Fuqiang Technology's IPO on the Shenzhen Stock Exchange has been terminated. The company is mainly engaged in research, production, and sales of automotive interior and exterior components.

On July 4th, the initial public offering (IPO) of Guangdong Fuqiang Technology Co., Ltd. (referred to as Fuqiang Technology) on the Shenzhen Stock Exchange main board was terminated. This was due to Fuqiang Technology and the sponsor withdrawing their application for listing, and in accordance with the "Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (2024 Revision)" Article 62, the Shenzhen Stock Exchange decided to terminate the review of its IPO. The prospectus shows that Fuqiang Technology is a national-level high-tech enterprise mainly engaged in the research and development, production, and sales of automotive interior and exterior parts. Its main products include automotive door interior assemblies, mudguard assemblies, bumper products, wiper cover assemblies, engine compartment protection panels, as well as precision injection molding molds. Specifically, Fuqiang Technology relies on its strong mold design, development, and manufacturing capabilities to simultaneously design and develop comfortable, environmentally friendly, aesthetically pleasing, safe, and lightweight automotive interior and exterior parts for downstream car manufacturers and first-tier automotive parts suppliers. After years of development, the company has become a provider of overall solutions for automotive interior decoration products, integrating product design, mold development, component forming, surface coating, interior and exterior parts covering, and product automated assembly. After years of accumulation, Fuqiang Technology has established stable cooperative relationships with many mainstream car manufacturers and automotive parts suppliers in China. The company's customer base not only includes mainstream car manufacturers such as GAC Motor, GAC Honda, GAC Toyota, but also well-known new energy car manufacturers such as GAC Aion, Xpeng Motors, Hon Hai Group, LEAPMOTOR, a leading international new energy car manufacturer, as well as well-known automotive interior and exterior decoration companies like Promos, Hexie, GAX, Linjun. In terms of industry competitive landscape, compared with components with high integration degree such as engines, transmissions, and lighting systems, automotive interior and exterior parts have a wide variety and great differentiation, which makes the overall competitive landscape relatively dispersed, and companies with complete categories have a competitive advantage. Fuqiang Technology's main products include door interior assemblies, mudguard assemblies, bumper products, wiper cover assemblies, and engine compartment protection panels. The market share of these main assemblies products can reach an average of 2%-4%. With strong research and development capabilities, stable quality products, and high-quality services, Fuqiang Technology has been widely recognized by customers and has won numerous customer awards, such as the "Excellent Quality Award" from GAC Honda, the "Quality Excellence Award" and "Excellent Cooperation Award" from GAC Aion, and the "Excellent Supplier" from GAC Motor. In terms of financials, in 2020, 2021, 2022, and the first half of 2023, Fuqiang Technology achieved revenues of approximately RMB 493 million, RMB 677 million, RMB 1.038 billion, RMB 639 million, respectively, and net profits of approximately RMB 70.8129 million, RMB 108 million, RMB 129 million, RMB 78.305 million, respectively.