与此同时，纳百川积极响应国家制造强国战略，以智能化、绿色化转型为方向，持续推进生产体系升 级。公司明确以模块化工厂、极限制造工厂和零碳工厂为三大核心建设理念，引入了一系列行业先进设 施，包括微米级全自动喷涂系统、高效全自动钎焊线、全自动氦分子检漏设备、全自动绝缘涂层系统， 以及AGV无人仓储物流系统等，通过全流程智能化设备的应用，成功实现了从原材料投入到成品产出 的全程自动化、"不落地"连续生产，既提升了生产效率与产品质量稳定性，也为绿色低碳生产提供了有 力保障。 值得注意的是，纳百川并未局限于新能源汽车单一领域，而是积极拓展业务边界，在储能热管理系统市 场取得了重要突破。目前，公司已成功进入宁德时代（300750）、中创新航、阳光电源（300274）等储 能及新能源领域头部企业的供应商体系。 据悉，纳百川长期专注于新能源汽车动力电池热管理系统领域。历经十余年发展，公司已构建覆盖蔚 来、小鹏、理想、零跑、吉利、长安、长城、上汽集团（600104）、广汽集团、北汽集团、一汽集团、 东风集团、奇瑞、鸿蒙智行、奔驰、丰田、现代等主流主机厂的客户体系，完成超200款车型适配、300 余项开发项目，产品广泛应用于乘用车 ...

Core Viewpoint - Nabichuan New Energy Co., Ltd. is preparing for an IPO, showcasing its strong position in the domestic battery thermal management sector for electric vehicles, driven by technological accumulation, industry layout, and stable customer relationships [1][8]. Financial Performance - Nabichuan has demonstrated robust growth since entering the battery thermal management field in 2011, with a compound annual growth rate (CAGR) of 18.17% in main business revenue, projected to rise from 1,008.13 million yuan in 2022 to 1,407.81 million yuan in 2024 [2]. - The company reported a significant increase in net profit for Q1 2025, reaching 13.91 million yuan, a year-on-year growth of 77.85%, indicating a recovery in profitability [2]. - For 2025, Nabichuan forecasts a revenue of 1,736.76 million yuan, a 20.86% increase, and a net profit of 104.70 million yuan, reflecting management's confidence in future performance [3]. Industry Trends - The Chinese automotive industry is shifting focus from growth speed to quality, with electric vehicles becoming a core driver of this transformation. By 2025, electric vehicles are expected to account for approximately 20% of total vehicle sales in China [4]. - The market for liquid cooling plates in the battery sector reached approximately 4.7 billion yuan in 2022, with expectations to grow to 9.6 billion yuan by 2025, reflecting a CAGR of over 95% [4]. Technological Advancements - Nabichuan emphasizes continuous innovation, with R&D expenses increasing from 34.07 million yuan in 2022 to 54.11 million yuan in 2024, and has secured 203 patents, including 20 invention patents [5]. - The company has made significant breakthroughs in addressing uneven heating in battery modules, achieving a temperature deviation of less than or equal to 3°C, and improving defect detection rates to 100% [5][6]. Customer Relationships - Nabichuan has established a strong presence in the supply chains of major battery manufacturers and automakers, including CATL and Volkswagen, and has received recognition as an "Excellent Supplier" from key clients [7]. - The company’s established relationships with leading customers and its first-mover advantage position it well for future growth in the battery thermal management market [7]. Future Outlook - With a solid performance foundation and clear strategic planning, Nabichuan is poised to become a leading player in the global battery thermal management sector, capitalizing on industry growth opportunities [8].