A-share subscription | Gotee Electronics (301669.SZ) opens subscription for products covering backup power BMS for applications in data centers and other fields.

On May 29, Gaotian Electronics (301669.SZ) started its subscription, with an issue price of 7.08 yuan per share, a subscription limit of 16,500 shares, a P/E ratio of 29.97 times, and listed on the Shenzhen Stock Exchange. CITIC SEC is its sponsor. According to the prospectus, Gaotian Electronics is a nationally recognized high-tech enterprise with a focus on technical innovation, specializing in new energy battery management systems for the new energy industry that are safe, reliable, efficient, stable, and cost-effective. For three consecutive years, the company has maintained a leading position in the industry in terms of BMS product shipments in the large-scale energy storage sector, aiming to become a core supplier of global leading solutions for the safety and value enhancement of new energy storage systems. BMS is considered the "central nervous system" of new energy storage systems, responsible for the multidimensional data collection, diagnosis, safety management, and proactive maintenance of battery systems to ensure safe, reliable, stable, and economically efficient operation of new energy storage battery systems. During the reporting period, the company's energy storage BMS-related products have been widely used in large-scale high-voltage energy storage power stations on the power/grid side, as well as in commercial and residential energy storage areas. The company's products also cover backup power BMS used for data centers, communication base stations, and rail transportation, power battery BMS used in new energy vehicles, electric ships, and electricity testing. Furthermore, the company has adapted to the trend of national electricity market reform by developing integrated control units and data services that combine data collection and aggregation capabilities of BMS in energy storage systems. These services monitor equipment, diagnose faults, manage energy, and integrate data from microgrid loads, energy storage, photovoltaic, and charging piles. This aims to build a new electric power system for the country, achieve green and secure energy structure transformation, foster new productive forces in the new energy industry, and support the strategic goal of achieving carbon peak and neutrality. Based on downstream application areas, the company's main products are energy storage BMS modules and related products. Leveraging the data collection and aggregation capabilities of BMS, the company has expanded into integrated control units and data services, including backup power BMS and power battery BMS products. The company has maintained a leading position in market share in the field of large-scale energy storage BMS products, with high market visibility and brand recognition. According to the "2024 China New Energy Storage Industry Development White Paper" released by CESA, the company ranks first in the TOP10 list of Chinese new energy storage BMS companies for 2023. According to statistics from the China Power Enterprises Association and the National Electrochemical Energy Storage Power Station Safety Monitoring Information Platform, as of the end of 2024 and the end of June 2025, the top five BMS manufacturers in installed capacity share in operating power stations includes Gaotian Electronics, Xie Energy Technology, Beijing HyperStrong Technology, BYD Company Limited, and Sungrow Power Supply. By the end of the reporting period, the company had obtained 55 valid invention patents domestically, 9 foreign patents, 48 valid utility model patents domestically, 66 software copyrights, and 1 proprietary circuit design right. The company has been deeply involved in the construction of industry standards in the energy storage sector, leading or participating in a total of 31 national/industry group/local standards, including leading or participating in the drafting of 5 national standards and 6 industry standards related to BMS. The company has established a comprehensive quality management system and obtained multiple quality management system certifications such as ISO9001 and IATF16949. In terms of product certifications, the company's energy storage BMS products have obtained GB/T34131 national standards and CQC certification, as well as RoHS, REACH, IEC/EN, UL, CSA safety certifications, and functional safety assessments to meet the requirements of the mainstream markets in North America and Europe. Financially, in 2022, 2023, 2024, and January to June 2025, the company achieved operating revenues of approximately 346 million yuan, 779 million yuan, 919 million yuan, and 507 million yuan respectively. During the same period, net profits were 53.75 million yuan, 88.22 million yuan, 98.42 million yuan, and 51.41 million yuan respectively.