Tianbo Intelligent submits IPO registration to the Shanghai Stock Exchange, as a well-known manufacturer of automotive thermal management system components.

On June 18, Tianbo Intelligent Technology (Shandong) Co., Ltd. (referred to as Tianbo Intelligent) applied for the change in IPO review status of the Shanghai Stock Exchange Main Board to "submitted for registration". China Securities Co., Ltd. is its sponsor, aiming to raise 20.57 billion yuan. According to the prospectus, Tianbo Intelligent is a well-known manufacturer of automotive thermal management system components in the industry, and has expanded its business to include automotive acoustic components. The company's main products are mainly used in the automotive field. With decades of industry experience and accumulation, the company's customers cover most domestic mainframe manufacturers, and it has extensive and high-quality customer resources and strong brand influence. By 2025, the top ten car companies in China in terms of sales volume are the company's current customers. In non-automotive fields such as energy storage and AI data center servers, the company's thermal management products have also been expanded in recent years, establishing cooperation with some well-known companies in the industry. The company has long been deeply engaged in the field of automotive temperature control components represented by thermostats and smart water valves, automotive sensing components represented by temperature sensors, and automotive sound components represented by AVAS products, with outstanding industry and market positions. The company's main products include temperature control, sensor, sound, and switch components. In addition, the company also operates a small number of automotive spring and valve components to meet the needs of customers for one-stop procurement. According to the certification of the China Association of Automobile Manufacturers, in their statistics, in 2024, the company's automotive thermostats and temperature sensor products ranked first and fourth in domestic sales respectively; according to Frost & Sullivan's research, in 2024, the company's automotive thermostat revenue ranked third globally and first domestically, and the sales revenue of the company's automotive smart water valve, temperature sensor, and AVAS products respectively ranked second, fourth, and second domestically in 2024. Furthermore, the company is one of the drafting units for industry standards for four products including paraffin thermostats and automotive temperature sensors, and national standards for three products including AVAS. The funds raised from this public offering of new shares will be invested in the following projects according to urgency: Financially, the company achieved operating income of approximately 1.27 billion yuan, 1.69 billion yuan, and 1.96 billion yuan in 2023, 2024, and 2025 respectively; during the same period, net profits were approximately 117 million yuan, 332 million yuan, and 361 million yuan respectively.