Subscribing for A-shares | Dianke Lantian (688818.SH) opens for subscriptions, the market coverage of aerospace power products in the domestic market exceeds 50%

On January 30th, Dianke Lantian (688818.SH) started its subscription with an issue price of 9.47 yuan per share and a maximum subscription limit of 27,500 shares. The industry's P/E ratio is 44.69 times, and it belongs to the Science and Technology Innovation Board of the Shanghai Stock Exchange, with China Securities Co., Ltd. as its sponsor. The prospectus shows that Dianke Lantian is mainly engaged in the research and development, production, sales, and service of electric energy products and systems, with a full set of solutions for power generation, energy storage, control, and system integration, covering a wide range of application areas from deep sea (1 km under the water) to deep space (2.25 billion km away from Earth). The company's main business covers three major sectors: aerospace power, special power, and new energy applications and services. The company's aerospace power products mainly include space solar arrays, space lithium-ion battery packs, power control equipment, and power systems used in spacecraft and near-space vehicles. Dianke Lantian is a core supplier of aerospace power in China, with a domestic market coverage of over 50%. Compared to traditional electric energy companies, the company's solar panels convert CECEP Solar Energy into direct current energy through the photovoltaic effect, making them suitable for space use as space solar arrays. Unlike ground-based photovoltaic panels that aim for mass production and low cost, the core value of space solar arrays lies in their extreme performance and reliability. They have high requirements for extreme environments such as severe temperature changes, cosmic radiation, zero gravity, energy density, lightweight, and photovoltaic conversion efficiency. They are the lifeline for various types of spacecraft such as satellites, space stations, and deep space probes. The products of the company's special power lineup mainly consist of special lithium-ion battery packs and fuel cells. The company's special lithium-ion battery packs are mainly used in portable equipment, special vehicles, special drones, and Siasun Robot & Automation. The company has undertaken over 100 research projects for lithium-ion battery packs for key projects, with over 300 product models. In the field of portable power equipment, the company is a leading domestic enterprise. In the field of power for special vehicles, special drones, and industrial Siasun Robot & Automation, the company is an important domestic supplier. In the area of industrial Siasun Robot & Automation power, the company is currently focusing on AGV lithium-ion batteries and has become one of the important suppliers of AGV lithium-ion battery packs in China. The company's fuel cells are mainly used in portable equipment, emergency power sources, and other national defense areas, and during the reporting period, fuel cells have been industrialized. While deeply cultivating aerospace power and special power, the company is actively expanding into the civil market by exploring the photovoltaic and energy storage markets. The company's new energy application and service sector mainly include microgrid solutions, energy storage systems and EPC services, photovoltaic solutions, power detection services, as well as lithium cathode materials and consumer lithium-ion batteries. The funds raised in this offering, after deducting issuance expenses, will be invested in the following projects and will be implemented by the company's board of directors: Financially, in the fiscal years 2022, 2023, 2024, and January to June 2025, the company's operating income is expected to be approximately 2.521 billion yuan, 3.524 billion yuan, 3.127 billion yuan, and 1.113 billion yuan, respectively. Net profit for the same period is expected to be approximately 214 million yuan, 190 million yuan, 338 million yuan, and 59.4688 million yuan, respectively.