CSRC approves Weitongli's IPO registration on the Shenzhen Stock Exchange

On January 30th, the China Securities Regulatory Commission issued the "Approval for the Initial Public Offering of Beijing Weitongli Electric Co., Ltd." It is reported that Weitongli plans to list on the main board of the Shenzhen Stock Exchange, with Zhongtai as its sponsoring institution, intending to raise 1.59374 billion yuan. The prospectus shows that Weitongli's main business is the research and development, production, and sales of series of electrical connection products such as hard connections, flexible connections, contact components, laminated busbars, CCS, and synchronous decomposers, as well as other products. The company is committed to providing high-performance electrical connection products and customized product solutions tailored to the individual needs of customers in various sectors worldwide, making electrical connections safer, more reliable, greener, and smarter. Weitongli focuses on serving high-end customers in the electrical connection product market, with its products widely recognized by mainstream customers in various application fields. In the electric power and electrical engineering field, the company supplies products to Siemens, Schneider, ABB, Hitachi Energy, GE, etc.; in the new energy vehicle field, products are supplied to BYD Company Limited, StratiS, LEAPMOTOR, CALB, Sunwoda Electronic, Honeycomb Energy, Farasis Energy (Gan Zhou) Co., Ltd., etc.; in the wind and solar energy storage field, products are supplied to Goldwind Science & Technology, Ming Yang Smart Energy, Veidai Technology, Sungrow Power Supply, Solingen Electric, Point Energy, Delta Electronics, etc.; in the rail transportation field, products are supplied to CRRC Corporation, Westinghouse Brake, Alstom, etc. The above customers are all leading companies in their respective industries or are Fortune 500 companies.