Ruili Ke secret submission of IPO registration to Shenzhen Stock Exchange, leading the domestic commercial vehicle active safety system enterprise.

On May 6th, Guangzhou Ruilikemi Automotive Electronics Co., Ltd. (referred to as Ruilikemi) applied for the change of IPO review status of the Shenzhen Stock Exchange main board to "submitted for registration". CITIC SEC is its sponsoring institution, and it plans to raise 1.52162 billion yuan. The prospectus shows that Ruilikemi is a national high-tech enterprise specializing in the research, production, and sales of core components related to active safety systems for motor vehicles. Its main business includes the research, production, and sales of active safety systems for motor vehicles and aluminum alloy precision die-casting parts, as well as technical services. The company is one of the few in China with the forward development capabilities of active safety systems such as Anti-lock Braking System (ABS), Electronic Stability Control System (ESC), Electronic Brake System (EBS), Electronic Parking Brake System (EPB), and Electronic Controlled Air Suspension System (ECAS). The company's core products cover mainstream technology routes such as pneumatic braking/hydraulic braking, electronic braking/wire-controlled braking, widely used in the field of commercial vehicles, passenger cars, and motorcycles. Through long-term independent innovation, the company has continuously overcome technological barriers and market bottlenecks, providing comprehensive active safety system solutions to vehicle manufacturers with high cost-effective products and services, and has grown into a leading enterprise in the field of commercial vehicle active safety systems in China. According to statistics from the China Association of Automobile Manufacturers, from 2014 to 2023, the company's pneumatic electronic braking products, including the production and sales of Anti-lock Braking Systems (ABS), have ranked first in the industry for 10 consecutive years. According to the certificate issued by the China Association of Automobile Manufacturers, from 2021 to 2023, Ruilikemi's pneumatic electronic braking system products have consistently ranked first in market share in the industry. In the past three years, Ruilikemi's sales of commercial vehicles were 3.3 million, 4.03 million, and 3.87 million respectively. Excluding exports, the company's sales of commercial vehicle ABS, ESC, and EBS products domestically were approximately 792,100 sets, 956,000 sets, and 1,081,300 sets respectively. Assuming one commercial vehicle is equipped with one set of driving brake system, the company's market share of ABS, ESC, and EBS products in the commercial vehicle field was 24.00%, 23.72%, and 27.92%, respectively, maintaining a leading position in the industry. The funds raised in this issuance, after deducting issuance expenses, will be invested in the following projects: Financially, in 2022, 2023, and 2024, Ruilikemi is expected to achieve operating income of approximately 1.326 billion yuan, 1.76 billion yuan, and 1.977 billion yuan respectively; meanwhile, the net profit is expected to be approximately 105 million yuan, 239 million yuan, and 275 million yuan respectively.