Core Viewpoint - Shenzhen Haoying Technology Co., Ltd. has entered the inquiry stage for its IPO on the Sci-Tech Innovation Board, focusing on the development and production of drone power systems and electric vertical takeoff and landing (eVTOL) power systems [1] Company Overview - Haoying Technology is primarily engaged in the research, production, and sales of drone power systems [1] - The company is significantly investing in the eVTOL power system sector [1] IPO Details - The IPO application was accepted on October 23, 2025 [1] - Haoying Technology aims to raise approximately 1.96 billion yuan, with the net proceeds after issuance costs to be fully invested in the high-end power system intelligent industrial park project (Phase I), the upgrade of the Haoying R&D center, and to supplement working capital [1]

01 当无人机在低空经济风口翱翔时，其"心脏"——动力系统的国内龙头企业的IPO迎来新的节点。10月23日，上交所网站显示，深圳市好盈科技股份有限公司 （简称"好盈科技"）科创板IPO获受理。 图：好盈科技官方网站 眼下在全球无人机产业链的激烈竞争中，动力系统作为无人机的"心脏"，正成为各方势力争夺的焦点。好盈科技以4.12%的全球市场占有率在第三方供应商 中跻身第一梯队，这个数字背后隐藏着怎样的行业真相？在技术迭代加速的战场上，好盈科技应作何应对来守住阵地，成为资本市场的"空中引擎"？ 《通用航空装备创新应用实施方案（2024-2030年）》《"十四五"通用航空发展专项规划》等政策明确提出支持无人机全产业链发展，无人机应用场景不断 拓宽。然而，这片蓝海市场早已不是无人区。市场集中度低、参与企业众多的竞争格局，意味着行业尚未形成稳定的竞争秩序，价格战、技术战、专利战此 起彼伏。当前无人机动力系统行业的竞争格局呈现出两大阵营态势： 第一阵营：整机厂商自研派 好盈科技不仅要同时面临来自两方阵营的市场竞争，自身更要面临技术护城河与客户粘性的双重博弈。公司拥有306项专利，其中86项为发明专利，但专利 的质量和覆盖面 ...

智通财经记者 | 郭净净 无人机动力系统制造商深圳市好盈科技股份有限公司（简称"好盈科技"）递交的科创板上市申请材料已 获上交所受理。 智通财经注意到，好盈科技为代表的第三方供应商正在"以价换量"，招股书显示，好盈科技旗下无人机 电机产品的销售单价自2023年以来大降超50%，无人机一体化动力系统、无人机电控、螺旋桨等其他三 款产品的售价于2025年上半年下调10%左右。 某无人机企业技术负责人对智通财经记者表示，好盈科技、三瑞智能是国内无人机动力系统领域的两大 头部第三方供应商，随着行业技术逐步成熟，规模化成本降低，产品价格持续下降以不断拓展市场。 无人机动力产品全球市占率4.12% 好盈科技成立于2005年，以航空模型电控业务为切入点，拓展至竞技车（船）模动力系统，后开始开拓 无人机动力系统业务。 2012年12月，好盈科技发布首款广泛应用于多旋翼。2015年，公司推出无人机一体化动力系统架构，到 2024年实现无人机动力系统全国产化，并进一步布局无人机电机单品市场。目前，公司已启动面向适航 的大型eVTOL动力系统的研发，并实现中小型无人eVTOL动力系统量产和销售。 无人机动力系统业务已经是好盈科技最 ...

Core Viewpoint - Haoying Technology, a leading manufacturer of drone power systems, has initiated its IPO process on the Sci-Tech Innovation Board, aiming to raise 1.96 billion yuan [1][4]. Group 1: Company Overview - Haoying Technology specializes in the research, production, and sales of drone power systems, including integrated power systems, electronic controls, motors, and propellers [4]. - The company is also expanding into electric vertical takeoff and landing (eVTOL) power systems, focusing on self-research and development to achieve domestic production and technological autonomy [4][6]. - The sales model primarily relies on direct sales, supplemented by distribution and trade, with major clients including FALCON, Sanrui Intelligent, and Jimu Robotics [4]. Group 2: Market Position - Haoying Technology holds a leading position in the drone power industry, with a global market share of 4.12% for its drone power products projected for 2024 [5]. - In the competitive arena of racing car (boat) models, the company is the market leader, with a global market share of 23.09% for its power systems in this sector, ranking first worldwide [5]. Group 3: Financial Performance - The company reported revenues of 546 million yuan, 738 million yuan, and 580 million yuan for the years 2023, 2024, and the first half of 2025, respectively, with net profits of 94 million yuan, 152 million yuan, and 139 million yuan during the same periods [6]. - The funds raised from the IPO will be allocated to three projects: the high-end power system smart industrial park (Phase I), the upgrade of the Haoying R&D center, and to supplement working capital [6].