FORSTAR submits IPO registration to the Shanghai Stock Exchange with a total annual production capacity of approximately 7 million vehicles.

On June 10th, Tianjin FORSTAR Bicycle Industry Co., Ltd. (referred to as FORSTAR) applied to change the status of its IPO review on the Shanghai Stock Exchange main board to "submitted for registration". Zhongtai is its sponsoring institution, and it plans to raise 773 million yuan. The prospectus shows that FORSTAR is mainly engaged in the research and development, design, production, and sales of bicycles, electric-assisted bicycles, shared bicycles, and other products and key components. Its products are sold to nearly 100 countries and regions worldwide. As of the end of the reporting period, the company's total annual production capacity for complete bicycles is approximately 7 million units, mainly located in production bases in Tianjin, China, Changzhou, Jiangsu, Vietnam, and Cambodia. It is a leading bicycle manufacturing enterprise in China, mainly serving global renowned brand operators such as Specialized, Lectric, Pon, Decathlon, Samchuly, MFC, Scott, Cycleurope, Panasonic, as well as domestic shared bicycle operators like Hellobike, Qingju, Meituan, by providing complete bicycles and key component manufacturing services. At the same time, the company has also developed and created its own brands "BATTLE" and "Bond FORSTAR", which are sold in the domestic market. The "Bond FORSTAR" brand has received titles such as "China Famous Brand" and "China Famous Product". According to the China Bicycle Association certificate, from 2022 to 2024, the company's bicycle sales revenue ranks among the top three in the Chinese mainland bicycle industry. The company is a vice chairman unit of the China Bicycle Industry Association, and the chairman unit of the Tianjin Bicycle Electric Vehicle Industry Association. In 2024, it was rated as one of the "Top Ten Enterprises in China's Light Industry Bicycle Industry" and one of the "Top 200 Enterprises in China's Light Industry" by the China Light Industry Federation, and its products have won the "Tianjin Bicycle Electric Vehicle Industry Excellent Technology Research and Development Achievement Award". Currently, the company is one of the few enterprises in the industry certified by the CNAS National Laboratory, possessing comprehensive testing capabilities for bicycles and their key components. It has research and development advantages driven by industrial design and structural engineering, mastering core technologies such as high-precision intelligent pipe forming, green and environmentally friendly low VOC coating, efficient wheel dynamic balancing and precise calibration technologies. The net proceeds from this fundraising, after deducting issuance expenses, will be invested in the following projects based on their urgency and importance: Financially, in the financial years 2023, 2024, and 2025, the company's operating income is expected to be approximately 3.621 billion yuan, 4.88 billion yuan, and 5.061 billion yuan respectively; while the net profit is expected to be approximately 0.281 billion yuan, 0.418 billion yuan, and 0.391 billion yuan respectively.