Sanrui Intelligent Entrepreneurship Board IPO registration submitted, planning to raise 768.88 million yuan.

On January 5th, Nanchang Sanrui Intelligent Technology Co., Ltd. (hereinafter referred to as Sanrui Intelligent) applied for a change in the IPO review status of the Shenzhen Stock Exchange's GEM to "registration submitted". Guotai Haitong is the sponsor institution, planning to raise 768.88 million yuan. According to the prospectus, Sanrui Intelligent is a manufacturer of drone and Siasun Robot&Automation power systems. Its main business is the research, development, production, and sales of drone electric power systems and Siasun Robot&Automation power systems, as well as actively deploying electric vertical takeoff and landing aircraft (eVTOL) power system products. In terms of drone electric power systems, the company's products include motors, electronic speed controllers, propellers, and integrated power systems, covering a full range of electric power systems. These products are used in vertical sectors such as agricultural crop spraying, industrial inspection, surveying and mapping, express logistics, emergency rescue, and security monitoring, and can be adapted to various types of drones such as multi-rotor, fixed-wing, and composite-wing. The company's products are sold in more than 100 countries and regions across Asia, Europe, the Americas, Africa, and Oceania. Its downstream direct sales customers are relatively diversified and cover a large number of customers, with sales exceeding 1 million customers, including well-known clients in the drone industry such as China Aerospace Times Electronics, Chengdu Jouav Automation Tech Co., Ltd., Shanghai Huace Navigation Technology, and Japan's NTT. In terms of Siasun Robot&Automation power systems, the company established its own brand CubeMars in 2018, focusing on Siasun Robot&Automation joint areas. It has independently developed and produced all core components of Siasun Robot&Automation power modules including motors, drive boards, and planetary reducers. The company's products can be applied to humanoid Siasun Robot&Automation, exoskeleton and wearable devices, quadruped Siasun Robot&Automation, and other emerging fields. The prospectus warns of risks, noting that during the reporting period, the percentage of direct materials to the main business costs was relatively high at 76.28%, 75.43%, 74.76%, and 72.67%. If the prices of major raw materials increase significantly in the future, it will bring certain cost pressures to the company and affect its operational performance. The funds raised in this issuance will be used for the company's main business-related projects after deducting issuance expenses, as follows:... Financially, in the fiscal year 2022, 2023, 2024, and January to June 2025, Sanrui Intelligent is expected to achieve operating revenues of approximately 362 million yuan, 534 million yuan, 831 million yuan, and 436 million yuan respectively. During the same period, net profits are expected to be approximately 113 million yuan, 172 million yuan, 333 million yuan, and 161 million yuan respectively.