兆威机电赴港IPO前业绩突增，A股上市当年业绩下滑曾遭问询

Core Viewpoint - Shenzhen Zhaowei Electromechanical Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, aiming to expand its market presence as a leading provider of integrated micro-drive and drive system solutions, ranked first in China and fourth globally by revenue [4][5]. Company Overview - Zhaowei Electromechanical was established in April 2001 and went public on the Shenzhen Stock Exchange in December 2020 [4]. - The company has expanded its business into core motor components and micro-gear transmission systems, serving notable clients such as Bosch, Huawei, Tencent, Midea, and OPPO [5]. Financial Performance - In 2020, Zhaowei Electromechanical reported a revenue of 1.195 billion yuan, a year-on-year decline of 32.97%, and a net profit of 232 million yuan, down 33.40% [5][6]. - The company's net cash flow from operating activities was 147 million yuan, reflecting a significant decrease of 66.55% [5][6]. - Despite the poor financial performance, the company decided to distribute a cash dividend of 107 million yuan to shareholders [5]. Market Position and Ownership - Prior to its listing, Zhaowei Electromechanical did not introduce any external shareholders, with the founders controlling 88.29% of the company's shares [5]. - The founders, Li Haizhou and his wife Xie Yanling, were listed among the wealthy individuals in the region, with a combined wealth of 7.7 billion yuan according to the 2021 Hurun Report [6].