A new energy company's IPO on the Shenzhen Stock Exchange has been terminated. The company's component shipment volume ranked 9th in the world in 2023.

On August 16, Yidao New Energy Technology Co., Ltd. (referred to as Yidao New Energy) terminated its IPO on the Shenzhen Stock Exchange ChiNext board. The IPO was terminated due to Yidao New Energy and the sponsor withdrawing their application for listing. According to Article 62 of the "Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (2024 Revision)", the Shenzhen Stock Exchange decided to terminate the review of its listing. The prospectus shows that Yidao New Energy is a provider of multi-scenario photovoltaic application ecological solutions led by efficient photovoltaic cell and module research, development, production, and sales. Photovoltaic modules are the core components of photovoltaic power generation systems, converting solar energy into electricity to provide clean, renewable energy for households, industries, and businesses. According to statistics from Saur Energy and International Energy Network/Photovoltaic Headlines, in 2022 and 2023, Yidao New Energy's domestic photovoltaic module scale ranked 7th and 6th in the industry respectively. Yidao New Energy's N-type TOPCon high-efficiency cell technology leads the industry. The company has independently developed the N-type TOPCon technology, which features "four-news": a new carrier transmission mechanism, a new cell structure design, innovative metallization technology, and new material applications, resulting in continuous improvement in conversion efficiency. In January 2024, according to the certification report of the National Photovoltaic Industry Metrology Test Center (NPVM), the efficiency of the company's large-area cells (area of 334cm2) exceeded 26.36%, with an open-circuit voltage of 742mV, achieving the highest open-circuit voltage of crystalline silicon homojunction CECEP Solar Energy cells. At the same time, the company is actively promoting the industrialization of high-efficiency cell technology, and by April 2024, the average conversion efficiency of the company's N-type TOPCon cells in mass production had reached 26.35%. According to statistics from the International Energy Network/Photovoltaic Headlines and company data, in 2023, Yidao New Energy's N-type module scale of approximately 5.17GW ranked in the top 5 in the industry. The company's N-type TOPCon product quality and technological level have been highly recognized by the market. With the development trend of the industry's conversion of old and new production capacity, the company is expected to further enhance its industry position with its high-end advanced production capacity advantages, achieving overtaking on the curve and leapfrog development. After years of development, Yidao New Energy has established a high brand awareness in the domestic and global markets and its market share of photovoltaic modules ranks among the top globally. According to InfoLinkConsulting data, the company's module shipments in 2023 ranked 9th globally, placing it at the forefront globally. Financially, in the years 2021, 2022, and 2023, Yidao New Energy achieved revenues of approximately RMB 1.894 billion, RMB 8.606 billion, and RMB 22.724 billion, respectively, with net profits of approximately -149 million, 192 million, and RMB 435 million during the same periods.