Core Viewpoint - Nanbaichuan New Energy Co., Ltd. has successfully passed the IPO review on the ChiNext board, focusing on thermal management systems for electric vehicle power batteries [3]. Group 1: Company Overview - Nanbaichuan specializes in the field of thermal management systems for electric vehicle power batteries, with its main product being the liquid cooling plate, a critical component of the battery system [3]. - The company has established strategic partnerships with industry leaders such as CATL and has supplied thermal management systems for major automotive manufacturers like SAIC Volkswagen [3]. - Over the past decade, Nanbaichuan has built a customer base that includes leading companies like NIO, Xpeng, Li Auto, and Leap Motor, positioning itself as a benchmark enterprise in the domestic battery liquid cooling plate sector [3]. Group 2: Financial Information - The company plans to raise 729 million yuan through its IPO, with 579 million yuan allocated for a production project in Chuzhou and 150 million yuan for working capital [3]. - Financial data shows that the operating revenues for 2022, 2023, 2024, and the first quarter of 2025 are 1.031 billion yuan, 1.136 billion yuan, 1.437 billion yuan, and 337 million yuan respectively [4]. - The net profit attributable to the parent company for the same periods is 113 million yuan, 98.25 million yuan, 95.43 million yuan, and 14.89 million yuan [4]. Group 3: IPO Process - The IPO application was accepted by the Shenzhen Stock Exchange in September 2023, followed by two rounds of inquiries from the exchange [3]. - The listing committee requested the company to explain the prudence and reasonableness of its forecasted 14.05% year-on-year growth in net profit attributable to the parent company for 2025, considering the competitive landscape of the new energy vehicle industry and price trends of liquid cooling plates [3].