Core Viewpoint - Rui Li Ke Mi (001285) is set to go public with an IPO on the Shenzhen Stock Exchange, aiming to raise funds for its automotive safety systems and related projects [1][4] Group 1: Company Overview - Rui Li Ke Mi specializes in the research, production, and sales of active safety systems for motor vehicles, including key components like ABS, ESC, EBS, EPB, and ECAS [1] - The company has established itself as a leading player in the commercial vehicle active safety system market in China, with its brand "Kormee" recognized as a top industry brand [2] Group 2: Market Position and Performance - From 2014 to 2023, Rui Li Ke Mi's ABS products have ranked first in both production and sales for ten consecutive years, with a leading market share from 2021 to 2023 [2] - The company reported revenues of 1.977 billion yuan in 2024, with projected revenues of 1.55 billion to 1.73 billion yuan for the first nine months of the year, reflecting a year-on-year growth of 13.82% to 27.04% [3] Group 3: Research and Development - Rui Li Ke Mi invests significantly in R&D, with expenditures of approximately 93.73 million yuan, 96.79 million yuan, and 115.83 million yuan from 2022 to 2024, respectively [2] - The company holds 459 authorized patents, including 58 invention patents, and has developed 22 core technologies closely related to its main business [2] Group 4: Future Prospects and Funding - The funds raised from the IPO will be allocated to projects such as the establishment of a smart automotive electronic control system headquarters in the Greater Bay Area, R&D center construction, and working capital supplementation [4]

Core Insights - The automotive industry is entering an era of electrification and intelligence, with active safety systems being a crucial component for achieving high-level autonomous driving and a competitive arena for global automotive manufacturers [1][3] - Ruijili Kemi (瑞立科密) is set to list on the Shenzhen Stock Exchange on September 30, 2023, and is one of the few domestic companies capable of developing various active safety systems, maintaining a leading market share in the industry [1][2] Company Overview - Ruijili Kemi's core products include pneumatic and hydraulic braking systems, as well as electronic and line control braking systems, widely used in commercial vehicles, passenger cars, and motorcycles [2] - The brand "Kormee" has become a top-tier brand in the industry, with ABS production and sales ranking first in the industry for ten consecutive years from 2014 to 2023 [2] - The company has maintained a market share of 24.00%, 23.72%, and 27.92% for ABS, ESC, and EBS products in the commercial vehicle sector over the past three years, respectively [2] Research and Development - Ruijili Kemi is one of the early companies to focus on the development of ECAS for commercial vehicles, having developed key components and an electronic control unit (ECU) for ECAS, along with proprietary control strategies and software [2] - The company has invested significantly in R&D, with expenditures of approximately 93.73 million, 96.79 million, and 115.83 million yuan from 2022 to 2024, respectively [3] Market Opportunities - The increasing market share of domestic brands in the automotive sector is driving demand for local suppliers, presenting a significant growth opportunity for Ruijili Kemi [3] - The expansion of the Advanced Driver Assistance Systems (ADAS) market is expected to further promote the development of active safety systems, with a transition from electronic to line control braking systems anticipated as automation levels increase [3] Fundraising and Strategic Goals - The funds raised from the stock issuance will be used for projects related to the company's main business, including the establishment of a R&D headquarters and center in the Greater Bay Area, enhancing production capacity and efficiency [4][5] - The information technology upgrades will improve the company's overall operational management and system security, contributing to its competitive edge in the active safety systems industry [4][5]

Group 1 - The company, Guangzhou Ruili Kemi Automotive Electronics Co., Ltd., plans to issue 45.044546 million shares in its initial public offering, with a strategic placement of 4.504454 million shares [1] - The total amount of funds to be raised, after deducting issuance costs, is intended for investment in the company's automotive intelligent electronic control system R&D headquarters, R&D center construction, information technology projects, and to supplement working capital, totaling 1.522 billion yuan [1] - The company is a national high-tech enterprise specializing in the R&D, production, and sales of core components related to active safety systems for motor vehicles [2] Group 2 - The company's main business includes the R&D, production, and sales of active safety systems and aluminum alloy precision die-casting parts, along with technical services [2] - It is one of the few domestic companies capable of developing active safety systems such as ABS, ESC, EBS, EPB, and ECAS, covering mainstream technical routes in pneumatic/hydraulic braking and electronic/line control braking [2] - The projected net profits attributable to the parent company for the years 2022 to 2024 are 96.9647 million yuan, 236 million yuan, and 269 million yuan, respectively [2]

Core Viewpoint - Ruikemi (001285.SZ) plans to issue 45.044546 million shares in its initial public offering, with a strategic placement of 4.504454 million shares, aiming to raise funds for various projects and working capital [1] Company Overview - The company specializes in the research, production, and sales of core components related to active safety systems for motor vehicles, recognized as a national high-tech enterprise [1] - Main business includes the development, production, and sales of active safety systems and aluminum precision die-casting parts, along with technical services [1] Product Capabilities - The company is one of the few in China with the capability to develop active safety systems such as Anti-lock Braking System (ABS), Electronic Stability Control (ESC), Electronic Brake Control System (EBS), Electronic Parking Brake (EPB), and Electronic Controlled Air Suspension (ECAS) [1] - Core products cover mainstream technical routes including pneumatic/hydraulic braking and electronic/line control braking, widely used in commercial vehicles, passenger cars, and motorcycles [1] Financial Performance - The net profit attributable to the parent company is projected to be 96.9647 million yuan for 2022, 236 million yuan for 2023, and 269 million yuan for 2024 [1] Fundraising Purpose - The funds raised from the IPO, after deducting issuance costs, will be invested in the establishment of the Ruikemi Greater Bay Area Automotive Intelligent Electric Control System R&D Headquarters, R&D center construction projects, information technology projects, and to supplement working capital [1] - The total amount of funds to be raised is 1.522 billion yuan [1]