Suzhou Huichuan United Power System Approved for 48.5711 Billion Yuan IPO on ChiNext

On July 11, the China Securities Regulatory Commission (CSRC) approved the registration application for the initial public offering (IPO) of Suzhou Huichuan United Power System Co., Ltd. on the ChiNext board of the Shenzhen Stock Exchange. The company, known as United Power, aims to raise approximately 48.5711 billion yuan through this offering. The underwriter for the IPO is Guotai Junan Securities.

United Power is dedicated to becoming a global leader in intelligent electric vehicle components and solutions. The company's primary products include electric drive systems, such as electric controllers, electric motors, and integrated drive assemblies, as well as power systems like onboard chargers, DC/DC converters, and integrated power assemblies. These components are essential for electric vehicles.

The company serves over 40 downstream automotive manufacturers and provides solutions for more than 170 vehicle models. In 2024, United Power's power system products are expected to exceed 4.5 million units in shipment. The company is deeply involved in the entire lifecycle of new energy vehicles, from design and development to production, sales, and after-sales service.

This approval marks a significant milestone for United Power, as it prepares to enter the public market and further expand its operations. The company's focus on innovation and quality has positioned it as a key player in the electric vehicle industry, and its IPO is expected to attract substantial investment. The successful registration of United Power's IPO underscores the growing interest and investment in the electric vehicle sector, particularly in China. As the demand for electric vehicles continues to rise, companies like United Power are well-positioned to capitalize on this trend and drive innovation in the industry. The IPO will provide United Power with the necessary capital to further develop its technology, expand its product offerings, and strengthen its market position. This move is likely to enhance the company's competitiveness and accelerate its growth in the global electric vehicle market.