The Listing Committee of the Beijing Stock Exchange have approved Changzhou Tongbao Optoelectronics’ application for an initial public offering. The company plan to be listed on the Beijing Stock Exchange.
Tongbao’s main business involves the design, research and development, production, and sales of automotive LED modules and LED vehicle lights. The funds raised are planned to be invested in projects for intelligent LED modules for new energy vehicles, power distribution systems, and control modules.
Financial data shows that the company achieved operating revenues in 2022, 2023, and 2024 of (respectively C¥390m C¥529m, and C¥588m; and net profits of C¥36.6929m, C¥62.2485m, and C¥83.0935m. In terms of growth, in 2024 the company’s operating revenue increased by 11.02 per cent, and net profit increased by 33.49 percent, year-on-year.
Tongbao plan to raise C¥330m in their IPO to fund projects for intelligent LED modules, charging and power distribution systems, and control modules for new energy vehicles. Once completed, the projects will add intelligent production lines, significantly increase the production capacity of high value-added products, and lay a solid foundation for the company’s future growth.
The company have vehicle lighting systems as their core business, and they’ve long served well-known automobile manufacturers and parts suppliers. Their lighting products have been applied to multiple popular models from brands such as SAIC-GM-Wuling, GAC Aion, GAC Trumpchi, Dongfeng Nissan, and SAIC Volkswagen.
Tongbao have established a long-term. stable partnership with SAIC-GM-Wuling, becoming a strategic core supplier. The company hold a procurement share of over 90 per cent of similar products in the LED headlight modules and drive controllers for SAIC-GM-Wuling and are the exclusive LED headlight module supplier for several of that automaker’s best-selling models.
