WiseTech Global's IPO on the Shenzhen Stock Exchange Main Board has been approved by the Listing Committee, with plans to raise nearly 1.594 billion yuan.

On December 30, Beijing Weitongli Electric Co., Ltd. (referred to as Weitongli) passed the listing committee meeting of the Shenzhen Stock Exchange main board. Zhongtai is the sponsoring institution, intending to raise 1.59374 billion yuan. The prospectus shows that Weitongli's main business is the research and development, production, and sales of series of electrical connection products such as hard connection, flexible connection, contact components, laminated busbars, CCS, and sync decomposers, as well as products tailored to individualized customer needs, providing high-performance electrical connection products to customers in various fields globally, making electrical connections safer, more reliable, greener, and smarter. Weitongli mainly serves high-end customers in the electrical connection products, and its products have been widely recognized by mainstream customers in various application fields. In the power and electrical industry, products are supplied to Siemens, Schneider, ABB, Hitachi Energy, GE, etc.; in the new energy vehicle industry, products are supplied to BYD Company Limited, Stellantis, LEAPMOTOR, CALB, Sunwoda Electronic, Honeycomb Energy, Farasis Energy, etc.; in the wind and solar energy storage field, products are supplied to Goldwind Science & Technology, Ming Yang Smart Energy, Widetech, Sungrow Power Supply, Soeun Electric, Qipoint Energy, Delta Electronics, etc.; in the rail transportation sector, products are supplied to CRRC Corporation, Westinghouse Braking, Alstom, etc. The above customers are all leading companies in their respective industries or Fortune 500 companies. The main business income and composition according to the product division for each reporting period are as follows: Financially, in 2022, 2023, and 2024, Weitongli's operating income is approximately 1.437 billion, 1.699 billion, and 2.390 billion yuan respectively; during the same period, the net profits are approximately 115 million, 186 million, and 271 million yuan respectively.