A-share subscription | Longyuan Shares (920055.BJ) opens for subscription, forming a product system with precision die-cast aluminum alloy automotive parts as its core.

On March 23, Longyuan Share (920055.BJ) started its IPO with an issue price of 24.7 yuan per share, a maximum purchase limit of 765,000 shares, a P/E ratio of 14.99 times, listed on the North Exchange, and Sinolink as its sponsoring institution. According to the prospectus, Longyuan Share specializes in the research, production, and sales of aluminum alloy precision die-casting parts. With deep experience accumulated in mold design and manufacturing, product die-casting, and precision processing, the company has developed a core product system focusing on automotive aluminum alloy precision die-casting parts, which are mainly used in key areas such as automotive engine systems, new energy vehicle power systems, automotive steering systems, and automotive thermal management systems. Longyuan Share has formed a customer structure consisting of "global renowned automotive component suppliers + vehicle manufacturers," with major customers including BorgWarner, Taigene Group, Zhejiang EV-Tech, Delta Group, LG Innotek, Saleri, Garrett, Kostal, Ningbo Dechang Electrical Machinery Made, Flex, Marelli, Nidec, LEAPMOTOR, and Great Wall Motor. The company has established long-term stable cooperative relationships with major customers, building a high barrier to customer resources, and its products are widely used in globally renowned automotive brands such as Ford, General Motors, Tesla, NIO, Leap Motor, Xiaomi, BYD Company Limited, Geely, GAC, Renault, Volkswagen, Audi, Changan, Great Wall, Hyundai, Toyota, BMW, Mercedes-Benz, and Chery. According to research data from Grand View Research, the global aluminum die-casting market is estimated to increase from $80.2 billion in 2024 to $111.9 billion in 2030, with a compound annual growth rate of 5.71% and significant market development space. According to data from ZhIyan Consultation, in terms of the domestic die-casting market, China's die-casting production in 2022 was 5.1 million tons, an increase of 5.15% year-on-year. In recent years, the rapid development of the automotive industry as an important downstream application field of the die-casting industry has greatly promoted the development of China's die-casting industry, especially the development of the aluminum alloy die-casting industry. In 2022, China's production of aluminum alloy die-casting parts was 4.36 million tons, making aluminum alloy die-casting the main development direction in the die-casting industry, accounting for about 86% of the total die-casting production. In 2023, China's die-casting production was 5.31 million tons, with a demand of 4.97 million tons, a market size of 249.35 billion yuan, and further growth in die-casting production. Financially, the company achieved operating income of approximately 519 million yuan, 699 million yuan, and 869 million yuan in 2022, 2023, and 2024 respectively, with net profits of approximately 101 million yuan, 126 million yuan, and 129 million yuan during the same periods.