Core Viewpoint - Shenzhen Yuanxin Energy Storage Technology Co., Ltd. has submitted its listing application, aiming to provide integrated energy storage system solutions and lifecycle services for global energy storage assets [1] Financial Performance - Revenue for the years 2023, 2024, and the first three quarters of 2025 is approximately RMB 4.35 billion, RMB 11.44 billion, and RMB 8.81 billion respectively, with profits of RMB 40.74 million, RMB 96.27 million, and RMB 70.89 million [2][1] - The gross profit for the same periods is RMB 93.83 million, RMB 203.91 million, and RMB 161.55 million, indicating a significant increase in revenue and profit over the years [2] Sales and Pricing Trends - The average selling price of integrated energy storage system solutions has decreased from RMB 1.26 per Wh in 2023 to RMB 0.44 per Wh in 2025, while sales volume has increased significantly [3][4] - The total sales volume of integrated energy storage system solutions is projected to rise from 46.42 MWh in 2023 to 1,345 MWh in 2025 [4] Customer Base - The company’s revenue is heavily reliant on a few major clients, with the top five clients contributing approximately 53.6%, 81.6%, and 80.8% of total revenue in the respective periods [5] - The largest client accounted for 11.8%, 40.7%, and 30.7% of total revenue during the same periods, indicating a concentration risk [5] Supplier Relationships - There is an overlap between customers and suppliers, with significant procurement from Supplier A, which accounted for approximately RMB 203 million, RMB 590 million, and RMB 341 million in purchases during the reporting periods [6] - Sales to Supplier A represented less than 4.3% of total revenue, suggesting that the relationship does not create a dependency risk [6]
IPO雷达｜远信储能业绩增长难掩隐忧：产品均价持续走低，80%收入依赖五大客户
Sou Hu Cai Jing·2026-01-10 09:09