CSRC approves Gudeng Electric Materials' IPO registration on the ChiNext board.

On January 8th, the China Securities Regulatory Commission issued the approval for the initial public offering (IPO) of GCL System Integration Technology Co., Ltd. (Suzhou). It is reported that GCL System Integration plans to list on the ChiNext board of the Shenzhen Stock Exchange, with Soochow acting as its sponsor institution, aiming to raise 1.17571 billion yuan. According to the prospectus, GCL System Integration focuses on the research, development, production, and sales of thermal runaway protection components for new energy vehicle power batteries and insulation products for electrical engineers, providing customers with customized solutions for thermal runaway protection and high-performance insulation solutions. The company's main products include thermal runaway protection components for new energy vehicle power batteries and insulation products for electrical engineers. During the reporting period, the sales scale of thermal runaway protection components for new energy vehicle power batteries continued to increase, becoming the main source of revenue growth for the company.