The first meeting of Boli Weike Chuangban IPO ranked among the top three in the country in terms of lithium battery shipments for light vehicles.

SMM: November 4, according to Kechuang board listing committee announcement, Guangdong Bo Liwei Technology Co., Ltd. (hereinafter referred to as: Bo Liwei) the first meeting. The IPO, company intends to raise a total of about 440 million yuan, which will be used for light vehicle lithium-ion battery construction projects, R & D center construction projects, information management system construction projects and supplementary liquidity.

It is reported that Boliwei has been involved in the field of lithium-ion batteries since 2017 through the acquisition of Cade New Energy, and has gradually used its own batteries in the production of various types of battery packs.

According to the conference draft, in the field of lithium-ion batteries for light vehicles, the company has grown into one of the largest manufacturers in China, ranking among the top three in shipments and accumulating a number of high-quality customer resources in domestic and foreign markets. At present, the company has established stable cooperative relations with foreign well-known electric bicycle customers such as Prophete in Germany, EUROSPORT in Romania, EBComponent in Denmark, and Manufacture Francaise in France, and has become a qualified supplier of domestic well-known electric two-wheeler companies such as Mavericks Electric (NIU.O), Yadi Holdings (01585.HK), Emma Technology, Xinri Stock (603787.SH), and successfully developed Qiu long Technology and other electric off-road motorcycle customers.

Bo Liwei's main business income mainly comes from light vehicle lithium-ion batteries, consumer electronics batteries and lithium-ion batteries. In 2017-2019 and the first half of 2020, the combined sales income of the three was 670 million yuan, 865 million yuan, 931 million yuan and 495 million yuan respectively, accounting for 99.61%, 98.12%, 98.46% and 98.17% of the main business income, respectively.

Among them, from 2017 to 2019 and the first half of 2020, Boliwei's sales revenue in the European market was 104 million yuan, 190 million yuan, 281 million yuan and 182 million yuan respectively, mainly for the sale of supporting lithium-ion battery packs to European electric bicycle manufacturers.

In addition, Boliwei expects operating income from January to September 2020 to be 935 million yuan, an increase of 32.75% over the same period last year; net profit attributable to parent shareholders is expected to be 87.1378 million yuan from January to September 2020, an increase of 77.47% over the same period last year; net profit attributable to parent shareholders after deducting non-recurring profits and losses is expected to be 84.9264 million yuan, an increase of 73.46% over the same period last year.