On June 25th, the IPO application review status for Superpower Electric and Shichuangyi on the Shenzhen Stock Exchange's ChiNext board was updated to "accepted."
Superpower Electric's sponsor is China Securities Co., Ltd., and the company aims to raise approximately 1.21612 billion yuan. According to its prospectus, Superpower Electric is a leading supplier of automotive thermal management components and system modules. Leveraging its core motor and electronic control technology, the company has built a product portfolio covering major automotive thermal management systems, including powertrain thermal management, passenger cabin thermal management, and battery thermal management. Its main products include automotive thermal management components such as electronic fans, air conditioning blowers, radiators, and WPTC heaters, as well as system modules like front-end cooling modules. The company holds a leading market share in automotive electronic fans and air conditioning blowers and is one of the first domestic thermal management component manufacturers to upgrade and transform into a system module supplier.
Shichuangyi's sponsor is CITIC Securities, and the company plans to raise around 1.842 billion yuan. The prospectus indicates that Shichuangyi primarily engages in the R&D, packaging and testing, production, and sales of semiconductor memory. Its main products can be categorized into embedded storage chips and storage modules. The products are mainly used in areas such as AI intelligent terminals, smart robots, smart vehicles, industrial and medical equipment, and the company is actively expanding into AI data center storage and automotive-grade storage products. Shichuangyi is one of the few independent storage chip module manufacturers in China with capabilities spanning from storage chip packaging to product manufacturing. Adhering to an integrated business strategy of "R&D, design, packaging, testing, and intelligent manufacturing," the company possesses core competitiveness in its business model, product development, advanced packaging and testing manufacturing, industry chain resources, proprietary brand building, and global operations.
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