SSE Halts Yalong Share IPO Amid Withdrawal

On May 8, the Shanghai Stock Exchange (SSE) terminated the initial public offering (IPO) application of Wuxi Yalong Precision Machinery Co., Ltd. (Yalong Share). The termination was due to the company and its sponsor withdrawing the application for listing. According to the SSE's rules, the exchange halted the review process for the IPO.

Yalong Share specializes in the research, development, production, and sales of key components for automotive turbochargers. Its primary products include turbocharger housings and related precision components. Over the years, the company has established a strong client base, including Garrett, BorgWarner, Continental/Weipu Technology, and Cummins, all of which are globally renowned manufacturers of turbocharger systems and components.

Yalong Share is committed to providing high-quality key components to turbocharger system manufacturers. Leveraging its technological, managerial, and customer advantages, the company has developed a stable procurement, production, and sales model. It has particularly strong competitive advantages in high-performance and new material turbocharger housings, positioning itself as a professional supplier of key turbocharger components globally.

The company's product range includes various types of turbocharger housings that can be fitted into different models from various manufacturers. Turbochargers are primarily used in gasoline and diesel engines, offering benefits such as enhanced engine power, fuel efficiency, and environmental friendliness.

In addition to turbocharger housings, Yalong Share produces other precision components that are essential for the assembly of turbocharger housings. These components play crucial roles in functions such as closed-loop feedback pressure protection and connecting turbocharger parts. They are characterized by high precision, heat resistance, oxidation resistance, and wear resistance. With years of experience in producing and processing these components, Yalong Share has a mature development process and a professional technical team. The company has transitioned from mere production to front-end research and design, continuously improving its product manufacturing processes.

From a financial perspective, Yalong Share reported revenues of approximately 10.82 billion yuan, 11.77 billion yuan, and 11.03 billion yuan for the years 2020, 2021, and 2022, respectively. The corresponding net profits for these years were approximately 1.03 billion yuan, 1.08 billion yuan, and 1.03 billion yuan.