Tengli Transmission's Shenzhen Stock Exchange IPO terminated. The company is mainly engaged in the production and sale of zero-speed drive shaft parts.

On July 20th, Hangzhou Tengli Transmission Technology Co., Ltd. (referred to as Tengli Transmission) terminated its IPO on the Shenzhen Stock Exchange. This decision was made due to the withdrawal of the issuance and listing application by Hangzhou Tengli Transmission Technology Co., Ltd. and the sponsor, in accordance with Article 62 of the Shenzhen Stock Exchange's Stock Issuance and Listing Review Rules (Revised in 2024). According to the prospectus, Tengli Transmission specializes in the research, development, production, and sales of zero components and assemblies for constant velocity drive shafts in automobiles. The company has long focused on the passenger car market, providing core zero components for well-known tier-one suppliers and also offering complete solutions for constant velocity drive shaft assemblies to vehicle manufacturers. It is one of the few domestic constant velocity drive shaft manufacturers that have entered the supply systems of renowned vehicle manufacturers. The main products of the company include zero components and assemblies for constant velocity drive shafts. Constant velocity drive shafts are key components of the automotive transmission system, typically installed between the wheel hubs and the gearbox (or motor) to smoothly and reliably transmit the torque from the gearbox (or motor) to the vehicle's drive wheels. They also meet steering requirements and compensate for suspension displacement during vehicle operation. With years of deep cultivation in the constant velocity drive shaft industry, the company is one of the core component suppliers to NTF and one of the first participants in the localization of key components for FENGI Transmissions. Leveraging years of industry experience and high-quality product standards, the company has garnered widespread recognition from premium clients in the industry, receiving awards such as the "Project Development Award" and the "Stormy Award" from NTF, the "Excellent Quality Award" from Jike Automobile, the "Best Cooperation Award" from Chery Automobile, and the "Excellent Delivery Management Award" from Southeast Automobile, among others. At present, the company has established long-term stable partnerships with leading automotive component suppliers such as NTF, FENGI Transmissions, Modern Weia, and JTGET. It has also formed a strategic cooperation with domestic constant velocity drive shaft leader NTF and its products are used in well-known vehicle brands such as Mercedes-Benz, BMW, Audi, Volkswagen, Toyota, Honda, Mazda, Nissan, T company, GM, BYD, SAIC, Geely, Great Wall, Chang'an, and BAIC. Furthermore, the company's constant velocity drive shaft products are highly competitive in niche markets such as new energy vehicles and all-terrain vehicles. In the field of new energy vehicles, the company's constant velocity drive shaft assemblies have been widely used in multiple models of well-known new energy vehicle brands such as Xiaopeng Automobile, LEAPMOTOR, GAC Aian, and BYD, and have also won projects with NIO, with intermediate shaft products being widely used in multiple car models of T company. In the all-terrain vehicle sector, the company has begun mass supply to Bombardier due to its years of R&D and production experience. Additionally, the company's new product, the electric drive connection shaft, has entered mass production and is being supplied in batches to well-known manufacturers such as Weirui Automobile, Nidec Corporation of Japan, and SAIC Transmissions. Currently, the company's bearing cages and intermediate shaft products have a high market share in the domestic market. In terms of performance, the company achieved revenues of approximately 292 million, 377 million, 510 million, and 258 million RMB in 2020, 2021, the first half of 2022, and the first half of 2023, respectively. Net profits were 41.8454 million, 53.298 million, 65.9101 million, and 27.6151 million RMB, respectively.