Automotive LED company Tongbao Optoelectronics’ IPO enters inquiry stage

On May 28, the official website of the Beijing Stock Exchange showed that the IPO project of Changzhou Tongbao Optoelectronics Co., Ltd. (hereinafter referred to as "Tongbao Optoelectronics") has entered the inquiry stage.

Tongbao Optoelectronics is an enterprise specializing in the research and development, production and sales of automotive electronic components. Its products mainly cover the three major fields of automotive lighting systems, electronic control systems and energy management systems. Among them, automotive lighting systems are the company's core business, and have long-term services for well-known vehicle and parts manufacturers such as SAIC-GM-Wuling, GAC Aion, Dongfeng Nissan, and SAIC Volkswagen.

While consolidating its core business, Tongbao Optoelectronics continues to expand into emerging areas. Relying on the EPS controller, the company has entered the electronic control system market and continues to promote the research and development of new products such as body domain controllers.

In terms of energy management systems, in 2024, the CDU charging and distribution assembly that the company focused on research and development has achieved mass production, and the charging gun product has also received project designation. In the future, it will continue to make efforts in product specification optimization and business expansion.

Image source: Paixin.com genuine gallery

According to the disclosure, the total amount of funds raised in this IPO is planned to be 330 million yuan, and the funds will mainly be used for new energy vehicle intelligent LED modules, charging and distribution systems and control module projects.

Financial data shows that from 2022 to 2024, Tongbao Optoelectronics’ operating income was 390 million yuan, 529 million yuan and 588 million yuan respectively, and its net profits were 36.6929 million yuan, 62.2485 million yuan and 83.0935 million yuan respectively.

It is worth mentioning that Tongbao Optoelectronics’ listing process was not smooth sailing. As early as 2018, the company had planned to IPO on the GEM and planned to raise 326 million yuan to invest in automotive LED projects, but it voluntarily withdrew its application on the eve of the meeting.

After the establishment of the Beijing Stock Exchange, Tongbao Optoelectronics signed a coaching agreement with Industrial Securities in December 2022. However, due to strategic adjustments, the two parties terminated their cooperation in November 2023. In June 2024, the company applied for an IPO again, but withdrew it only a week later due to "financial report validity period factors." (Compiled by LEDinside)

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