A-share subscription | Yikun Electric (920222.BJ) launches subscription, the only domestic company with full certification for all three lightning arresters from CRCC.

On June 22, Yikun Electric (920222.BJ) started its subscription, with an issue price of 10.09 yuan per share, a subscription limit of 578,100 shares, and a price-earnings ratio of 14.98 times. It belongs to the Beijing Stock Exchange, with Industrial as its sponsoring institution. According to the prospectus, Yikun Electric is a national-level "specialized, refined, distinctive, and innovative" small giant enterprise specializing in comprehensive solutions for insulation, overvoltage protection, and online monitoring in the field of rail transit and power systems. The company was selected for the Ministry of Industry and Information Technologys list of "key small giant" enterprises (first batch, first year), with its main products including surge arresters, insulators, fuses, and online monitoring devices and systems. The company is a leading enterprise in China for surge arresters and insulators used in high-speed EMUs and electric locomotives, with products characterized by high performance, reliability, and wide application in the Harmony and Fuxing series EMUs. In the field of rail transit, the company has achieved self-research and production of core components such as high-performance resistor chips, composite insulating materials, surge arresters, and insulators, as well as end products based on independently developed materials, structures, and manufacturing processes. This has established the company's leading technological strength and market position in the segmented market of rail transit. The company has obtained international IRIS certification and is currently the only enterprise in China to have CRCC (China Railway Certification Center) certification for all three surge arrester products. It is a long-term supplier to leading rail transit enterprises such as CRRC Corporation, China Railway Group, and China Railway. The company's surge arresters for power systems are mainly used in AC gapless metal oxide surge arresters for transformers, transmission lines, switchgears, and other power systems. The products are characterized by small size, light weight, and pollution resistance, and are widely sold to over 30 countries and regions worldwide. Due to significant differences in power system standards in different regions abroad, the company can quickly respond to customer needs and provide a complete range of surge arrester 1-1-78 products that meet their electrical standards, leveraging over thirty years of experience in overvoltage protection equipment. The company continues to carry out research and development innovation, with railway arm products jointly developed with China Railway Design Group Co., Ltd. exhibiting characteristics of simplification, standardization, and lightweight. Railway arms can be used in new line construction, old line upgrades, emergency repairs, and other areas, with a considerable market potential. Currently, the product is undergoing on-track testing in railway lines. Regarding highway arm products, there are wide applications in electrified highways such as harbor roads, coal transport corridors, freight corridors, and dense passenger routes. The company has independently developed an intelligent monitoring device for vehicle surge arresters, enabling intelligent monitoring, risk warning, and status evaluation of vehicle surge arresters. The company is a member of the national surge arrester and insulator Standardization Committee and the thunderstorm protection Standardization Committee, actively participating in the drafting of national and industry standards such as "AC gapless metal oxide surge arresters" and "surge arrester product model compilation method." The company has been awarded several prizes such as the "2024 Sichuan Province Science and Technology First Prize," "2024 China Electric Technology Society Science and Technology Progress Award Special Prize," "2024 Zhejiang Province Science and Technology Progress Third Prize," "2024 Machinery Industry Scientific and Technological Invention Award Third Prize," "2023 Beijing Science and Technology Award Second Prize," "2023 China Electric Technology Society Science and Technology Progress Award Second Prize," and "2020 China Railway Society Science and Technology Award First Prize." The company's products have been applied in key and first batch projects in the national railway, intercity/regional, and urban rail transit fields. In the overseas sales field, the company has obtained certifications from international authoritative bodies such as the Netherlands KEMA, ranking among the top five in export value for two consecutive years. The products are widely sold to over 30 countries and regions globally, maintaining long-term stable cooperation with international electrical equipment giants such as Italy's BONOMI Group and the United States' SIEMENS Group. In terms of finances, the prospectus shows that in 2023, 2024, and 2025, the company achieved operating revenues of approximately 284 million yuan, 339 million yuan, and 373 million yuan, respectively; and net profits attributable to the owners of the parent company were approximately 42 million yuan, 54 million yuan, and 59 million yuan, respectively.