Rui Li Ke Mi successfully passed the IPO review of the Shenzhen Stock Exchange Listing Committee, ranking first in the industry for 10 consecutive years in the production and sales of ABS.

On April 18, Guangzhou Reliable Automotive Electronics Co., Ltd. ("Reliable Automotive Electronics") went through the review of the listing committee of the Shenzhen Stock Exchange. CITIC SEC is its sponsor and it plans to raise 1.52162 billion yuan. According to the statistics of the China Association of Automobile Manufacturers, from 2014 to 2023, the company's pressure control brake products, including the production and sales of anti-lock braking systems (ABS), have ranked first in the industry for 10 consecutive years. According to its prospectus, Reliable Automotive Electronics is a national high-tech enterprise specializing in the research, development, production, and sales of core components related to active safety systems for motor vehicles. Its main business includes the research, development, production, and sales of active safety systems for motor vehicles and precision aluminum die-casting parts, as well as technical services. The company is one of the few in China with the capability to develop active safety systems such as Anti-lock Braking System (ABS), Electronic Stability Control System (ESC), Electronic Braking System (EBS), Electronic Parking Brake System (EPB), and Electronic Controlled Air Suspension System (ECAS). Its core products cover mainstream technologies such as pneumatic braking/hydraulic braking, electronic controlled braking/wire controlled braking, and are widely used in the field of braking safety for commercial vehicles, passenger cars, and motorcycles. After more than 20 years of technological accumulation and business practice, the company has accumulated a large number of strategic cooperation relationships with whole vehicle manufacturers. Currently, its main products cover a variety of domestic leading whole vehicle enterprises such as FAW Jiefang Group, Sinotruk Jinan Truck, Dongfeng Group, Beiqi Foton, SAIC Hongyan, Shaanqi Group, Golden Dragon Bus, Zhongtong Bus Holding, CIMC Vehicles, Chery, Geely, Zhejiang CFMOTO Power, Zhejiang Qianjiang Motorcycle, etc., and are exported to Europe, America, and other countries and regions, directly participating in international market competition. In terms of finances, in the fiscal years 2024, 2023, and 2022, Reliable Automotive Electronics achieved operating income of approximately 1.977 billion yuan, 1.76 billion yuan, and 1.326 billion yuan respectively; and net profits of approximately 275 million yuan, 239 million yuan, and 105 million yuan respectively. The company's potential risks mainly include risks related to product research and development and technological iteration, risks of core technical personnel turnover, and risks of business performance fluctuations. The development, sampling, targeting, and final mass production of new products take a long time. The cycle from research and development to mass production is even longer for key products. The success of new products and technologies is influenced by various factors such as industry policies, technological changes, market demand, market promotion, and market competition, leading to a certain level of uncertainty. If the company fails to achieve results in its research and development direction as scheduled, if its research and development investment cannot be industrialized to achieve corresponding benefits, if it cannot continue to innovate and achieve product technological iteration, or if its new technologies and products fail to gain market acceptance in the short term, it may result in a decline in the company's market competitiveness, negatively impacting its business performance.