CSRC agrees to Yutian Guanjia's registration for the GEM IPO.

On November 14th, the China Securities Regulatory Commission issued a reply on approving the initial public offering registration of Shanghai Yutian Guanjia Technology Co., Ltd. It is reported that Yutian Guanjia plans to list on the ChiNext board of the Shenzhen Stock Exchange, with Guotai Junan as the IPO sponsor, aiming to raise 575 million yuan. According to the prospectus, Yutian Guanjia is a manufacturer of automotive sunroofs, with the main products being automotive movement components. The company has the capability to design, research, and produce automotive sunroofs, and mainly serves well-known domestic and foreign automobile manufacturers in China, as well as some overseas vehicle manufacturers, providing professional and comprehensive solutions for various types of automotive sunroofs and other automotive movement components. It is an excellent first-tier supplier of automotive components. The company's main customers currently include Chongqing Changan Automobile, FAW Group, GEELY AUTO, Guangzhou Automobile Group, SAIC Volkswagen, Great Wall Motor, and other well-known domestic automobile manufacturers. The main products of the company include panoramic sunroofs and small sunroofs, with panoramic sunroofs being classified as top-mounted and bottom-mounted. In 2023, the sales volume of Yutian Guanjia automotive sunroofs was 2.31 million units. According to the report issued by the Head Leopard Research Institute titled "Global and Chinese Automotive Sunroof Industry Independent Market Research", 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 Chinese automotive sunroof enterprise among the top five suppliers in the Chinese sunroof market as of 2022.