Regulators Approve Gaote Electronics' IPO Registration for ChiNext Board

Stock News02-06

The China Securities Regulatory Commission has issued its approval for the initial public offering registration of Hangzhou Gaote Electronic Equipment Co., Ltd. Gaote Electronics plans to list on the ChiNext Board of the Shenzhen Stock Exchange, with CITIC Securities acting as its sponsor. The company aims to raise 850 million yuan through the offering.

According to its prospectus, Gaote Electronic provides safe, reliable, efficient, stable, and cost-effective battery management system products for the new energy storage sector within the new energy industry. For three consecutive years, the company's BMS product shipments have ranked among the top in the industry for large-scale energy storage applications. The company is committed to becoming a leading global provider of core solutions that enhance the safety and value of new energy storage systems.

The battery management system serves as the "nerve center" of new energy storage systems. It is responsible for multi-dimensional data collection, diagnostics, safety management, and proactive maintenance of battery systems, ensuring their safe, reliable, stable, and economical operation. During the reporting period, the company's energy storage BMS products have been widely used in large-scale high-voltage energy storage power stations on the generation side and grid side, as well as in commercial, industrial, and residential energy storage applications.

Additionally, the company's product portfolio includes backup power BMS for data centers, communication base stations, and rail transit, power battery BMS for new energy vehicles and electric vessels, as well as related power detection services.

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