Dachang Technology's Shenzhen Stock Exchange IPO has been terminated and it is currently collaborating with multiple car manufacturers.

On August 30, Anhui Dachang Technology Co., Ltd. (referred to as Dachang Technology) terminated its IPO on the Shenzhen Stock Exchange's Growth Enterprise Market. This decision was made as Dachang Technology and the sponsor withdrew their application for listing, in accordance with Article 62 of the Shenzhen Stock Exchange's Stock Issuance and Listing Examination Rules (2024 Revision). According to the prospectus, Dachang Technology is mainly engaged in the research and development, production, and sales of stamped and welded automotive components and related tooling molds. The company's stamped and welded automotive components are divided into body parts and chassis parts. The China Association of Automobile Manufacturers announced that the annual passenger car sales for 2021, 2022, and 2023 were 21.48 million, 23.56 million, and 26.06 million units respectively, with sales of new energy vehicles at 3.52 million, 6.89 million, and 9.49 million units respectively. Dachang Technology has established cooperative relationships with several domestic automotive OEMs and well-known automotive component manufacturers, such as Chery Automobile, Guangzhou Automobile Group, GAC Honda, Volkswagen, Changan Automobile, XPeng Motors, and Bosch. Currently, the company is collaborating with BYD Company Limited and others to develop components such as body parts and chassis parts for new energy vehicles. The total amount of funds raised in this offering, after deducting issuance expenses, is intended to be used for projects related to the company's core business and the funds required for the development of the core business, as follows: Financially, in the 2021, 2022, and 2023 fiscal years, Dachang Technology achieved revenues of approximately 826 million, 1.077 billion, and 1.544 billion RMB respectively, with net profits of approximately 69.86 million, 75.23 million, and 105 million RMB.