Group 1 - The core point of the article is that Nabichuan New Energy Co., Ltd. has successfully registered its IPO on the ChiNext board, focusing on thermal management products for new energy vehicles and fuel vehicles [1] - Nabichuan specializes in the research, production, and sales of products such as battery liquid cooling plates, battery integrated boxes, fuel vehicle engine radiators, and heaters [1] - The company aims to raise approximately 729 million yuan through this IPO, which will be used for the production project of 3.6 million sets of water cooling plates and to supplement working capital [1] Group 2 - The IPO process for Nabichuan began with acceptance on September 27, 2023, followed by an inquiry phase on October 23, 2023, and was approved on August 28, 2025, with registration submitted on September 2, 2025 [1]

纳百川距离上市更近一步。 天眼查App信息显示，纳百川成立于2007年10月。目前，该公司的注册资本为人民币8375.22万元，法定代表人为陈荣贤，主要股东包括陈荣贤、张传建、温 州纳百川商业管理有限公司等。 | | | 查公司 查老板 都在用的商业查询工具 | 查关系 查风险 | | | --- | --- | --- | --- | --- | | | | 纳百川新能源股份有限公司 国家中小企业发展子基金旗下机构 | | × 天眼- | | 基本信息 107 | | IPO申报 58 法律诉讼 1 | 经营风险 | 经营信息 | | 股东信息 2 ▲ 品股权结构 | | | | | | 最新公示14 | 工商登记14 | MIP MIP 历史股东信息2 股权变更历程11 2 | | 更新日期 2: | | 序号 | | 股东名称 | 股份类型 | 持股 | | 1 | 陈 | 陈荣贤 捻 15 受益所有人 实际控制人 大股东 | 流通A股 | רח | | 2 | 张传建 怒8 引K 大股东 | | 流通A股 | 1 | | + 3 | 纳百 大股东 | 温州纳百川商业管理有限公司 器 | 流通A股 | ...

Core Viewpoint - Nabaichuan New Energy Co., Ltd. has submitted its IPO registration for the ChiNext board, focusing on thermal management products for electric vehicle batteries and fuel vehicles [1] Company Overview - Nabaichuan specializes in the research, production, and sales of thermal management products related to new energy vehicle power batteries, fuel vehicle power systems, and energy storage batteries [1] - Key products include battery liquid cooling plates, battery integrated boxes, fuel vehicle engine radiators, and heaters [1] IPO Details - The IPO was accepted in September 2023 and entered the inquiry phase in October 2023, with the approval meeting scheduled for August 28, 2025 [1] - The company aims to raise approximately 729 million yuan, which will be used for the production project of 3.6 million sets of water cooling plates and to supplement working capital [1]

Core Viewpoint - Nanbaichuan New Energy Co., Ltd. has submitted its IPO application to the Shenzhen Stock Exchange's Growth Enterprise Market, aiming to raise 729 million yuan for its operations in the new energy vehicle sector [1] Group 1: Company Overview - Nanbaichuan focuses on the research, production, and sales of thermal management products for new energy vehicle power batteries, fuel vehicle power systems, and energy storage batteries [1] - The main products include battery liquid cooling plates, battery integrated boxes, fuel vehicle engine radiators, and heater warm air systems [1] - The company primarily supplies battery liquid cooling plates to domestic markets and has established long-term stable partnerships with major domestic power battery manufacturers and vehicle manufacturers such as NIO, Xpeng, and Li Auto [1] Group 2: Financial Performance - In the fiscal years 2022, 2023, 2024, and the first quarter of 2025, Nanbaichuan reported revenues of approximately 1.031 billion yuan, 1.136 billion yuan, 1.437 billion yuan, and 337 million yuan respectively [2] - The net profits for the same periods were approximately 113 million yuan, 98.25 million yuan, 95.43 million yuan, and 14.89 million yuan respectively [2] Group 3: Asset and Equity Information - As of March 31, 2025, the total assets amounted to approximately 1.981 billion yuan, with equity attributable to shareholders of the parent company at approximately 643 million yuan [3] - The asset-liability ratio for the parent company was 51.91% as of March 31, 2025, showing a slight improvement from 56.26% in 2022 [3] - The company’s basic earnings per share were 0.18 yuan for the first quarter of 2025, down from 1.35 yuan in 2022 [3]

