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].

文 | 中关村储能产业技术联盟 5月27日，芜湖市富鑫钢铁有限公司50MW/ 100MWh用户侧储能项目EPC总承包公开招标 招标公告发布。 招标范围： （2）储能设备和材料采购：包含但不限于储能柜、汇流柜、变流器、并网柜、电缆、施 工辅料、构件、配件、设备监造、电池预制舱（电池系统、电池管理系统、热管理系统、 消 防 系 统 ） 、 升 压 变 流 预 制 舱 （ 含 PCS 、 干 变 等 ） 、 储 能 控 制 及 能 量 管 理 系 统 （ 含 EMS、BMS、机柜、UPS等必要的设备）等的供货、安装、运输、装卸、保管、倒运、 备品备件、技术资料及工器具移交、检验、试验。 （3）用户侧储能系统工程设计图纸，设计图纸范围内的施工、设备安装、调试及各项政 府部门的申报审批等，包括但不限于储能项目备案、集电线路（如有）的全部工程勘察设 计及电网公司接入系统、所有工程的可研报告编制（如需）、初步设计编制及优化、施工 图设计及预算编制、施工图审核报审、竣工图编制，接入系统报告编制及接入系统批复手 续办理、加固方案优化。 （4）所有土建及建筑安装工程施工（含通信、施工用水、施工用电、场区道路、辅助工 程、设备材料 ...