Shang Hai Zheng Quan Bao·2025-10-27 20:50Core Viewpoint - The company, Delijia Transmission Technology (Jiangsu) Co., Ltd., is conducting its initial public offering (IPO) to enhance its market position and drive growth in the wind power transmission equipment sector, leveraging its strong R&D capabilities and established partnerships with leading firms in the industry [6][9][22]. Company Overview - Delijia was established in 2017 and specializes in the development, production, and service of wind power transmission equipment, covering the entire business chain from design to operation [6][12]. - The company has a comprehensive product range from 1.5MW to 22MW, with products designed for various harsh environmental conditions, achieving industry-leading performance in power density, transmission efficiency, and noise levels [6][12][30]. - As of 2024, Delijia holds a global market share of 10.36%, ranking third worldwide, and a 16.22% share in the Chinese market, ranking second [6][16]. R&D and Innovation - The company has a strong R&D foundation, with 63 authorized patents, including 24 invention patents, and has contributed to the drafting of several national and industry standards [7][13]. - Delijia's self-developed "10-12MW offshore large megawatt gearbox" was recognized as a significant technological equipment project by the National Energy Administration in 2021 [7][13]. Market Position and Partnerships - Delijia has established stable partnerships with major wind turbine manufacturers such as Goldwind, Envision Energy, and Mingyang Smart Energy, earning accolades like "Best Supplier" and "Strategic Partner" [7][15]. - The company’s products have received certifications from multiple authoritative institutions, enhancing its brand recognition in the industry [6][12]. Financial Performance - The company reported revenues of 3107.80 million yuan in 2022, 4441.82 million yuan in 2023, and projected 3715.34 million yuan in 2024, with net profits of 540.17 million yuan, 633.96 million yuan, and 533.79 million yuan respectively [20]. - The gross profit margin has remained stable, with rates of 23.10%, 23.66%, 25.29%, and 25.84% over the same period [18]. Industry Context - The wind power industry is experiencing rapid growth, driven by national policies supporting renewable energy and the "dual carbon" goals, with significant increases in wind turbine installation capacities projected for 2023 and 2024 [27][30]. - The global market for wind power gearboxes is expected to grow from approximately $58.27 billion in 2024 to $83.70 billion by 2030, indicating a robust demand for Delijia's products [30]. Future Strategy - The company aims to leverage its IPO to enhance R&D, expand market reach, and solidify its team, focusing on technological innovation and product updates to maintain competitive advantages [9][22]. - Delijia plans to invest in projects that will increase production capacity and align with the trend towards larger wind turbine capacities, particularly in offshore and international markets [36][37].