A-share subscription | V-Tongli (001393.SZ) opens subscription. The product supplies electricity, electrical engineering, new energy vehicles, wind power storage and other fields.

On May 6th, Weitongli (001393.SZ) initiated its IPO with an issue price of 30.38 yuan/share, with a maximum subscription limit of 20,000 shares, a price-to-earnings ratio of 25.36 times. It is listed on the Shenzhen Stock Exchange, with Zhongtai serving as its sponsor institution. According to the prospectus, Weitongli's main business includes research, development, production, and sales of series of electrical connection products such as hard connectors, flexible connectors, contact components, laminated busbars, CCS, and synchronous dividers. The company is dedicated to providing high-performance electrical connection products for customers worldwide in various fields, tailored to their individual needs, to make electrical connections safer, more reliable, greener, and smarter. In the field of electrical power engineering, the company supplies products to Siemens, Schneider, ABB, Hitachi Energy, GE, etc. In the new energy vehicle field, products are supplied to BYD Company Limited, Stranty, LEAPMOTOR, CALB, Sunwoda Electronic, Beehive Energy, Farasis Energy (Gan Zhou) Co., Ltd., etc. In the wind and solar storage field, products are supplied to Goldwind Science & Technology, Delta Electronics, Ming Yang Smart Energy, Vedai Technology, East Group Co., Ltd., Soaring Electric, Haichen Energy Storage, etc. In the rail transportation field, products are supplied to CRRC Corporation, Westinghouse Brake, Alstom, etc. According to the certification issued by the China Electrical Appliance Industry Association, the hard and soft connection market is fragmented with relatively low concentration. Weitongli ranks first in industry revenue for hard connectors and flexible connectors by 2024; first in industry revenue for hard connectors and flexible connectors in the new energy vehicle sector by 2024; and second in industry revenue for laminated busbars by 2024. According to the certification issued by the China Automobile Industry Association, the Chinese synchronous separator sector is showing a trend of expanding market scale for domestic brands. Weitongli is a leading enterprise in the synchronous separator field, ranking among the top three domestic parts suppliers by revenue in 2024. In terms of finances, the company achieved operating revenues of approximately 1.437 billion yuan, 1.699 billion yuan, and 2.39 billion yuan in 2022, 2023, and 2024 respectively. Over the same period, net profits were approximately 115 million yuan, 186 million yuan, and 271 million yuan respectively.