Force Power's inclusion in the GEM IPO "under inquiry", committed to increasing the green component of industrial power supplies.

On January 15, Jiangxi Liyuan Haina Technology Co., Ltd. (Liyuan Haina) applied to the Shenzhen Stock Exchange for a change in the status of its listing review to "inquiry completed." CMSC is its sponsor institution, and it plans to raise 1.18057 billion yuan. The prospectus shows that Liyuan Haina's main business is the research, development, production, and sales of industrial power supply products, including high-frequency switch power supplies, high-speed pulse power supplies, and other power supplies. The company's products are mainly used in industries such as lithium batteries, high-precision electronic copper foil, PCB equipment, ultra-pure electronic gases, metal and rare earth smelting, high-end surface treatment, environmental protection, and water treatment. Since 2022, the company has focused on expanding its presence in new energy fields such as photovoltaics, electrolytic hydrogen production, and wave power generation, and has strengthened research and development in high-precision high-speed power supplies for semiconductor wafers, high-purity silicon carbide substrate heating power supplies, radio frequency power supplies, differentiated energy storage, etc. The company adheres to the concept of "pursuing technological innovation, continuously creating value," and is committed to improving the energy-saving, green, and intelligent development level of industrial power equipment in various fields, and constantly promoting the localization process of high-end industrial power equipment. In the field of PCB equipment, the company's PCB electroplating power supply products can provide high-precision, high-stability current output for PCB manufacturing, used in PCB manufacturing high aspect ratio through-holes, blind holes, and filling hole electroplating processes, effectively addressing the difficulty in forming high-quality electrical connections in PCB products under the trend of high aspect ratio. According to data from the China Electronic Circuit Association, in 2022, the company's revenue from PCB equipment industrial power supplies ranks 20th in the list of leading specialized PCB equipment and instrument companies, being the only power equipment manufacturer on the list; at the same time, more than 80 of the top 100 comprehensive PCB companies in the China electronic circuit industry ranking list are customers of the company. After deducting issuance expenses from the funds raised in this offering, the funds will be invested in the following projects: Financially, Liyuan Haina realized operating income of approximately 380 million yuan, 493 million yuan, 591 million yuan, and 262 million yuan in 2021, 2022, 2023, and January-June 2024, respectively; during the same period, net profits were 103 million yuan, 125 million yuan, 153 million yuan, and 41.27 million yuan, respectively.