The application of Jiangsu Yijie Automotive Technology Co., Ltd. (referred to as Yijie) for a listing on the Shenzhen Stock Exchange's Growth Enterprise Market (GEM) has seen its review status updated to 'Inquiry.'
Great Wall Securities is acting as the sponsor for the offering, which aims to raise approximately 1.00034 billion yuan.
According to its prospectus, Yijie's principal operations involve the research and development, manufacturing, and sales of turbochargers, serving both the global original equipment (OE) and aftermarket segments. Its core business has remained consistent during the reporting period, with operating revenue demonstrating a rapid growth trend.
The company has established a sales network spanning over 100 countries and regions across six continents, and its 'JRONE' brand enjoys significant market recognition.
Yijie maintains close collaborations with renowned global automotive parts brands such as Germany's Mahle, Denmark's Nissens, Italy's Magneti Marelli, and the US's Rotomaster, supplying channels in the worldwide automotive aftermarket.
In 2025, the company's unit sales accounted for approximately 14% of China's total turbocharger exports, ranking first among Chinese brands in terms of export volume.
Simultaneously, Yijie is capitalizing on the rapid development of the new energy hybrid vehicle market. Leveraging its quick-response mechanisms, it is actively expanding its OE market business and has secured designated supplier status or achieved mass production for certain vehicle models from companies including FAW Hongqi, Byd Company Limited (BYD), Qixin Power, Zhengzhou Nissan, and Dong'an Power.
Furthermore, the company is actively exploring applications of turbocharging technology in areas such as low-altitude and sports power systems, hydrogen energy, and data centers.
In the low-altitude and sports power sector, it has achieved designated supplier or mass production status for models from CFMOTO and Qianjiang.
In the hydrogen energy field, the company has developed a full series of fuel cell air compressor platforms suitable for commercial vehicles, passenger cars, and non-road vehicles, with projects achieving mass production at companies like Sinohytec and Yuntao Hydrogen Energy.
Yijie primarily employs a customer and market demand-driven R&D mechanism to rapidly develop new products aligned with market and industry trends.
The company relies mainly on independent research and development, supplemented by collaborative R&D efforts.
On one hand, it has built a multidisciplinary R&D team covering aerodynamics, rotor dynamics, simulation, high-speed motors, and electronic controls, and has established R&D management systems to encourage technological innovation among its R&D personnel.
On the other hand, it actively utilizes external R&D resources by collaborating with universities and research institutes.
The company has developed products including turbochargers, electric superchargers, and turbo generators, and is dedicated to applying turbocharging technology in hybrid vehicles, low-altitude and sports power systems, hydrogen energy, and data centers.
Regarding industry competition, the OE market for turbochargers is highly concentrated. Major global foreign brands currently include Garrett, Cummins (CMI), BorgWarner (BWA), Mitsubishi Heavy Industries (MHI), IHI, and BMTS, among others.
In recent years, Chinese brands have been actively expanding into the turbocharger OE market. According to data from the Turbocharger Branch of the China Internal Combustion Engine Industry Association, Chinese brands accounted for 47% of turbocharger production in the domestic market in 2025.
Passenger vehicle turbochargers present higher technical challenges. The few Chinese brands capable of mass-producing them include Fengwo Share, Weifu High-Technology Group Co.,Ltd. (Weifu High-Tech), Xiling Power, and Yijie.
Financially, for the years 2023, 2024, and 2025, the company achieved operating revenues of approximately 631 million yuan, 789 million yuan, and 982 million yuan, respectively.
During the same periods, net profits were approximately 109 million yuan, 130 million yuan, and 165 million yuan, respectively.
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