Guangdong Zhengyang Sensing Technology Co., Ltd., known as Zhengyang Technology, has seen its application for listing on the Shenzhen Stock Exchange's ChiNext board progress to the "Inquiry" stage as of May 22. The company, with Huatai United Securities as its sponsor, aims to raise 1.2 billion yuan. According to its prospectus, Zhengyang Technology is a global automotive parts supplier dedicated to continuous innovation in key automotive electronics fields, integrating R&D, production, sales, and service.
Adhering to a "technology-driven, deep development" strategy, the company is expanding into the new energy business sector. This expansion leverages its over two decades of accumulated core underlying technologies in sensors and thermal management, precision manufacturing processes, and deep understanding of the global commercial vehicle supply chain, while consolidating its market-leading position in products like urea quality sensors.
The company's main products include sensors and integrated assemblies, as well as new energy products. The sensor and assembly line comprises urea quality sensors, urea level sensors, urea tank assemblies, and other sensors and accessories for temperature, pressure, and fuel, forming a vertically integrated product system. New energy products include components and systems for new energy thermal management, such as cold plates, PTC heaters, water-cooling units, and pipelines.
The company's sensor and assembly products are widely used in road vehicles, non-road machinery, and marine applications. According to certification from the China Internal Combustion Engine Industry Association, the company's core urea sensor product has held the top market share in China for ten consecutive years from 2015 to 2024. Zhengyang Technology is also one of the few domestic suppliers to have fully entered the supply systems of internationally renowned OEMs and to participate simultaneously in customers' cutting-edge technology development. It has obtained Tier-1 supplier qualifications for over 100 global OEMs.
The new energy product line represents a recent expansion based on the company's accumulated technology and process expertise in various sensors and thermal management. These products are primarily used in the thermal management sectors of new energy vehicles and energy storage. During the reporting period, the company's new energy products have gradually achieved mass production and commenced batch supply to well-known enterprises including Sany Group, Dongfeng Group, Shenxiang Technology, Wuling New Energy, JAC Group, Great Wall Motor Company Limited, Green Control Transmission, and Guoxuan Xiang Aluminum.
Revenue from the new energy business during the reporting period was approximately 8.4772 million yuan, 39.8764 million yuan, and 181.2508 million yuan, respectively, representing a compound annual growth rate of 362.39%, indicating rapid growth in this segment.
Zhengyang Technology is based in China with a global footprint, operating production bases or subsidiaries in China, the United States, Mexico, the Netherlands, India, and Thailand. In 2025, it was recognized by the Guangdong Provincial Department of Commerce as a "Guangdong Provincial Multinational Corporation Headquarters Institution." Guided by its group operation strategy, the company continuously enhances its capability for rapid global customer response and the advantage of localized customer service by coordinating subsidiaries across different regions.
Financially, for the years 2023, 2024, and 2025, the company achieved operating revenues of approximately 2.299 billion yuan, 2.242 billion yuan, and 2.616 billion yuan, respectively. Net profits for the corresponding periods were approximately 196 million yuan, -91.5071 million yuan, and 201 million yuan.
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