Li Gao's application for IPO in the new third board has been accepted. It is a leading domestic BMS company.
On March 27th, LiGao New Energy Technology Co., Ltd. (referred to as LiGao New Energy) had its IPO on the Shenzhen Stock Exchange ChiNext board accepted. CITIC Securities is its sponsoring institution, with plans to raise 1.925 billion yuan.
On March 27, Laikang New Energy Technology Co., Ltd. (referred to as Laikangxin) has been accepted for listing on the ChiNext board of the Shenzhen Stock Exchange. China Securities Co., Ltd. is its sponsor institution, and it plans to raise 1.925 billion yuan.
According to the prospectus, the company is a leading domestic BMS enterprise, focusing on the independent research, development, production, sales, and service of BMS modules for a long time. It gradually expands its new energy management control system products, high-voltage distribution modules, as well as PCBA components, wire harnesses, and other electronic and electrical comprehensive application solutions based on BMS module business. Adhering to the philosophy of "integrity, pragmatism, dedication, and innovation," the company is committed to building core competitiveness in the field of intelligent control and core components for new energy, providing safe, stable, and efficient products and services for downstream power battery manufacturers, new energy vehicle manufacturers, and energy storage manufacturers. According to statistics from NE Era, the company ranks third in the 2024 and 2025 Shanxi Guoxin Energy Corporation passenger vehicle BMS market, with installations second only to BYD Company Limited and Contemporary Amperex Technology, and ranks first among third-party BMS manufacturers.
In terms of technical research and development, the company has mastered a series of core technologies, including battery system state estimation technology, battery full-state balance technology, battery active safety protection technology, BMS function safety and information security technology, efficient and reliable EOL test equipment development technology, new energy vehicle networked data integration application technology, new energy vehicle domain control technology for the new generation of electronic and electrical architectures, energy storage system core electronic control component integration technology, and energy control technology for microgrid energy storage systems. The company has 93 invention patents, 84 software copyrights, and has participated in the formulation of 3 national standards. According to the recognition of institutions such as the China Automotive Engineering Society, some of the company's core technologies have reached international advanced levels.
With years of industry experience, accumulated technology, and advanced intelligent manufacturing capabilities, the company has gained high recognition from customers, establishing a good brand image and market reputation in the industry. According to the 2025 global power battery installation ranking released by international research firm SNEResearch, the company's products have covered six of the top ten global manufacturers, including Contemporary Amperex Technology, LG New Energy, CALB, Gotion High-tech, Eve Energy Co., Ltd., and Honeycomb Energy. According to the 2025 ranking of Shanxi Guoxin Energy Corporation's vehicle sales in China released by the China Association of Automobile Manufacturers, the company's products have been finally applied to eleven of the top fifteen manufacturers, including GEELY AUTO, SAIC Motor Corporation, Chongqing Changan Automobile, Dongfeng Motor, CHERY AUTO, LEAPMOTOR, FAW Group, Guangzhou Automobile Group, Xiaopeng Auto, Great Wall Motor, and BAIC Group. Additionally, the company actively expands its overseas market and has established business cooperation relationships with internationally renowned carmakers and battery manufacturers such as Volkswagen, Stellantis, and LG New Energy.
As a leading domestic BMS enterprise, the company is actively serving the country's energy security and technology self-reliance strategy, continuously improving the autonomous controllability of battery management systems through overcoming core algorithms and enhancing the security of the key components supply chain, effectively ensuring the resilience and security of the national strategic industrial chain. Leveraging China's "long suit" advantage in the global new energy industry, the company has formed deep synergy with leading battery and new energy vehicle enterprises, optimizing global leading battery system efficiency and safety standards through collaborative innovation and standards leadership, and consolidating and expanding China's international competitive advantage and discourse power in the new energy industry system from the perspective of key components.
The use of the funds raised in this offering is as follows:
Financially, in the fiscal years 2022, 2023, 2024, and January to September 2025, the company achieved operating income of approximately 559 million yuan, 803 million yuan, 1.633 billion yuan, and 1.916 billion yuan respectively. During the same period, net profits were approximately 90.689 million yuan, 96.259 million yuan, 160 million yuan, and 212 million yuan respectively.
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