New stock news | Wolong Electric Group (600580.SH) submits an application to the Hong Kong Stock Exchange, ranking first in the global explosion-proof electric drive system solution market.

According to the disclosure on August 13th by the Hong Kong Stock Exchange, Wolong Electric Group Co., Ltd. (referred to as Wolong Electric Group (600580.SH)) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with CICC, Huatai International, and GF SEC (Hong Kong) as joint sponsors. The prospectus shows that Wolong Electric Group is a globally leading provider of electric drive system solutions, focusing on the research and development, production, sales, and services of electric drive system products and solutions. The company continuously provides solutions in five core areas, including explosion-proof electric drive system solutions, industrial electric drive system solutions, HVAC electric drive system solutions, new energy transportation electric drive system solutions, and Siasun Robot & Automation components and system applications. Having been deeply involved in the electric drive system field for over 40 years, the company uses technology innovation and digitization as driving forces to establish core capabilities in motors and drives, providing industry-leading solutions. Additionally, the company actively invests in future industries, accelerating the layout of electric aviation and embodied intelligence to break through the next trillion-dollar market. With globalized research and development, production, and brand reaching over 100 countries and regions, the company is committed to providing the best products and solutions to global users. According to Frost & Sullivan data, based on revenue forecasts for 2024, Wolong Electric Group ranks first in the global explosion-proof electric drive system solutions market, with a market share of approximately 4.5%; fourth in the global industrial electric drive system solutions market, with a market share of approximately 2.8%; and fifth in the global HVAC electric drive system solutions market, with a market share of approximately 2.0%. The revenue breakdown by segment is as follows: Financially, for the fiscal years 2022, 2023, 2024, and for the six months ending June 30, 2024 and 2025, Wolong Electric Group achieved revenues of approximately RMB 14.266 billion, RMB 15.567 billion, RMB 16.247 billion, RMB 7.978 billion, and RMB 8.031 billion respectively; with profits for the years/periods being RMB 839 million, RMB 553 million, RMB 832 million, RMB 409 million, and RMB 548 million respectively.