Core Viewpoint - Gaote Electronics is positioned to become the "first stock of energy storage BMS" in A-shares with its upcoming IPO, focusing on energy storage battery management systems (BMS) and leading market share [1][2]. Fundraising and Investment - Gaote Electronics plans to raise 850 million RMB through the issuance of up to 12 million shares, with the net proceeds allocated to the construction of an intelligent manufacturing center for energy storage battery management systems and to supplement working capital [2]. - The total investment for the intelligent manufacturing center project is approximately 674.14 million RMB, with 600 million RMB sourced from the IPO funds [2]. Financial Performance - The company has shown a compound annual growth rate (CAGR) of 63.31% in revenue from 2022 to 2024, with main business revenues of 344.4 million RMB, 770 million RMB, and 919 million RMB for the respective years [3][5]. - The revenue from core technology products has increased significantly, accounting for 90.26% of total revenue in 2024, up from 77.73% in 2022 [5][7]. - Net profits for 2023 and 2024 are projected at 79.04 million RMB and 87.04 million RMB, respectively, meeting the listing standards for profitability [7]. Market Position and Competition - Gaote Electronics ranks as the top new energy storage BMS company in China as of 2023, with a significant market share in the third-party BMS sector [11][12]. - The company has established strategic partnerships for R&D, notably with Xi'an Aerospace Minxin, to develop proprietary AFE information collection chips, enhancing its competitive edge in the BMS market [12]. Customer Base - The customer portfolio includes major players such as CATL, Ganfeng Lithium, and State Grid, with no single customer accounting for over 50% of total revenue, indicating a diversified client base [13][15]. Growth Strategy - Gaote Electronics is transitioning towards a comprehensive data service provider in the energy storage sector, leveraging its BMS technology to offer integrated data services for energy management [16][18]. - The company aims to enhance its data service capabilities, which are expected to become a significant growth driver in the future [19].

根据CESA发布的《2024中国新型储能产业发展白皮书》，公司位列2023年中国新型储能BMS企业TOP10 名单第一位；根据中国电力企业联合会和国家电化学储能电站安全监测信息平台联合发布的《2024年度 电化学储能电站行业统计数据》，截至2024年末，已投运电站装机占比前五位的BMS厂商包括高特电 子、协能科技、海博思创、比亚迪、阳光电源。 公司募集资金扣除发行费用后，投资于以下项目： 招股书显示，高特电子主要面向新能源产业提供安全、可靠、高效、稳定且更具经济性的新型储能电池 管理系统相关产品，连续三年在大型储能领域BMS产品出货量保持行业前列，致力于成为全球领先的新 型储能系统安全与价值提升解决方案的核心供应商。 BMS是新型储能系统的"神经中枢"，用于对电池系统多维度数据采集、诊断、安全管理和主动维护，确 保新型储能电池系统安全、可靠、稳定、经济运行。 按照下游应用领域划分，公司主要产品为储能BMS模块及相关产品，并依托BMS数据采集与聚合的特 性，拓展了一体化集控单元及数据服务，同时涵盖后备电源BMS、动力电池BMS等产品。 智通财经APP获悉，6月23日，杭州高特电子设备股份有限公司(简称：高特电子 ...