Company Overview - Chongqing Zhixin Industrial Co., Ltd. (Zhixin Co.) has applied for the Shanghai Stock Exchange main board listing with a fundraising target of 1.329 billion RMB [1] - The company specializes in the development, processing, production, and sales of automotive welding parts and related molds, maintaining a consistent focus on this sector for over 30 years [1] - Zhixin Co. has established itself as a first-tier supplier for major automotive manufacturers such as Changan Automobile, Geely, and BYD, as well as for well-known parts suppliers like CATL and Webasto [1] Industry Context - The automotive parts industry in China is characterized by a fully competitive market with high regional concentration and a complete supply chain integration with vehicle manufacturing [2] - The market space for automotive parts is large, but the competitive landscape shows low concentration with many small-scale enterprises [2] - The company has become one of the largest private automotive parts manufacturers in Southwest China, with a mature business model and strong operational performance [2] Financial Performance - Zhixin Co. reported revenues of approximately 2.091 billion RMB, 2.564 billion RMB, and 3.088 billion RMB for the years 2022, 2023, and 2024, respectively [3] - The net profits for the same years were approximately 70.69 million RMB, 132 million RMB, and 204 million RMB [3] - As of December 31, 2024, the total assets of the company were approximately 3.789 billion RMB, with equity attributable to shareholders at about 1.576 billion RMB [4]