SANY(SH:600031) Sou Hu Cai Jing·2025-12-17 07:13Core Viewpoint - Suzhou Green Control Transmission Technology Co., Ltd. has received approval for its IPO on the ChiNext board, aiming to raise 1.58 billion yuan for the production of electric drive systems and R&D center construction [2] Group 1: Company Overview - Green Control Transmission was established in December 2011, focusing on electric drive system technology innovation and providing related products and services [2] - The company's main products are electric drive systems for new energy commercial vehicles, used in pure electric, hybrid, and fuel cell vehicles, as well as non-road mobile machinery [2] Group 2: Market Position - According to research data from Keri Consulting, Green Control Transmission has maintained the highest market share in the new energy heavy-duty truck motor supply market from 2022 to 2024 [2] Group 3: Financial Performance - The company's revenue for 2022, 2023, 2024, and the first half of 2025 is projected to be 712 million yuan, 770 million yuan, 1.328 billion yuan, and 1.219 billion yuan respectively [3] - Net profit attributable to shareholders for the same periods is expected to be -99.43 million yuan, -12.33 million yuan, 48.04 million yuan, and 68.30 million yuan respectively [3] - The comprehensive gross profit margins for these years are projected at 7.13%, 16.77%, 19.78%, and 19.38% respectively [3] Group 4: Financial Metrics - As of June 30, 2025, total assets are reported at 3.072 billion yuan, with a debt-to-asset ratio of 73.68% [4] - The company reported a net profit of 68.30 million yuan for the first half of 2025, with a basic and diluted earnings per share of 0.18 yuan [4] - R&D investment as a percentage of revenue has decreased from 7.77% in 2022 to 4.14% in the first half of 2025 [4] Group 5: Shareholding Structure - The controlling shareholder and actual controller of Green Control Transmission is Li Lei, who directly holds 32.23% of the company's shares and indirectly controls an additional 11.41% [4] - Other notable shareholders include Dongfeng Motor's Xinzhi Feng with 2.17% and Sany Heavy Industry with 1.89% [5]