Next week there are 3 new IPO subscriptions coming up — the drone power system leader is here!

According to the current issuance schedule, three new stocks will be available for subscription next week, with one each from the Beijing Stock Exchange, Shanghai Main Board, and ChiNext.

On the schedule, on Monday (March 23), you can subscribe to Longyuan Co., Ltd. on the Beijing Stock Exchange. On Friday (March 27), you can subscribe to Hongban Technology on the Shanghai Main Board and Sanrui Intelligent on the ChiNext. Among them, Sanrui Intelligent is a leading domestic enterprise in drone power systems.

Longyuan Co., Ltd. is a “small giant” enterprise specializing in precise aluminum alloy die-cast parts for automobiles.

The offering price is 24.7 yuan per share, with an issuance P/E ratio of 14.99 times.

The company focuses on R&D, production, and sales of aluminum alloy precision die-cast parts, establishing a product system centered on automotive aluminum alloy precision die-cast parts. Its products are widely used in key areas such as new energy vehicle three-electric systems, engine systems, steering systems, and thermal management systems. It is a nationally recognized “Little Giant” enterprise in specialized and innovative small and medium-sized enterprises.

Longyuan has built a dual-driven customer structure of “globally renowned first-tier auto parts suppliers + leading vehicle manufacturers.” The company has established long-term stable partnerships with industry giants such as BorgWarner, Garrett, Marelli, Flex, and Nidec, while also deeply binding with independent brands like Leap Motor and Great Wall Motors.

In terms of performance, in 2023, 2024, and 2025, Longyuan’s revenue is projected to be 699 million yuan, 869 million yuan, and 1.026 billion yuan, respectively, with net profits of 126 million yuan, 128 million yuan, and 143 million yuan.

Hongban Technology is a domestic manufacturer of mid-to-high-end printed circuit boards (PCBs).

The company plans to issue 100 million shares publicly, with a maximum online subscription limit of 21,000 shares. To subscribe at the maximum, investors need a Shanghai market value of 210,000 yuan.

Hongban Technology specializes in the R&D, production, and sales of printed circuit boards (PCBs), targeting the mid-to-high-end application market. Its products feature high precision, high density, and high reliability. It is one of the companies with a high proportion of HDI board revenue in the industry, capable of mass production of any interconnect HDI boards and IC substrates.

Its products are widely used in consumer electronics, automotive electronics, high-end displays, and communications electronics, with significant competitive advantages and market positions in consumer electronics and automotive electronics. In consumer electronics, the company has long-term stable partnerships with OPPO, vivo, and Honor; in automotive electronics, it maintains close cooperation with BYD; in high-end displays, it has stable collaborations with Zhaochi and Zeming Technology, leading companies in the LED display industry.

In terms of performance, in 2023, 2024, and 2025, Hongban Technology’s revenue is expected to be 2.34 billion yuan, 2.702 billion yuan, and 3.677 billion yuan, with net profits of 105 million yuan, 214 million yuan, and 540 million yuan.

Sanrui Intelligent is a leading domestic enterprise in drone power systems.

Sanrui Intelligent plans to issue 40.01 million shares publicly, with a maximum online subscription limit of 6,000 shares. To subscribe at the maximum, investors need a Shenzhen market value of 60,000 yuan.

Sanrui Intelligent is an industry-leading manufacturer of drone and robot power systems, mainly engaged in the R&D, production, and sales of drone electric power systems and robot power systems. It is actively developing eVTOL (electric vertical takeoff and landing) aircraft power systems. Its downstream clients include well-known companies in the drone field such as Aerospace Electronics, Zongheng Co., Ltd., Huace Navigation, and NTT Japan.

According to the industry research report by Frost & Sullivan, based on 2024 sales, Sanrui Intelligent holds a 7.1% share of the global civil drone power system (excluding batteries) market, ranking second only to DJI Innovation.

In terms of performance, in 2023, 2024, and 2025, Sanrui Intelligent’s revenue is projected to be 534 million yuan, 831 million yuan, and 1.075 billion yuan, with net profits of 172 million yuan, 333 million yuan, and 421 million yuan.

(Source: China Securities Journal)