Core Viewpoint - Nanbaichuan New Energy Co., Ltd. has successfully passed the IPO review on the ChiNext board, focusing on thermal management products for new energy vehicles and fuel vehicles [1] Company Overview - Nanbaichuan specializes in the research, production, and sales of thermal management products for new energy vehicle power batteries, fuel vehicle power systems, and energy storage batteries [1] - Key products include battery liquid cooling plates, battery integrated boxes, fuel vehicle engine radiators, and heaters [1] IPO Details - The company aims to raise approximately 729 million yuan, which will be used for the annual production project of 3.6 million sets of water cooling plates and to supplement working capital [1] - The IPO was accepted on September 27, 2023, and entered the inquiry stage on October 23, 2023 [1] Financial Projections - The listing committee requested Nanbaichuan to explain the prudence and reasonableness of its forecasted 14.05% year-on-year growth in net profit attributable to shareholders after deducting non-recurring gains and losses for 2025 [1]

Core Viewpoint - Nanbaichuan New Energy Co., Ltd. has been approved for IPO on the Shenzhen Stock Exchange, marking it as the 44th company to pass the review this year, indicating a positive trend in the IPO market [1] Company Overview - Nanbaichuan focuses on the research, production, and sales of thermal management products for new energy vehicle power batteries, fuel vehicle power systems, and energy storage batteries [1] - The main products include battery liquid cooling plates, battery integrated boxes, fuel vehicle engine radiators, and heaters [1] Shareholding Structure - Chen Rongxian is the controlling shareholder, holding 24.96% of the total shares directly, while his family members hold an additional 18.49% indirectly, resulting in a total control of 55.58% [2][3] - The family has signed a concerted action agreement to ensure unified decision-making [3] IPO Details - Nanbaichuan plans to publicly issue up to 27.9174 million shares, with the public offering accounting for no less than 25% of the total shares post-issue [3] - The company aims to raise 72.9 million yuan, allocated for a production project and working capital [2][4] Investment Projects - The total investment for the production project of 3.6 million sets of water cooling plates is approximately 57.94 million yuan, with the entire fundraising amount dedicated to this project and working capital [4] Financial Projections - The company forecasts a cautious and reasonable growth of 14.05% in net profit attributable to shareholders after deducting non-recurring gains and losses for 2025 [5]

Core Viewpoint - Nanbaichuan New Energy Co., Ltd. has successfully passed the IPO meeting on the Shenzhen Stock Exchange's ChiNext board, aiming to raise 729 million yuan for its business expansion and operational needs [1][2]. Company Overview - Nanbaichuan specializes in the research, production, and sales of thermal management products for new energy vehicle power batteries, fuel vehicle power systems, and energy storage batteries [1]. - The company has been a strategic supplier for CATL since 2012, providing products to major automotive brands such as Tesla, NIO, Xpeng, and Geely [1]. Production Capacity and Investment - The company operates three production bases in Wenzhou, Anhui Ma'anshan, and Anhui Chuzhou, covering over 200,000 square meters [2]. - The funds raised will be allocated to projects related to the main business and working capital, including a water-cooled plate production project with an investment of approximately 57.94 million yuan [2][3]. Financial Performance - In the fiscal years 2022 to 2025, the company reported revenues of approximately 1.031 billion yuan, 1.136 billion yuan, 1.437 billion yuan, and 337 million yuan respectively [3]. - Net profits for the same periods were approximately 113 million yuan, 98.25 million yuan, 95.43 million yuan, and 14.89 million yuan [3]. Key Financial Metrics - Total assets as of December 2022 were approximately 1.265 billion yuan, increasing to 1.981 billion yuan by March 2025 [4]. - The company's debt-to-asset ratio improved from 56.26% in 2022 to 51.91% in March 2025 [4]. - The basic earnings per share were 1.35 yuan in 2022, projected to decrease to 0.18 yuan by March 2025 [4].

Core Viewpoint - Nanbaichuan New Energy Co., Ltd. has successfully passed the IPO review on the Shenzhen Stock Exchange's ChiNext board, aiming to raise 729 million yuan for its business expansion in the new energy sector [1] Company Overview - Nanbaichuan specializes in the research, production, and sales of thermal management products for new energy vehicle power batteries, fuel vehicle power systems, and energy storage batteries [1] - The company has been a strategic supplier for CATL since 2012, providing products to major automotive brands including NIO, Xpeng, and Geely [1] Financial Highlights - The company reported revenues of approximately 1.031 billion yuan, 1.136 billion yuan, 1.437 billion yuan, and 337 million yuan for the years 2022, 2023, 2024, and the first quarter of 2025, respectively [3] - Net profits for the same periods were approximately 113 million yuan, 98.25 million yuan, 95.43 million yuan, and 14.89 million yuan [3] Investment Projects - The company plans to invest in a water-cooled plate production project with a total investment of approximately 57.94 million yuan, using 57.9 million yuan from the raised funds [3] - Additional funds will be allocated to supplement working capital, amounting to 15 million yuan [3] Production Capacity - Nanbaichuan operates three production bases in Wenzhou, Ma'anshan, and Chuzhou, covering over 200,000 square meters [2] - The Chuzhou production base is still under construction to enhance the supply capabilities for core customers [2] Financial Ratios - The company's total assets increased from 1.265 billion yuan in 2022 to 1.981 billion yuan in March 2025 [4] - The debt-to-asset ratio for the parent company was 51.91% as of March 2025, showing a slight improvement from 56.26% in 2022 [4] - The return on equity decreased from 30.40% in 2022 to 2.34% in the first quarter of 2025 [4]

