Core Viewpoint - Delijia Transmission Technology (Jiangsu) Co., Ltd. is set to launch its initial public offering (IPO) on October 28, with a share price of 46.68 yuan and a total fundraising amount of approximately 1.867 billion yuan [1][3]. Group 1: IPO Details - The company plans to issue 40 million shares, raising a gross amount of about 1.867 billion yuan, with a net amount of approximately 1.772 billion yuan after deducting issuance costs of 92.9472 million yuan [3]. - The funds raised will be allocated to two main projects: 1.088 billion yuan for the annual production of 1,000 units of 8MW and above onshore wind turbine gearboxes, and 793 million yuan for the annual production of 800 units of large offshore wind turbine gearboxes in Shantou [3][4]. Group 2: Company Overview - Delijia specializes in the research, production, and sales of high-speed heavy-duty precision gear transmission products, primarily serving the wind power generation sector with its core product being the wind turbine main gearbox [4]. - The company was established in January 2017 and relocated to Wuxi, Jiangsu Province, in August 2018 [7]. Group 3: Financial Performance - The company's revenue for 2022, 2023, and 2024 was approximately 3.108 billion yuan, 4.442 billion yuan, and 3.715 billion yuan, respectively, with net profits of about 540 million yuan, 634 million yuan, and 534 million yuan [5]. - The revenue compound annual growth rate (CAGR) from 2021 to 2023 was 58.79%, although a decline in performance is noted for 2024, with revenue decreasing by approximately 16.36% [5][6]. - For the first half of 2025, the company reported revenue of about 2.487 billion yuan, an increase of 81.29% compared to 1.372 billion yuan in 2024, with net profit rising by 67.56% [7]. Group 4: Product Segmentation - Revenue from high-speed transmission products has been increasing, while revenue from medium-speed transmission products has been declining, contrary to global trends in wind power technology [7]. - In 2024, revenue from high-speed transmission products was approximately 2.362 billion yuan, accounting for 64.24% of total revenue, while medium-speed transmission products generated about 1.315 billion yuan, representing a decrease of 33.58% [7]. Group 5: Shareholder Structure - The company's major shareholders include Nanjing Chenrui Management Consulting Co., Ltd. (30.53%), SANY Energy Co., Ltd. (28%), and other investors [8]. - The actual controllers of the company are Liu Jianguo and Kong Jinfeng, who collectively hold 38.98% of the shares and control 41.98% of the equity [8].