Shenghuabo's application for IPO on the Shanghai Stock Exchange main board has been accepted. The company's windshield wiper assembly sales have ranked first domestically for six consecutive years from 2020 to 2025.

On June 8th, Zhejiang Shenghuabo Electrical Appliances Co., Ltd. (referred to as Shenghuabo) submitted its application for an IPO on the main board of the Shanghai Stock Exchange. Guotai Junan Haitong is its sponsor institution, and it plans to raise 2.6 billion yuan. According to the prospectus, Shenghuabo is dedicated to becoming a global leading comprehensive provider of solutions in the field of intelligent electric motors for automobiles. It is mainly engaged in the research, development, production, and sales of automotive components such as windshield wiper assemblies, seat motors, and intelligent body motors. Through continuous independent innovation and industry accumulation, the company has established a comprehensive R&D and production system covering product design, mold development, material manufacturing, control algorithms, testing and validation, precision manufacturing, production line preparation, and intelligent assembly. It is deeply involved in the entire lifecycle of customer products from synchronous development, mass production to after-sales support, providing high-performance, low-power consumption, lightweight automotive intelligent motor solutions to many well-known industry customers. Relying on its independent intelligent motor technology platform, Shenghuabo has established a rich product system around windshield wiper assemblies, seat motors, and intelligent body motors. The company's main products are mainly used in the following areas of vehicles: The raw materials required for Shenghuabo's production mainly include steel, enameled wire, plastic particles, zinc-aluminum alloy, electronic components, magnetic materials, etc. During the reporting period, the company's main suppliers included Baoshan Steel, Send High-Tech, Zhejiang Grandwall Electric Science & Technology, Fu Keko, TiHan Electronics, Kyoto Longtai, Yingqiu Powder, etc. Shenghuabo's sales are mainly based on direct sales, with main customers consisting of well-known domestic and international vehicle manufacturers and Tier 1 component suppliers. The company has accumulated a group of high-quality customers and rich supporting experience. Main customers include GEELY AUTO, SAIC Motor Corporation, Great Wall Motor, CHERY AUTO, BYD Company Limited, First Automotive Works Group, Dongfeng Group, BAIC Group, Guangzhou Automobile Group, Chongqing Changan Automobile, Hyundai Motor, GAC Toyota, Yueda Kia, Stellantis, Renault, and other large domestic and foreign automotive manufacturers, as well as well-known commercial vehicle companies such as Foton Daimler, Sinotruk Jinan Trucking, Yutong Bus Co.,Ltd. XCMG Group, Sany Group, and other construction machinery companies, and through global leading automotive seat manufacturers such as Faurecia, Lear, Magna, Faurecia, and Adient for bulk matching with international first-class vehicle manufacturers such as General Motors, Ford, Volkswagen, Toyota, Volvo, Mercedes-Benz. At the same time, the company actively deploys in the field of new energy vehicles, and its products have been maturely applied to new energy players such as Xiaopeng, Leapmotor, NIO, Sokon, and Aiways. As a comprehensive provider of solutions in the field of intelligent electric motors for automobiles, the company has long been focusing on continuous optimization of technology and system innovation. Relying on its independently constructed platform-based technology system and vertically integrated supply chain, the company deeply participates in the iterative upgrading of core components such as windshield wiper assemblies and seat motors for downstream customers. After years of accumulation, the company has established and consolidated its leading market position in the aforementioned two core product areas. According to QYResearch statistics, the company's sales volume of windshield wiper assemblies ranked first in China for six consecutive years from 2020 to 2025, and the sales volume of seat motors ranked first globally for five consecutive years from 2021 to 2025. Both core products have stable market share and significant industry competitiveness. Financially, in the fiscal years 2023, 2024, and 2025, the company achieved operating revenues of approximately 4.131 billion yuan, 5.288 billion yuan, and 6.563 billion yuan respectively; during the same period, the net profits were approximately 629 million yuan, 866 million yuan, and 1.02 billion yuan respectively.