Core Viewpoint - The company, United Power (301656.SZ), aims to become a global leader in intelligent electric vehicle components and solutions, with a focus on core power system components for new energy vehicles [1][2]. Group 1: Company Overview - United Power launched its subscription on September 15, with an issue price of 12.48 yuan per share and a price-to-earnings ratio of 32.87 times [1]. - The company is a leader in the new energy vehicle power system industry, playing a crucial role in promoting high-quality development of China's automotive manufacturing [1]. - United Power has participated in over 20 national standard formulations and key research projects, leading technological breakthroughs in the industry [1]. Group 2: Market Position and Clients - Major clients include Li Auto, GAC Group, Chery Automobile, Xiaomi Automobile, and Geely Group [2]. - The company holds significant market shares in the electric drive market, with over 70% for electric control and 65% for electric motors among domestic brands in 2024 [2]. - In the passenger vehicle sector, the company ranks first among third-party suppliers with a market share of approximately 10.7% for electric control products and 10.5% for electric motors in 2024 [2]. Group 3: Financial Performance - The company reported revenues of approximately 50.27 billion yuan, 93.65 billion yuan, and 161.78 billion yuan for the years 2022, 2023, and 2024, respectively [3][4]. - Net profits for the same years were approximately -1.80 billion yuan, 1.86 billion yuan, and 9.36 billion yuan [3][4].