Core Viewpoint - Nanbaichuan New Energy Co., Ltd. has received approval for its IPO application on the ChiNext board, indicating a positive outlook for the company in the renewable energy sector [2]. Group 1: Company Overview - The company specializes in the research, production, and sales of thermal management products for new energy vehicle power batteries, fuel vehicle power systems, and energy storage batteries [4]. - Major products include battery liquid cooling plates, battery integrated boxes, fuel vehicle engine radiators, and heating systems [4]. - The company was established in October 2007 and transitioned to a joint-stock company in February 2023, with a total share capital of 83.7522 million shares before the issuance [4]. Group 2: Shareholding Structure - The controlling shareholder is Chen Rongxian, with actual controllers including Chen Rongxian, Zhang Liqin, and Chen Chaopengyu, who are family members [5][6]. - Chen Rongxian directly holds 20.9045 million shares (24.96% of total shares), while Chen Chaopengyu holds 4.3344 million shares (5.18%) [6]. - The family collectively controls 55.58% of the company through direct and indirect holdings [6]. Group 3: Financial Performance - The company's revenue for the reporting period was 1.0309153 billion, 1.1362170 billion, 1.4370530 billion, and 337.1721 million [7]. - The net profit attributable to the parent company was 111.1228 million, 89.2578 million, 88.0438 million, and 13.9138 million [7]. - The total assets as of December 2023 were 1.5250955 billion, with a debt-to-asset ratio of 51.12% [8]. Group 4: Listing Standards - The company meets the listing criteria set by the Shenzhen Stock Exchange, which requires positive net profits for the last two years, a cumulative net profit of no less than 100 million, and a net profit of no less than 60 million in the most recent year [9]. Group 5: Inquiry from Listing Committee - The listing committee raised questions regarding the competitive landscape of the downstream new energy vehicle industry, price trends for battery liquid cooling plates, and the company's forecast for a 14.05% year-on-year growth in net profit for 2025 [10].

Core Viewpoint - Nanbaichuan New Energy Co., Ltd. is preparing for its IPO on the Shenzhen Stock Exchange, focusing on thermal management products for electric vehicles and energy storage systems, with a history of fluctuating profits and a significant reliance on a major customer, CATL [1][4]. Financial Performance - Revenue for Nanbaichuan from 2022 to 2024 is projected at approximately CNY 1.031 billion, CNY 1.136 billion, and CNY 1.437 billion, with corresponding net profits of about CNY 113 million, CNY 98.25 million, and CNY 95.43 million, showing a declining trend [2]. - In the first half of 2025, the company reported revenue of CNY 743 million, a year-on-year increase of 45.88%, and a net profit of CNY 31.28 million, up 39.14% [2]. - The company forecasts 2025 revenue of CNY 1.737 billion, a 20.86% increase, and a net profit of CNY 105 million, a 9.72% increase [2]. - The gross profit margin for the main business has decreased from 22% to 14.34% over the reporting period, indicating a compression of profit space and potential impacts on competitive pricing [2]. IPO and Fundraising - Nanbaichuan's IPO application was accepted on September 27, 2023, and has been in the review process for nearly two years [1]. - The company initially planned to raise CNY 829 million for various projects but has since reduced the fundraising target to CNY 729 million by canceling one of the expansion projects [3]. - The revised fundraising will focus on the production of water-cooled plates and working capital, reflecting a strategic adjustment to enhance operational efficiency [3]. Customer Dependency - CATL has been the largest customer for Nanbaichuan, with sales to CATL and its affiliates accounting for 53.73%, 48.94%, 48.21%, and 44.39% of revenue over the reporting period [4]. - The company asserts that its relationship with CATL is mutually beneficial and stable, indicating that this dependency will not adversely affect its future operational capabilities [4]. Ownership Structure - As of the signing of the prospectus, Chen Rongxian is the controlling shareholder, with the Chen family collectively holding 55.58% of the company's shares [4].