Core Viewpoint - Gude Electric Materials has initiated its IPO on the ChiNext board, focusing on the development and production of thermal runaway protection components for electric vehicle batteries and high-performance insulation products [3] Company Overview - Gude Electric Materials was established in 2008 and specializes in thermal runaway protection solutions for electric vehicle batteries and electrical insulation products [3] - The company has become a first-tier supplier for several global automotive manufacturers and battery producers, including General Motors, Ford, Stellantis, BMW, and CATL [3] IPO Details - The company aims to raise 1.176 billion yuan through its IPO, with 619 million yuan allocated for the production of 725,000 sets of thermal runaway protection components and R&D projects [4] - Additional funds include 257 million yuan for the construction of a production base for thermal runaway protection materials and 300 million yuan for working capital [4] Financial Performance - From 2022 to 2024, the company's revenue is projected to grow from 475 million yuan to 908 million yuan, with net profit increasing from 64 million yuan to 172 million yuan [5] - For Q1 2025, the company reported a revenue of 240 million yuan, a year-on-year increase of 35.46%, and a net profit of 48 million yuan, up 57.21% year-on-year [6] Sales and Market Presence - The company's foreign sales revenue has shown significant growth, with proportions of 15.50%, 28.82%, and 44.29% of total revenue over the past three years [6] - The company primarily conducts foreign sales in US dollars, indicating a strong international market presence [6]