Gaote Electronics successfully passed the IPO on the GEM board and plans to raise 850 million yuan.

On January 13th, Hangzhou Gaote Electronic Equipment Co., Ltd. (referred to as Gaote Electronics) passed the listing committee meeting of the Shenzhen Stock Exchange ChiNext Board IPO. The sponsor institution is CITIC SEC, with a planned fundraising of 850 million yuan. According to the prospectus, Gaote Electronics was established in 1998 and is a national high-tech enterprise driven by technological innovation and a specialized "little giant" enterprise. It provides safe, reliable, efficient, stable, and more economical new energy storage battery management system products for the new energy industry. For three consecutive years, the company has maintained a leading position in the industry in terms of BMS product shipments in the large-scale energy storage field, aiming to become a core supplier of new energy storage system safety and value enhancement solutions globally. Divided by downstream application areas, the company's main products are energy storage BMS modules and related products. Leveraging the characteristics of BMS data collection and aggregation, the company has expanded into integrated control units and data services, while also covering products such as backup power BMS and power battery BMS. During the reporting period, the company's energy storage BMS-related products were widely used in large-scale high-voltage energy storage power stations on the power/grid side, as well as in industrial energy storage, household energy storage, and other fields. The company's products also cover backup power BMS used in data centers, communication base stations, rail transit, as well as power battery BMS used in new energy vehicles, electric ships, and power detection-related businesses. Gaote Electronics has continuously maintained a leading market position in the large-scale energy storage BMS field in terms of product shipments, enjoying high market visibility and brand recognition. According to the "2024 China New Energy Storage Industry Development White Paper" published by CESA, the company ranked first on the list of the top 10 BMS companies in China in 2023. According to statistics from the China Power Enterprises Association and the National Electrochemical Energy Storage Power Station Safety Monitoring Information Platform, as of the end of 2024 and June 2025, the top five BMS manufacturers in terms of installed capacity of operating stations include Gaote Electronics, Xioneng Technology, Beijing HyperStrong Technology, BYD Company Limited, and Sungrow Power Supply. With energy storage BMS as its core, the company's related products are widely used in the new energy storage industry, serving mainstream energy system integrators, battery manufacturers, and energy companies in China. Some of the well-known customers in the main fields include China Southern Power Grid, Petrochina, State Power Investment, Contemporary Amperex Technology, Sunwoda Electronic, and Gotion High-tech. The funds raised in this issuance, after deducting issuance expenses, are intended to be invested in the construction of the intelligent manufacturing center for energy storage battery management systems and to supplement working capital. In terms of finances, the company achieved operating revenues of approximately 346 million yuan, 779 million yuan, 919 million yuan, and 507 million yuan in 2022, 2023, 2024, and January-June 2025, respectively. During the same period, the company recorded net profits of 53.7526 million yuan, 88.2292 million yuan, 98.4223 million yuan, and 51.418 million yuan.