Core Viewpoint - Jiangsu Xihua New Energy Technology Co., Ltd. (Xihua Technology) is set to raise approximately 1.498 billion RMB through its IPO, focusing on the development, manufacturing, and sales of specialized components for large high-end equipment, primarily in the wind power gearbox sector [1] Financial Performance - In the fiscal years 2021, 2022, 2023, and the first half of 2024, Xihua Technology reported revenues of approximately 878 million RMB, 942 million RMB, 908 million RMB, and 425 million RMB respectively, with net profits of about 216 million RMB, 184 million RMB, 177 million RMB, and 62.07 million RMB [2] - The company's equity attributable to shareholders reached 1,091.68 million RMB in the first half of 2024, up from 1,025.67 million RMB in 2023, 836.02 million RMB in 2022, and 656.75 million RMB in 2021 [3] - The asset-liability ratio for the parent company improved to 54.01% in the first half of 2024 from 82.64% in 2021, indicating a strengthening financial position [3] Market Position and Strategy - Xihua Technology holds approximately 20% of the global market share in the casting segment of wind power gearbox components, positioning itself as a leading manufacturer in the industry [1] - The company is committed to upgrading manufacturing technologies for wind power gearbox components, aligning its R&D progress with market demands for products ranging from 1MW to 20MW [1] Customer Concentration - The company faces high customer concentration risk, with revenues from the top five customers accounting for over 97% of total revenue in recent years, and a significant dependency on a single client, NGC Group, which contributed approximately 34.83% to 59.53% of its main business revenue [2][3]
锡华科技上交所IPO通过上市委会议 为国内少数可提供风电齿轮箱专用部件全工序服务的企业
Zhi Tong Cai Jing·2025-09-05 11:37