Eagle Peak Electronics Shenzhen Stock Exchange IPO "terminated" The company's products are already matched with various models such as GAC Aeolus and Ideal L Series.

On July 26th, Shanghai Yingfeng Electronic Technology Co., Ltd. (referred to as Yingfeng Electronics) had its IPO review status at the Shenzhen Stock Exchange changed to "terminated." This decision was made due to Yingfeng Electronics and its sponsor withdrawing their application for listing. According to the Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (revised in 2024), the Shenzhen Stock Exchange decided to terminate the review for its listing. The prospectus disclosed that Yingfeng Electronics is one of the leading domestic enterprises in the field of passive electronic components for power electronics. The company is engaged in the research, development, production, and sales of passive electronic components such as capacitors, inductors, busbars, and resistors, mainly used in power electronics fields such as new energy vehicles, wind power, photovoltaics, and industrial automation. Yingfeng Electronics has been deeply involved in the passive electronic components industry for 20 years, and has established research and production bases in Shanghai and Anhui. In the early stages of development, Yingfeng Electronics' products were mainly used in industrial automation and wind power and photovoltaic fields, with high-quality customers such as Vestas, Sungrow Power Supply, Danfoss, Shenzhen Inovance Technology, Schneider Electric, and ABB. In recent years, the rapid development of the new energy vehicle market has brought significant opportunities for the development of automotive-grade passive components. The company has been continuously investing in the research and development of automotive-grade film capacitors, automotive-grade boost inductors, and other products. It has successfully supplied products for BYD Company Limited's DM-i series plug-in hybrid electric vehicles, BYD Company Limited's Dynasty series electric vehicles, Volvos XC series plug-in hybrid electric vehicles, GAC Aion series electric vehicles, Great Wall's Haval series plug-in hybrid electric vehicles, Xiaopeng X9, and NIO's L series, among many other models. In the past three years, the revenue from the company's new energy vehicle products was 323 million yuan, 927 million yuan, and 778 million yuan, with a compound annual growth rate of 55.29%, accounting for 37.26%, 63.70%, and 56.85% of the main business income respectively. Currently, the company's automotive-grade passive components products are in a leading position in the industry. The company's automotive-grade film capacitors are mainly used in the electric drive systems of new energy vehicles, playing a role in direct current support (DC-Link). According to NE Times' data, the company's market shares in the domestic market in 2021, 2022, and 2023 were respectively the 4th, 2nd, and 2nd place. It is understood that following the deduction of issuance expenses, the funds raised by Yingfeng Electronics in this issuance will be invested in the following projects: In terms of financials, in 2021, 2022, and 2023, Yingfeng Electronics achieved operating revenues of approximately 877 million yuan, 1.482 billion yuan, and 1.396 billion yuan, with net profits of 42.6997 million yuan, 104 million yuan, and 115 million yuan respectively. Yingfeng Electronics highlighted in the prospectus the risk of fluctuations in the prices of major raw materials. The raw materials required for the production of the issuer mainly include copper, aluminum, silicon steel, and other commodities, the prices of which are greatly influenced by the international economic situation and supply-demand environment. During the reporting period, the proportion of direct material costs to total operating costs was respectively 76.83%, 79.40%, and 77.37%, making it an important component of total operating costs. Fluctuations in raw material prices will have a certain impact on the company's production costs, thereby affecting the company's business performance. Since the fourth quarter of 2023, the prices of the issuer's main raw material, copper, have entered an upward trend, which has a certain impact on the direct material costs of the issuer. If copper prices continue to rise in the future, it may further adversely affect the company's production operations and profitability.