A-Share Subscription | Mosentech (920162.BJ) Opens Subscription, Focused on R&D of Automotive Intelligent Opening and Closing Systems

On September 23, Mosentech (920162.BJ) opened its subscription, with an issue price of RMB 17.37 per share, a subscription cap of 765,000 shares, and a price-to-earnings ratio of 10 times. It is listed on the Beijing Stock Exchange, with Guotou Securities serving as its sponsor. According to the prospectus, Mosentech is a national-level high-tech enterprise mainly engaged in the innovative R&D and intelligent manufacturing of automotive intelligent opening and closing systems. With key opening and closing components such as automotive sunroofs and window regulators as its core products, the company has built a technical system covering the full-process development of automotive electronic control units (ECUs), and has successfully achieved independent R&D and manufacturing of intelligent sunroof control systems and modular lifting structures. Mosentech mainly serves well-known domestic automakers, providing professional automotive opening and closing components such as various automotive sunroofs and window regulators, as well as their intelligent control system solutions. The company holds a leading industry position in China's automotive sunroof sector. In terms of automotive sunroof and window regulator products, the company's main customers include well-known automakers such as Chery Holding, Chongqing Changan Automobile, SAIC-GM-Wuling, GEELY AUTO, Zhenyi Automobile, FAW Group, and Jiangling Motors Corporation. In terms of powder metallurgy components, the company mainly serves well-known domestic and international OEMs and Tier 1 automotive parts suppliers, with main customers including Pankl Group, BorgWarner INC., FAW Group, and Ningbo Shenglong. In terms of financials, for the 2023, 2024, and 2025 fiscal years, the company achieved operating revenue of approximately RMB 1.572 billion, RMB 1.956 billion, and RMB 1.924 billion, respectively; during the same periods, it recorded net profit of approximately RMB 202 million, RMB 277 million, and RMB 240 million, respectively.