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Market Capitalization Exceeds 80 Billion! United Power Listed On Shenzhen Stock Exchange ChiNext

Electric Train Resources 2025-09-26 09:44:56

According to relevant information, Suzhou Inovance Automotive Power System Co., Ltd. (stock code: 301656.SZ) was officially listed on the ChiNext Market of the Shenzhen Stock Exchange on September 25, opening at an issue price of 12.48 yuan per share. On the first day, the stock price rose by 28.2%, with a total market value exceeding 80 billion yuan, making it the largest IPO in the core components sector of new energy vehicles by 2025.

The total amount of funds raised from this public offering is 3.6 billion yuan. After deducting issuance costs, the funds will be primarily invested in three major areas: the construction of production bases for core components of new energy vehicles (totaling 4.22 billion yuan, covering capacity expansion in Suzhou and Changzhou), the upgrading of research and development centers and platforms (1.32 billion yuan, including the development of a new generation of powertrains for passenger and commercial vehicles), and the remaining 800 million yuan will be used to supplement working capital.

Notably, this issuance has been strongly supported by 14 strategic investors, with a total subscription amount exceeding 1 billion yuan. These investors include core institutions of the industrial chain and local state-owned capital platforms such as the National Social Security Fund, China Insurance Investment Fund, Chery Capital, and Yutong Light-duty Vehicles. Among them, an asset management plan under Guotai Junan independently subscribed for 240 million yuan.

The popularity of the listing is backed by the company's robust performance growth and technological barriers. As a core subsidiary controlled by Inovance Technology (holding 94.51% of shares), United Power's revenue for the first half of 2025 has reached 9.1 billion yuan, with a nearly 450% compound annual growth rate in overseas income over the past three years. On the technical front, the company has assembled a research and development team of 1,800 people (with over 50% holding master's or doctoral degrees), achieving fully independent research and development of core components such as IGBT/SiC power modules and domestic control chips. The company has provided electric drive system solutions for more than 170 vehicle models, with the main product shipments exceeding 8 million units.

The significance of this listing in the industry is particularly notable: Amidst the wave of localization in new energy vehicle power systems, United Power has entered the supply chains of 8 out of the top 10 domestic car manufacturers and has integrated into the system of mainstream international brands. With the commissioning of its production bases in Changzhou and Suzhou, it will further alleviate the supply gap of high-end electric drive systems. Dongfang Wealth Securities pointed out that after the company goes public, it will accelerate the layout of overseas bases in Europe and Southeast Asia. It is expected that by 2026, the proportion of overseas revenue will increase from the current 15% to 30%, providing a benchmark example for the "core components going abroad" in the new energy industry chain.

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Market Capitalization Exceeds 80 Billion! United Power Listed On Shenzhen Stock Exchange ChiNext

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