CATL(SZ:300750) 智通财经网·2025-12-07 22:36Core Viewpoint - The company Nabichuan (301667.SZ) is initiating its IPO with a share price of 22.63 yuan, targeting a market with a price-to-earnings ratio of 28.7 times, focusing on thermal management products for electric vehicle batteries and fuel vehicles [1] Group 1: Company Overview - Nabichuan specializes in the research, production, and sales of thermal management products for new energy vehicle power batteries, fuel vehicle power systems, and energy storage batteries [1] - The company has been collaborating with CATL since 2012 and is a strategic supplier for various automotive brands including NIO, Xpeng, and Geely [1] Group 2: Financial Performance - The company reported revenues of approximately 1.031 billion yuan, 1.136 billion yuan, and 1.437 billion yuan for the years 2022, 2023, and 2024 respectively, with net profits of about 113 million yuan, 98.25 million yuan, and 95.43 million yuan for the same years [3] - For the first nine months of 2025, the company expects revenue growth of 22.26% to 35.18% compared to the same period in 2024, with net profit growth of 19.79% to 33.10% [3] Group 3: Financial Metrics - As of December 2022, total assets were 1.265 billion yuan, with equity attributable to shareholders at 431.07 million yuan [4] - The company’s debt-to-asset ratio was 56.26% in 2022, decreasing to 51.91% by March 2025 [4] - The basic earnings per share were 1.35 yuan in 2022, dropping to 0.18 yuan in the first quarter of 2025 [4]