engines, transmissions, powertrains, and complete vehicles.
Engine testing parameters include power, torque, speed, fuel consumption, fuel temperature, lubricating oil pressure and temperature, and intake/exhaust pressure and temperature.
Its engine test benches cover a power range from 50kW to 5000kW for both gasoline and diesel engines, serving applications in passenger cars, commercial vehicles, construction machinery, marine power, and large generator sets.
The company has provided R&D testing services to leading engine manufacturers including Weichai Power, Yuchai, Cummins, and Shanghai New Power.
In the low-carbon and zero-carbon field, Intemo's testing capabilities cover alternative fuel internal combustion engines and fuel cell powertrain systems.
Testing for alternative fuel engines includes those using natural gas, methanol, hydrogen, ammonia, and hydrogen-ammonia blends.
For fuel cell systems, testing capabilities cover complete fuel cell engines as well as cathode and anode subsystems.
Intemo stated that the proceeds from the IPO will be primarily used for investment in the following projects.
Financially, the company reported revenues of approximately 381 million yuan, 421 million yuan, and 667 million yuan for 2023, 2024, and 2025, respectively.
During the same periods, it recorded net profits of approximately 50.87 million yuan, 24.79 million yuan, and 93.58 million yuan, respectively.
Comments