Bo Liwei (688345) is listed on Science and Technology Innovation Board today at a price of 25.91 yuan per share and a price-to-earnings ratio of 22.15 times earnings, according to an announcement by the Shanghai Stock Exchange. As of 11:30 today's close, Boliwei shares reached 85 yuan per share, up 228.06%.
Boliwei plans to raise 440 million yuan in this IPO, of which 316 million yuan is used for light vehicle lithium-ion battery construction project, 51.5081 million yuan is used for R & D center construction project, 31.9424 million yuan is used for information management system construction project, and 40 million yuan is used to supplement liquidity.
It is reported that Boliwei's main products include lithium-ion battery packs and lithium-ion batteries. Since 2017, through the acquisition of Cade New Energy, the company has been involved in the field of lithium-ion batteries and gradually used its own cells in the production of various types of battery packs. Among them, lithium-ion battery pack is mainly used in the field of electric light vehicles such as electric bicycles and electric motorcycles, consumer electronics fields such as notebook computers, automobile emergency start power supply, mobile power supply, and portable energy storage; lithium-ion batteries are partly used in their own battery products, and some are sold to other battery pack manufacturers and power tool manufacturers.
At present, Bo Liwei 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 and Xinri shares (603787.SH), and has successfully developed Qiulong Technology and other electric off-road motorcycle customers.
Financial data show that from 2018 to 2020, Boris's main business income mainly comes from light vehicle lithium-ion batteries, consumer electronics batteries and lithium-ion batteries, with a combined sales income of 865 million yuan, 931 million yuan and 1.297 billion yuan respectively, accounting for 98.12%, 98.46% and 96.06% of the main business income, respectively.
Recently, research institutions EVTank, Ivy Economic Research Institute and China Battery Industry Research Institute jointly released the White Paper on the Development of China's Electric two-wheeled vehicle Industry (2021). According to the statistics of the white paper, the total production of electric two-wheeled vehicles in China was 48.34 million in 2020, an increase of about 27.2% over the same period last year, and the cumulative social ownership has reached 340 million. In 2020, shipments of lithium-ion batteries for electric two-wheeled vehicles in China reached 10.7 GWH, an increase of 91.1% over the same period last year. It is estimated that by 2025, the demand for lithium-ion batteries for electric two-wheeled vehicles will reach 45.9Gwh.
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