A-share subscription | Liqhi Intelligent (301599.SZ) opens subscription. Customers cover top lithium battery manufacturers and well-known vehicle manufacturers worldwide.

On April 20th, Liqhi Intelligent (301599.SZ) started its IPO, with an issue price of 13.91 yuan per share and a subscription limit of 11,000 shares, with a P/E ratio of 22.7 times. It belongs to the Shenzhen Stock Exchange, with Guotai Haitong as its sponsor. According to the prospectus, Liqhi Intelligent focuses on material automatic dispensing, dispersing emulsification, mixing and stirring, and other areas of material automation processing, providing professional material intelligent processing system solutions. During the reporting period, the company's sales revenue in the lithium battery manufacturing industry accounted for 95.98%, 91.81%, 93.82%, and 90.24% of total operating revenue, with lithium battery material intelligent processing systems being the company's main source of revenue. According to McKinsey & Company's data, the global industrial automation market size was $926 billion in 2019 and is expected to reach $1,147 billion by 2025. The market size of intelligent manufacturing equipment is expected to grow from $903 billion to $1,083 billion, with a compound annual growth rate of 3.08%. Liqhi Intelligent's customers include leading global lithium battery manufacturers and well-known vehicle manufacturers such as Contemporary Amperex Technology, BYD Company Limited, LG New Energy, Sunwoda Electronic, Eve Energy Co., Ltd., Farasis Group, Volkswagen Group, and Ford Motor Company, as well as domestic and foreign fine chemical giants such as Hempel, DuPont, Henkel, Lord, Elkem, and Norchem. Liqhi Intelligent also serves large composite material companies like Changzhou Fusion New Material and Yageo Corporation, as well as research institutes such as Sinopec Shanghai Research Institute and the Beijing Aerospace Vehicle Systems Department. With the continuous globalization of the Chinese lithium battery industry chain, domestic leading lithium battery manufacturers such as Contemporary Amperex Technology, Farasis Group, and Gotion High-tech are actively promoting the progress of overseas factory construction. Leading overseas lithium battery manufacturers such as LG New Energy and Samsung SDI actively seek customer resources and plan for expansion, as their installed power battery capacity and energy storage battery shipments lag behind Chinese manufacturers. EVTank estimates that the overseas lithium battery equipment market size will reach 126.65 billion yuan by 2030, with a compound annual growth rate of 14.3% from 2023 to 2030. In recent years, Liqhi Intelligent has actively expanded into overseas markets, establishing business operations points in Hungary, Germany, the United States, Singapore, and other places. As of the date of this prospectus, the company has become a supplier for domestic companies' overseas bases such as Contemporary Amperex Technology and Farasis Group, as well as overseas lithium battery companies such as PowerCo (a subsidiary of Volkswagen Group), ZellCo (a subsidiary of Volkswagen Group), and BlueOval (a subsidiary of Ford Motor Company. During the reporting period, Liqhi Intelligent has accumulated over 2 billion yuan in overseas orders in the field of complete sets of equipment for lithium battery material intelligent processing, achieving significant results in exploring overseas markets. In terms of finances, in 2022, 2023, and 2024, the company achieved operating revenues of approximately 619 million yuan, 1.721 billion yuan, and 2.173 billion yuan respectively, with net profits of approximately 95.3497 million yuan, 242 million yuan, and 299 million yuan respectively during the same period.