"Gatech Electronic's GEM IPO application has been accepted, it is a provider of products related to new energy storage battery management systems."

On June 23, Hangzhou Gaote Electronic Equipment Co., Ltd. (referred to as Gaote Electronics) IPO on the ChiNext board of the Shenzhen Stock Exchange has been accepted. CITIC SEC is its sponsor institution, aiming to raise 850 million yuan. The prospectus shows that Gaote Electronics mainly provides safe, reliable, efficient, stable, and more cost-effective new energy storage battery management system related products for the new energy industry. For three consecutive years, the company has maintained a leading position in the industry in terms of shipment volume of BMS products in the large-scale energy storage field, and is committed to becoming a core supplier of global leading new energy storage system safety and value enhancement solutions. BMS is the "central nervous system" of the new energy storage system, used for multi-dimensional data collection, diagnosis, safety management, and active maintenance of the battery system to ensure the safe, reliable, stable, and economically operation of the new energy storage battery system. According to the downstream application fields, the company's main products are energy storage BMS modules and related products. Leveraging the characteristics of BMS data collection and aggregation, the company has expanded into integrated control units and data services, while also covering backup power BMS, power battery BMS, and other products. During the reporting period, the company's energy storage BMS related products were widely used in large-scale high-voltage energy storage power stations on the power grid side, as well as in industrial and commercial energy storage, household energy storage, and other areas. The company's products also cover backup power BMS used in data centers, communication base stations, rail transportation, as well as power battery BMS used in new energy vehicles, electric vessels, and power detection in related businesses. According to the 2024 China New Energy Storage Industry Development White Paper released by CESA, the company ranked first in the list of Top 10 New Energy Storage BMS Enterprises in China in 2023. As of the end of 2024, according to the joint statistics released by the CHINA POWER Enterprise Cooperation and the National Electrochemical Energy Storage Power Station Safety Monitoring Information Platform, the top five BMS manufacturers in terms of installed capacity of operating power stations include Gaote Electronics, Xieneng Technology, Haiboshichuang, BYD Company Limited, and Sungrow Power Supply. After deducting issuance expenses, the company plans to invest in the following projects: Financially, in 2022, 2023, and 2024, Gaote Electronics achieved operating income of approximately 346 million yuan, 779 million yuan, and 919 million yuan respectively; during the same period, the company achieved net profits of approximately 53.75 million yuan, 88.22 million yuan, and 98.42 million yuan respectively.