AITEX'S IPO "has been inquired" by the Shanghai Stock Exchange, with a planned fundraising amount of 1.5 billion yuan.

On July 16th, Wuhu Aitack Automotive Electronics Co., Ltd. (referred to as Aitack) applied for a change in the listing review status on the main board of the Shanghai Stock Exchange to "inquiry received", with Huatai United Securities as its sponsor institution, aiming to raise 1.5 billion yuan. The prospectus shows that Aitack is a leading provider of automotive electronic intelligent solutions, mainly engaged in the research and development, production, and sales of automotive electronic products in the areas of vehicle body, intelligent cockpit, power domain, and intelligent driving domain, while also providing customers with automotive electronic EMS and technical development services. After years of development, the company has established a complete business system from product design, testing and verification to mass production and delivery, and has accumulated rich experience in the development and industrialization of automotive electronic products. For a long time, key technologies in the five major functional domains of whole vehicles have been mainly dominated by international large automotive electronic manufacturers such as Bosch, Denso, and Continental. With the continuous improvement of the overall technical strength of domestic automotive electronic companies, some high-quality domestic automotive electronic companies represented by the company have independent supporting capabilities in segmented areas, gradually breaking the monopoly of international large automotive electronic manufacturers in the core component field. According to statistics from the Gao Gong Intelligent Automotive Research Institute, Aitack's market share of body BCM (including regional controllers) for domestic passenger cars in China in 2024 is 25.50%, ranking first for three consecutive years; the market share of front-loading standard remote keys for domestic passenger cars in China is 13.83%, ranking first; and the market share of front-loading standard cockpit and display assembly for domestic passenger cars is 6.41%, ranking third. Aitack's products are compatible with well-known car manufacturers and mainstream models. Currently, the company has entered the supply system of Chinese independent brand car manufacturers such as Chery, Chongqing Changan Automobile, Great Wall Motor, SAIC Motor Corporation, GEELY AUTO, BAIC Group, Dongfeng Motor, as well as new car-making forces such as IDEAL AUTO, XPeng Motors, LEAPMOTOR, and has also supplied automotive electronic EMS to Bosch, which are ultimately used by well-known car manufacturers such as Volvo and Audi. After deducting the issuance expenses from the funds raised through this public offering of new shares, the funds will be invested in the following projects in order of urgency: During the reporting period, Aitack's operating income was 2.174 billion yuan, 3.008 billion yuan, and 3.468 billion yuan in the fiscal years 2022, 2023, and 2024 respectively; during the same period, the company achieved net profits of 94.144 million yuan, 197 million yuan, and 213 million yuan respectively.