Gao Weike, a company listed on the Shenzhen Stock Exchange's ChiNext board, has terminated its IPO. The company's main business is research and development, production, and sales of core products in automation systems.

On September 25, Beijing Gaowei Electric Technology Co., Ltd. (referred to as Gaowei) terminated its IPO on the Shenzhen Stock Exchange's Growth Enterprise Market. This decision was made because Gaowei and its sponsor withdrew their application for listing, in accordance with Article 62 of the Shenzhen Stock Exchange's Stock Issuance and Listing Review Rules (revised in 2024). The prospectus shows that Gaowei is a high-tech enterprise specializing in industrial automation, digital comprehensive services, and the R&D, production, and sales of core products for automation control systems. Since its establishment, the company has emphasized technological research and development, continuously enhancing its capabilities in industrial automation and digital system solutions. Its main business in industrial automation comprehensive services includes product sales for technical integration, automation control system integration, and automation product distribution; while its industrial digital comprehensive services focus on MES system design and development. In terms of R&D and manufacturing of core products for automation control systems, Gaowei primarily focuses on the development and manufacturing of motion control core products - servo systems and PLC. Gaowei has been deeply involved in the field of industrial automation, focusing on technological innovation and extending its business to the R&D and manufacturing of core products in upstream motion control, assisting manufacturing industry clients in transitioning and upgrading towards automation, digitization, and intelligence. As of the signing date of this prospectus, the issuer had a total of 8 invention patents, 9 utility model patents, 2 design patents, and 214 software copyrights. Regarding the distribution of automation products, the company serves as an important distributor for upstream manufacturers of automation products, selling products to customers based on their needs and providing services such as logistics distribution, product usage consultation, and after-sales maintenance. The company's 15 subsidiaries are located in various provincial-level administrative regions, forming a preliminary sales network covering major economic regions nationwide, providing customers with stable, timely, and reliable products and services. Leveraging strong sales channels, the issuer has become a key partner to multinational companies such as Mitsubishi, Schneider, SMC, Shanyang, Siemens, and ABB, having strong industry competitiveness in the field of industrial automation services. Since joining the WTO, with a significant increase in export demand, China's manufacturing industry has flourished, driving the widespread application of industrial automation technology. In addition, the continuous growth of human capital, the increasing demand for product quality and manufacturing precision in the market, have also driven the continuous growth of the industrial automation market. According to statistics published by China Industrial Control Network, the scale of the industrial automation market in China has been on the rise since 2004, growing from 65.2 billion yuan in 2004 to 262.9 billion yuan in 2022. In terms of financials, Gaowei achieved revenues of approximately 1.315 billion yuan, 1.635 billion yuan, and 1.524 billion yuan in the fiscal years of 2020, 2021, and 2022, respectively, with corresponding net profits of 36.9219 million yuan, 47.5569 million yuan, and 58.6001 million yuan during the same periods.