CSRC approves Joint Power's application for listing on the ChiNext board.

On July 11, the China Securities Regulatory Commission issued the approval for the initial public offering of shares of Suzhou Huichuan Joint Drive System Co., Ltd. It is reported that Joint Drive System plans to list on the ChiNext board of the Shenzhen Stock Exchange, with Guotai Haitong as its sponsor institution, planning to raise 4.85711 billion yuan. According to the prospectus, Joint Drive System is committed to becoming a global leading provider of intelligent electric vehicle components and solutions, with main products including electric drive systems (electric control, motor, integrated drive assembly) and power systems (on-board charger, DC/DC converter, integrated power assembly) and other core components of power systems. The company provides power system solutions to over 40 downstream vehicle manufacturers and over 170 vehicle models, with a projected shipment volume of over 4.5 million units in 2024, deeply involved in new energy vehicle lifecycle including vehicle design, power system development, vehicle production and sales, as well as after-sales quality assurance.