Today’s subscription: Aiteke, Hengdao Technology

Wuhu Aiteke Automotive Electronics Co., Ltd.

Sponsor Institution (Lead Underwriter): Huatai United Securities Co., Ltd.

Issuance Overview:

Company Profile:

The company is a leading provider of intelligent automotive electronic solutions, mainly engaged in the research and development, production, and sales of automotive electronic products. It also provides automotive electronic EMS and technical development services for customers, with products covering four core functional domains: body domain, intelligent cockpit domain, power domain, and intelligent driving domain.

As of the signing date of the prospectus, the company’s shareholders Wuhu Jatai and Australian Aiteke are both controlled by CHEN ZEJIAN. Wuhu Jatai and Australian Aiteke directly hold 27.77% of the company’s shares. Wuhu Jatai is an employee shareholding platform, acting as the general partner of Shuntai Investment, Botai Keqi Management, Yitai Management, Zechuang Management, and Wuhu Yitai. At the same time, Wuhu Jatai has signed an “Unanimous Action Agreement” with Shuntai Investment, Botai Keqi Management, Yitai Management, Zechuang Management, Wuhu Yitai, Shen Rong, LUO CHANGAN, and five other shareholders, agreeing to unconditionally support Wuhu Jatai’s decisions when proposing resolutions or exercising voting rights. Wuhu Jatai indirectly controls 6.59% of the voting rights through these unanimous action relationships. As of the signing date of the prospectus, Wuhu Jatai and Australian Aiteke together control 34.36% of the voting rights, making them joint controlling shareholders of the company.

As of the signing date of the prospectus, the actual controller CHE ZEJIAN controls a total of 46.15M shares, accounting for 34.3617% of the total shares, with a control ratio exceeding 30%.

CHEN ZEJIAN: Chinese name Chen Zejian, a Chinese national of Australian nationality, born in February 1964, holds permanent residence in China.

As of the signing date of the prospectus, the concerted action persons of the controlling shareholder are Shuntai Investment, Botai Keqi Management, Yitai Management, Zechuang Management, Wuhu Yitai, Shen Rong, and LUO CHANGAN.

Aiteke disclosed in its IPO prospectus on March 27, 2026, that it plans to raise 1,500 million yuan to fund projects including an annual production of 5 million automotive electronic units, expansion of Botai Keqi’s automotive electronic manufacturing base, construction of Aiteke’s R&D center, construction of Botai Keqi’s R&D center, and to supplement working capital.

Aiteke disclosed in its IPO announcement on April 3, 2026, that based on the issuance price of 33.49 yuan per share and the issuance of 44.772665 million new shares, if the offering is successful, the company is expected to raise a total of 1,499.4366 million yuan. After deducting issuance costs of 140.2921 million yuan (excluding VAT), the net proceeds are expected to be 1,359.1444 million yuan.

Zhejiang Hengdao Technology Co., Ltd.

Sponsor Institution (Lead Underwriter): Guotai Haitong Securities Co., Ltd.

Issuance Overview:

Company Profile:

The company is a high-tech enterprise specializing in the research, design, production, and sales of hot runner systems and related components for injection molds. Its main product is the hot runner system, a core heating component system in hot runner injection molds, widely used in automotive lighting, interior and exterior automotive trim, 3C consumer electronics, and other fields.

The company’s controlling shareholder and actual controller is a natural person, Wang Hongchao, who directly holds 69.20% of the shares. His controlled companies Shaoxing Houfu and Shaoxing Houwu hold 5.40% and 3.90% of the shares respectively. Wang Hongchao controls 78.50% of the voting rights through direct and indirect shareholding.

Hengdao Technology disclosed in its 2026 April 2 prospectus that it plans to raise 403.0166 million yuan for projects including a production line of 30k hot runner systems annually, R&D center construction, and working capital supplementation.

Hengdao Technology also disclosed in its April 2, 2026, announcement for a public offering to unspecified qualified investors listed on the Beijing Stock Exchange that, if successful, the company expects to raise a total of 46.15M yuan. After deducting issuance costs of 44.4534 million yuan (excluding VAT), the expected net proceeds are 240.6906 million yuan.

( Editor: Cai Qing )