Yuanfeng Electric Control's IPO on the GEM has been "terminated (withdrawn)" and the company is now focusing on providing innovative solutions for active safety systems in motor vehicles.
AInvestThursday, Jan 9, 2025 8:30 am ET
1min read

On January 9, Wuhan Yuanfeng Automotive Control System Co., Ltd. (hereinafter referred to as Yuanfeng Control) terminated its IPO on the Shenzhen Stock Exchange's GEM. Yuanfeng Control and its sponsor withdrew their IPO application, and according to Article 62 of the "Shenzhen Stock Exchange Stock Issuance and Listing Review Rules", the Shenzhen Stock Exchange decided to terminate its IPO review.The prospectus shows that Yuanfeng Control is a high-tech enterprise specializing in providing active safety systems for motor vehicles. Its main business is the research, production, sales and technical services of anti-lock braking systems (ABS) and electronic stability control systems (ESC), and it has also developed the ability to research and produce linear control braking systems (YCHB). Its products are widely used in fuel vehicles, new energy vehicles and motorcycles.Since its establishment, Yuanfeng Control has focused on the research, production and sales of active safety systems for automobiles, motorcycles and other motor vehicles. It is one of the earliest enterprises to start the development and achieve the mass production of hydraulic ABS and ESC in China, and has a certain market first-mover advantage. After many years of industry cultivation, the Company has gradually accumulated strong core competitiveness in terms of technological innovation, production scale, product performance and service tracking, and can respond quickly and efficiently to the technical development and order needs of automobile manufacturers. It has developed into one of the enterprises with high-quality reputation in the field of electronic control braking.The actual funds raised in this public offering will be used for the main business-related projects and operating funds needed for the development of the Company's main business, and will be invested in the following projects:[Insert image]Financially, Yuanfeng Control's revenue was Rmb458 million in 2020, Rmb458 million in 2021 and Rmb548 million in 2022, and its net profit was approximately Rmb65.98 million, Rmb67.35 million and Rmb77.38 million respectively during the same period.[Insert image]

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