Orthogonal Power's IPO on the Shenzhen Stock Exchange's Growth Enterprise Board has been terminated. It specializes in the research and development of engine cylinder heads and related automotive components.

On February 12th, Chengdu Zhengheng Power Co., Ltd. (referred to as Zhengheng Power) had its IPO review status on the ChiNext Board of the Shenzhen Stock Exchange changed to "terminated." This was due to Zhengheng Power and its sponsor withdrawing their application for listing. In accordance with the relevant provisions of the "Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (2024 Revision)" Article 62, the Shenzhen Stock Exchange decided to terminate the review of the company's initial public offering of shares and listing on the ChiNext Board. According to the prospectus, Zhengheng Power is a national high-tech enterprise specializing in the research, development, production, and sale of engine cylinder heads and related automotive parts. Since its establishment, the company has been providing customers with product development, mold development, casting, machining, and other one-stop solutions based on tooling development, casting, and machining processes in response to the lightweighting and energy-saving requirements of traditional and new energy vehicles. The company has accumulated rich experience and technology in the field of casting and precision machining of engine cylinder heads, and enjoys a high industry reputation in the automotive engine cylinder head sector. It is able to provide synchronized product development and mass production, and is in a leading position in terms of product quality, process technology, production equipment, management, synchronized research and development, and other aspects in the domestic industry. The company's products are mainly supplied to domestic automobile head brands, and are gradually expanding to joint venture and foreign brand automobile sectors. Since 2005, the company has established a supply relationship with DaFa Co., Ltd., a subsidiary of the Toyota Group, and has been collaborating with Toyota for over 15 years; with Chongqing Changan Automobile for over 20 years, with SAIC Motor Corporation for over 10 years, with GEELY AUTO for 7 years, with Great Wall Motor for 4 years, with POWER XINCHEN for over 20 years. The revenue from these customers accounts for over 70% of the company's total income. After more than 20 years of development, the company has become a core key component supplier to well-known automobile manufacturers and engine main plants in China, and is a large-scale production enterprise capable of providing one-stop solutions for product development, mold development, casting, and machining to global customers.