Group 1 - The China Securities Regulatory Commission approved the initial public offering registration of Shanghai Yousheng Aluminum Industry Co., Ltd. on August 1, with plans to raise 2.471 billion yuan [1] - Yousheng is a professional manufacturer of aluminum alloy automotive components, focusing on lightweight automotive parts to enhance the range of new energy vehicles and improve fuel vehicle energy efficiency [4] - The company's products are primarily targeted at the new energy vehicle sector, with major clients including Tesla, GAC Group, NIO, BAIC New Energy, and Geely Group, establishing long-term stable partnerships [5] Group 2 - The main products of Yousheng include automotive structural components, categorized into threshold beam series, battery tray series, bumper series, and subframe series [5] - In the fuel vehicle business, the company collaborates with well-known first-tier automotive parts manufacturers such as Lingyun Industrial, Fu'ao Co., and Huayu Automotive [5]

Company Overview - Shanghai Yousheng Aluminum Industry Co., Ltd. (Yousheng Co.) is a professional manufacturer of aluminum alloy automotive components, focusing on lightweight automotive parts to enhance the range of electric vehicles and improve fuel efficiency in traditional vehicles [1][2] - The company primarily serves the new energy vehicle sector, with major products including structural components such as threshold beams, battery trays, bumpers, and subframes [1][2] Client Relationships - Yousheng Co. has established long-term stable partnerships with leading global new energy vehicle manufacturers, including Tesla, GAC Group, NIO, BAIC New Energy, and Geely Group [1][2] - In the traditional fuel vehicle sector, key clients include Lingyun Industrial, Fu'ao Co., and Huayu Automotive [1][2] Industry Context - The automotive industry is undergoing a rapid transition from traditional fuel vehicles to new energy vehicles, leading to the rise of domestic automotive parts suppliers [2] - According to the 2024 Global Automotive Parts Supplier Top 100 list by Automotive News, China has 15 companies on the list, with an average revenue of $6.944 billion, indicating significant growth in the scale and number of Chinese automotive parts manufacturers [2] Financial Performance - Yousheng Co. reported revenues of approximately 2.35 billion RMB, 2.905 billion RMB, and 3.95 billion RMB for the years 2022, 2023, and 2024, respectively [3] - The net profits for the same years were approximately 233 million RMB, 321 million RMB, and 405 million RMB [3] Key Financial Metrics - As of December 31, 2024, total assets amounted to approximately 4.135 billion RMB, up from 2.979 billion RMB in 2023 and 2.475 billion RMB in 2022 [4] - The equity attributable to shareholders was approximately 1.944 billion RMB in 2024, compared to 1.558 billion RMB in 2023 and 1.223 billion RMB in 2022 [5] - The company's debt-to-asset ratio increased from 41.30% in 2022 to 62.62% in 2024 [5] - The basic earnings per share were 2.80 RMB in 2024, up from 2.22 RMB in 2023 and 1.74 RMB in 2022 [5]