Shangshui Intelligent Entrepreneurship Board IPO was approved at the Listing Committee meeting, with plans to raise nearly 588 million yuan.

On December 16th, Shenzhen Shangshui Intelligent Co., Ltd. (referred to as Shangshui Intelligent) passed the listing committee meeting of the Shenzhen Stock Exchange Growth Enterprise Board. Guolian Minsheng Securities Co., Ltd. is the sponsoring institution, aiming to raise 587.39 million yuan. According to the prospectus, the company has been deeply involved in the intelligent equipment industry for more than ten years, establishing a comprehensive technical capability system based on "core units + intelligent control systems + process packages". The main business revolves around core processes such as nano-powder handling, precise liquid measurement, liquid mixing and dispersion, and functional film preparation. The products can be widely used in industries such as new energy batteries, new materials, chemicals, food, pharmaceuticals, semiconductors, etc. Currently, the company mainly focuses on the manufacturing of pole pieces for new energy batteries and the preparation of new materials, specializing in the research, design, production, and sales of intelligent equipment with integrated process capabilities. During the reporting period, the composition of Shangshui Intelligent's main business income is as follows: According to GGII statistics, by 2024, the company's circulating high-efficiency pulping system has a market share of 60% in the domestic market, ranking first. The company's lithium battery pulping system has a market share of 12.77% in the domestic market, ranking third. In the field of new energy battery pole piece manufacturing, the company has established cooperation with companies such as BYD Company Limited, Eve Energy Co., Ltd., Contemporary Amperex Technology, CALB, Ningde New Energy, REPT BATTERO, Chu Neng New Energy, Sunwoda Electronic, Farasis Power, Guangzhou Great Power Energy and Technology, Xingheng Power, Tianjin Lishen, and GAC Aian, as well as overseas new energy battery manufacturers such as Samsung SDI, LGES, Panasonic, and SKOn. In terms of finance, for the years 2022, 2023, 2024, and January to June 2025, the operating income of Have Research Composite Materials is approximately 397 million yuan, 601 million yuan, 637 million yuan, and 398 million yuan respectively. During the same period, the net profits were 97.72 million yuan, approximately 234 million yuan, approximately 153 million yuan, and 93.7062 million yuan respectively.