Suzhou Tianmai submits IPO registration, with a large number of leading enterprise customers such as Huawei and Samsung.

On March 12th, Suzhou Tianmai Thermal Technology Co., Ltd. (referred to as Suzhou Tianmai) applied for a change in the status of its IPO review on the Shenzhen Stock Exchange's Growth Enterprise Market to "submitted for registration." Guotou Securities is its sponsoring institution, and it plans to raise 394.91 million yuan. According to the prospectus, since its establishment, Suzhou Tianmai has always focused on the research and application of thermal management products, aiming to become a leading provider of overall thermal management solutions in the industry. Its main products include heat pipes, heat spreaders, thermal interface materials, graphite films, etc., which are widely used in consumer electronics such as smartphones, laptops, as well as in the fields of security monitoring devices, automotive electronics, communication equipment, etc. As one of the few high-tech enterprises in the industry with mass production capabilities for both high-end thermal conductivity materials like heat pipes and heat spreaders, Suzhou Tianmai is at a relatively high level in terms of R&D capabilities, process level, product performance, and market share. It has also established a high brand influence and visibility in the field of thermal management. After years of accumulation in the field of thermal management, the company has a large number of leading enterprise customers in downstream industries, including Samsung, Huawei, Honor, OPPO, vivo, Motorola, Hangzhou Hikvision Digital Technology, Zhejiang Dahua Technology, Contemporary Amperex Technology, Foxconn, and Xgimi. Currently, Suzhou Tianmai can mass-produce heat pipes and heat spreaders with a minimum thickness of 0.3mm and 0.22mm respectively, with a heat transfer rate of over 5W. All internal core capillary structures are independently produced, and its process technology is at a relatively high level compared to the industry. Financially, in the first half of 2020, 2021, 2022, and 2023, Suzhou Tianmai achieved operating incomes of approximately 406 million yuan, 708 million yuan, 841 million yuan, and 451 million yuan respectively. During the same period, the company achieved net profits of 53.21 million yuan, 64.53 million yuan, 117 million yuan, and 65.92 million yuan respectively.