On September 16, Anda Precision Components (920202.BJ) has initiated its subscription process on the Beijing Stock Exchange, with an offering price of RMB 7.55 per share. The maximum subscription volume is set at 1.19 million shares, and the price-to-earnings ratio stands at 13.50 times. Caitong Securities is serving as the sponsor institution for this listing.
According to the prospectus, the company specializes in the research, development, production, and sale of precision aluminum alloy die-cast components for automotive applications. Its primary product portfolio includes powertrain components such as oil pans and cover assemblies; new energy vehicle three-electric system parts like inverter housings and motor casings; and suspension system components including mounting brackets.
Through extensive market development and customer relationship building over the years, the company has established long-term, stable partnerships with its key clients. During the reporting period, its main customers have been prominent domestic and international automotive OEMs and first-tier parts suppliers, including the Volkswagen Group, Saic Motor Corporation Limited, SAIC-GM, SAIC Volkswagen, Hyundai Transys, Fututech, and China FAW Group.
The company generates revenue primarily through the development, production, and sale of its precision aluminum alloy die-cast automotive components. As these products are customized, the company undertakes product development, design, and mass production based on specific client requirements, adopting a make-to-order production model with procurement aligned to production plans. Its output is primarily sold to automotive OEMs and first-tier parts suppliers.
Die-casting is a metal casting process that involves forcing molten metal under high pressure into a mold cavity, where it cools and solidifies under pressure. Compared to other casting techniques, die-casting is the most advanced and efficient method, representing a near-net-shape metal hot-forming technology with minimal or zero machining requirements. Precision die-cast products are favored across numerous manufacturing sectors for their thin walls, complex geometries, precise dimensions, and smooth surfaces, finding wide application in automotive, telecommunications infrastructure, electromechanical equipment, household appliances, and medical devices.
During the reporting period, the company's main business revenue breakdown by product category is as follows. According to the industry classification guidelines issued by the China Association for Public Companies, the company falls under "Automobile Manufacturing (C36)" in the sub-category of "Automotive Parts and Accessories Manufacturing (C367)." Furthermore, based on the National Bureau of Statistics' "Industrial Classification for National Economic Activities (GB/T4754-2017)," it is also classified under "Automobile Manufacturing (C36)" in the sub-category of "Automotive Parts and Accessories Manufacturing (C3670)."
Financially, the company reported operating revenues of approximately RMB 924 million, RMB 911 million, and RMB 1.015 billion for the fiscal years 2023, 2024, and 2025, respectively. During the same periods, its net profits were approximately RMB 58 million, RMB 58 million, and RMB 70 million.
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