2025年1-9月，公司实现营业收入27.13亿元，较上年同期增长29.30%；实现归属于母公司股东的净利润1.65亿元，较上年同期增长21.43%。主要原因系 随着我国汽车市场发展强劲，主要客户如长安汽车、吉利汽车、长安福特、蔚来汽车、理想汽车等终端市场销售表现良好，新车型陆续上线，需求旺 盛；加之公司新增客户拓展不断取得成效，陆续对零跑汽车等新客户实现量产供货，收入规模及盈利能力稳步增长。 瑞财经 王敏 11月28日，重庆至信实业股份有限公司（以下简称"至信股份"）沪主板IPO注册生效，保荐机构为申万宏源证券承销保荐，保荐代表人为梁 潇、黄学圣。 据悉，至信股份于2025年6月6日申报沪主板IPO并获受理，于11月6日通过上市委会议，是申万宏源2025年首单IPO上会项目；后于11月14日提交注册， 从提交注册到获批仅用了13天。 招股书显示，至信股份成立于1995年，主营汽车冲焊件以及相关模具的开发、加工、生产和销售。公司始终深耕汽车冲焊件领域，并且围绕着冲焊件开 发和生产环节，拓展了上游的模具开发、加工、生产以及自动化生产整体解决方案等领域。 业绩方面，2022年至2024年，至信股份营业收入分别为2 ...

Core Viewpoint - The company, Hebei Shichang Automotive Parts Co., Ltd. (Shichang Co.), is preparing for its IPO on May 30, aiming to raise approximately 171.18 million yuan for projects related to new energy high-pressure fuel tanks and to supplement working capital [2][4]. Group 1: Company Overview - Shichang Co. specializes in the research, production, and sales of automotive fuel systems, primarily manufacturing plastic fuel tank assemblies [2]. - The company sells its products mainly to major automotive manufacturers such as Geely, Chery, FAW, and Changan [2][4]. Group 2: Financial Information - The IPO proceeds will be allocated to the "Zhejiang Xingchang Automotive Technology Co., Ltd. annual production of 600,000 new energy high-pressure fuel tank project (Phase II)" and to supplement working capital [3]. - In 2024, Shichang Co. plans to distribute cash dividends of 12.68 million yuan to shareholders [2]. Group 3: Customer Concentration - The top five customers accounted for 93.22%, 92.48%, and 95.56% of total revenue for the years 2022, 2023, and 2024, respectively, indicating a high customer concentration [4][5]. - Geely is the largest customer, contributing 47.89%, 42.40%, and 50.45% of revenue in the respective years [4][5]. Group 4: Production Capacity and Utilization - The company currently has a total production capacity of 1.35 million units per year, with the new project expected to add 350,000 units annually upon full production [11][13]. - The production capacity utilization rates for 2023 and 2024 are projected to improve significantly due to strong sales of models from major clients [16]. Group 5: Market Risks and Challenges - The company faces risks related to high customer concentration, particularly if major clients reduce orders due to market changes [4][6]. - The company has acknowledged potential risks associated with its reliance on a few large customers and the impact of macroeconomic factors on its operations [16][17].