Zixin Corporation's IPO approved by Shanghai Stock Exchange, planning to raise 1.329 billion yuan.

On November 6th, Chongqing Zhixin Industry Co., Ltd. (referred to as Zhixin Group) passed the IPO listing committee of the Shanghai Stock Exchange. The sponsoring institution is Shenwan Hongyuan Group, with plans to raise 1.329 billion yuan. The prospectus shows that Zhixin Group, established in January 1995, has been committed to the development, processing, production, and sales of automotive stamping and welding parts and related molds. It has also expanded upstream into the fields of mold development, processing, production, and overall automation production solutions around stamping and welding parts. Zhixin Group continues to maintain a competitive advantage in the domestic automotive stamping and welding parts field. Its subsidiaries include Dajiang Zhixin, specializing in mold development and manufacturing, and Yanshu Automation, specializing in intelligent manufacturing solutions for industrial Siasun Robot & Automation. The company has strong capabilities in mold design and development, intelligent manufacturing integration, automation production, synchronous development innovation, and overall package design and manufacturing, meeting the development requirements of different stages for automobile manufacturers. The company continues to deepen its presence in the automotive parts and mold fields, adapting its operations to its management capabilities, manufacturing processes, design and research capabilities, downstream market changes, and customer demands. As a strategic emerging industry in China, the new energy vehicle industry has long been highly valued by the government, with a series of policies encouraging and supporting its development. Zhixin Group is deeply involved in the new energy vehicle business, with revenues from stamping and welding parts applied to new energy vehicle models increasing significantly from 25.27% in 2022 to 71.42% in the first half of 2025, becoming an important source of the company's performance growth. The company is a member unit of the Chongqing Automobile Motorcycle Industry Association's parts branch, and has been a Ford global Q1 supplier since 2007. It has become a Tier 1 supporting supplier for well-known automobile manufacturers such as Chongqing Changan Automobile, GEELY AUTO, Changan Ford, BYD Company Limited, NIO, and Li Auto, actively expanding its business with suppliers such as Contemporary Amperex Technology, Inalfa, and Webasto. According to the prospectus, the funds raised in this issuance plan to invest in capacity expansion and technological transformation projects for stamping and welding production lines in Chongqing, Ningbo, and Anhui, as well as supplement working capital. Financially, the company's operating income for 2022, 2023, 2024, and the first half of 2025 was 20.91 billion yuan, 25.64 billion yuan, 30.88 billion yuan, and 16.04 billion yuan, respectively. The company's operating income has steadily increased during the reporting period, with a compound annual growth rate of 21.52% from 2022 to 2024. As the business expands and process optimization and cost control improve, the company's profitability continues to increase.