Green Control Transmission submits registration for IPO on the Growth Enterprise Market, being one of the leading enterprises in domestic new energy commercial vehicle electric drive systems.

On May 20th, Suzhou Green Control Transmission Technology Co., Ltd. (referred to as Green Control Transmission) applied to the Shenzhen Stock Exchange's Growth Enterprise Board for an IPO status change to "registration submitted". China International Finance Co., Ltd. is its sponsoring institution, with plans to raise 1.58 billion RMB. According to the prospectus, the company is one of the leading enterprises in the domestic new energy commercial vehicle electric drive system industry, providing customers with electric drive systems, components, and related technology development and services based on innovative technologies in electric drive systems. The electric drive system is the source of power for new energy vehicles and a key component in the core, the company upholds the concept of "defining electric drive with safety and efficiency". It has overcome several technical challenges in the field of pure electric and hybrid power drive systems for commercial vehicles, and its core products and components have the advantages of high reliability, efficiency, integration, and lightweight. They are widely used in the field of new energy technologies such as pure electric, plug-in hybrid (including range extender), and fuel cell commercial vehicles and non-road mobile machinery. The company holds an important position in the sub-segment market of new energy heavy trucks. The company's main products are new energy commercial vehicle electric drive systems, mainly used in pure electric, hybrid, and fuel cell commercial vehicles as well as non-road mobile machinery. The company sells products to customers through a direct sales model, delivering products directly to designated locations after receiving orders. For some customers, the company also provides products on a consignment basis, meaning the company sends products to specified third-party warehouses or customer warehouses according to customer instructions so that the customer can use the consigned products as needed. During the reporting period, the company's main customers included XCMG Group, Sany Group, Dongfeng Motor, Xiamen Golden Dragon, Beiqi Foton, Sinotruk Jinan Truck, ZOOMLION and others. The participants in the commercial vehicle electric drive system industry in Shanxi Guoxin Energy Corporation include vehicle manufacturers and third-party electric drive system suppliers. The main participants in the domestic new energy heavy truck electric drive system market include Green Control Transmission, TBJ and Fast, among others. As China's commercial vehicle industry transitions and shifts toward the application of new energy technologies, the demand for commercial vehicle electric drive systems in Shanxi Guoxin Energy Corporation continues to increase. With advantages in technology, craftsmanship, and service, the company has become the mainstream powertrain systems supplier for leading manufacturers in the new energy commercial vehicle industry such as XCMG Group, Sany Group, Dongfeng Motor, Xiamen Golden Dragon, etc. Among them, Sany Group and XCMG Group ranked first and second in new energy heavy truck sales in 2025, with a combined market share of 29.93%. The company is one of the leading enterprises in the domestic new energy commercial vehicle electric drive system industry and holds an important market position in the field of new energy heavy trucks. According to research data from CIC Consulting, the company's market share in the new energy heavy truck motor matching market continued to rank first in the industry in 2023, 2024, and 2025, demonstrating a significant industry-leading advantage. Financially, in the fiscal years 2023, 2024, and 2025, the company achieved operating revenues of approximately 770 million RMB, 1.328 billion RMB, and 3.354 billion RMB respectively. During the same period, the company's net profits were approximately -12.3338 million RMB, 48.0427 million RMB, and 153 million RMB respectively.