Yu Tian Guan Jia's IPO has been approved on the Chinext board. Its main clients include Chongqing Changan Automobile and FAW Group.

On August 23, Shanghai Yutian Guanjia Technology Co., Ltd. (referred to as Yutian Guanjia) passed the listing committee meeting of the Shanghai Stock Exchange Sci-Tech Innovation Board IPO. The sponsor institution is Guotai Junan Securities, with a planned fundraising of 575 million yuan. According to the prospectus, Yutian Guanjia is a manufacturer of automotive sunroofs, with the main product being automotive sunroofs. The company has the ability to design, develop, and produce automotive sunroofs, mainly serving domestic and foreign well-known automakers in China, as well as some overseas vehicle manufacturers, providing professional and systematic solutions for various automotive sunroofs and other automotive motion components. It is an excellent first-tier supplier of automotive parts. The company's main customers include Chongqing Changan Automobile, FAW Group, GEELY AUTO, Guangzhou Automobile Group, SAIC Volkswagen, Great Wall Motor, and other well-known domestic automakers. The main products of the company include panoramic sunroofs and small sunroofs. Among them, panoramic sunroofs are divided into top-mounted and bottom-mounted panoramic sunroofs. In 2023, Yutian Guanjia sold 2.31 million automotive sunroofs. According to the "Global and Chinese Automotive Sunroof Industry Independent Market Research" report issued by Touba Research Institute, Yutian Guanjia has become the second largest supplier in the Chinese automotive sunroof market in 2023, with a market share of 16%. It is also the only automotive sunroof company born in China among the top five suppliers in the Chinese sunroof market as of 2022. After deducting issuance expenses, the company will invest in the following projects based on the urgency of the projects. In terms of finances, in 2021, 2022, and 2023, Yutian Guanjia achieved operating income of approximately 1.694 billion yuan, 2.021 billion yuan, and 2.491 billion yuan respectively. During the same period, the company achieved net profits of approximately 42.833 million yuan, 70.4209 million yuan, and 1.59 billion yuan respectively. According to the prospectus of Yutian Guanjia, the company may face control risks due to the expansion of its scale. The total amount of funds raised in this public offering is 575 million yuan, which will be used for capacity expansion, technological improvement, automation upgrade, and R&D center construction based on the existing business. The investment projects include Yutian Guanjia's new factory building, automotive roof system and motion component new technology research and development project, automotive electronic research and development construction project, and supplementary working capital project, with total investment amounts of 328.8741 million yuan, 89.0162 million yuan, 88.2247 million yuan, and 75 million yuan respectively. Yutian Guanjia stated that as the investment projects are implemented and the layout and expansion of automotive motion components and other businesses, the company's production capacity will further expand. In the future, business scale, asset size, and number of employees will continue to grow, and the company will face new challenges in internal control in important cycles including sales processes, procurement processes, production processes, human resources, and financial management. If the company's management level cannot meet the needs of rapid expansion in scale, and the organizational model and management system cannot make timely and effective adjustments and improvements in response, the company will face the risk of internal control system failure.