Zhengyang Technology's application for listing on the Growth Enterprise Market has been under scrutiny. Its core product, urea sensors, is the top-ranking product in the Chinese market.

On May 22, Guangdong Zhengyang Sensing Technology Co., Ltd. (referred to as Zhengyang Technology) applied for a change in the status of the Shenzhen Stock Exchange's GEM listing review to "inquiry received". Huatai United Securities is the sponsor institution, with plans to raise 1.2 billion yuan. According to the prospectus, Zhengyang Technology is a global automotive component supplier dedicated to continuous innovation and development in the key field of automotive electronics, integrating research and development, production, sales, and services. Adhering to the strategic policy of "technology-driven, deep development", the company aims to expand into the new energy business field based on consolidating its leading position in the market of urea quality sensors and other products, relying on more than twenty years of core technology and precise manufacturing processes in the sensor and thermal management fields as well as a deep understanding of the global commercial vehicle industry chain. The company's main products include sensors and assembly products, new energy products, and more. The company's sensors and assembly products are widely used in road vehicles, off-road machinery, ships, and other fields. The company's urea sensors have been ranked first in the Chinese market for the past ten consecutive years according to the China Internal Combustion Engine Industry Association. The company has also become one of the few domestic suppliers to enter the international well-known host factory supporting system, and is one of the suppliers involved in the development of cutting-edge technology for customers, having obtained the qualification to supply to more than 100 host factories worldwide. The new energy products are based on the company's technology and process accumulation in various sensors and thermal management areas, mainly applied in the thermal management field of new energy vehicles and energy storage industries. During the reporting period, the company's new energy products gradually achieved mass production and were supplied in bulk to well-known enterprises such as Sany Group, Dongfeng Group, DeepBlue Technology, Wuling New Energy, Jiangxi Special Purpose Vehicle Co., Ltd., Great Wall Motor, LK Technology, and Guoxuan Aluminum. The company's revenue from the new energy business during the reporting period showed rapid growth with an average compound annual growth rate of 362.39%. Zhengyang Technology is based in China but has a global presence with production bases or subsidiaries in China, the United States, Mexico, the Netherlands, India, and Thailand. In 2025, it was recognized by the Department of Commerce of Guangdong Province as a "headquarters-type multinational company in Guangdong Province". By implementing a group operating strategy, the company continuously strengthens its ability to respond quickly to global customers and the advantage of localized customer service through the synergy of its subsidiaries in different regions around the world. In terms of finances, the company achieved operating income of approximately 2.299 billion yuan in 2023, 2.242 billion yuan in 2024, and 2.616 billion yuan in 2025; during the same period, the net profit was approximately 196 million yuan, -91.5071 million yuan, and 201 million yuan, respectively.