Shengwei Electromechanical's Shenzhen Stock Exchange ChiNext board IPO "terminated". The company's main product is a film capacitor winding machine.

On March 6th, Changzhou Shengwei Electromechanical Co., Ltd. (referred to as Shengwei Electromechanical) had the IPO review status changed to "terminated" by the Shenzhen Stock Exchange ChiNext Board. This was due to Changzhou Shengwei Electromechanical Co., Ltd. withdrawing its application for IPO. According to relevant provisions of the "Stock Issuance and Listing Review Rules of the Shenzhen Stock Exchange" Article 62, the Shenzhen Stock Exchange terminated the review of its IPO. The prospectus shows that Shengwei Electromechanical is a high-tech enterprise specializing in the research and development, production, and sales of equipment for manufacturing film capacitors, dedicated to providing efficient, stable intelligent equipment, and solutions for film capacitor manufacturers. Currently, the company's products include film capacitor winding machines, metal film coating machines, and capacitor film cutting machines, as well as the sale of related equipment accessories and metal film coating processing business. At the beginning of the reporting period, the company's main product was the film capacitor winding machine, which is one of the key equipment used to manufacture the core components of film capacitors - capacitor cores. Financially, in 2020, 2021, 2022, and January-June 2023, Shengwei Electromechanical achieved operating incomes of approximately 54.8457 million yuan, 187 million yuan, 290 million yuan, and 139 million yuan respectively. During the same period, the company achieved net profits of 4.7729 million yuan, 56.2969 million yuan, 92.1256 million yuan, and 41.0108 million yuan respectively. According to the prospectus disclosure, Shengwei Electromechanical faces risks related to fluctuations in the downstream new energy industry. During the reporting period, the company's main products were film capacitor winding machines and metal film coating machines, and the downstream applications of the products have gradually expanded from industrial control, lighting, and home appliances to new energy fields such as new energy vehicles, wind/solar power generation, and energy storage. During the reporting period, the revenue from winding machines for the new energy sector accounted for a high proportion of the total main business income, at 43.92%, 65.37%, 78.89%, and 84.15% respectively. The new energy industry, such as new energy vehicles and new energy power generation, has developed rapidly with strong policy support, but if the demand were to decrease in the future due to a reduction in industry policy benefits or excessive capacity, it could have an adverse impact on the company's performance.