Ningbo A-shares ring in this year's "first bell"

This article is reproduced from: Ningbo Evening News

Expanded to 126 companies

Ningbo’s A-share companies ring this year’s “first bell”

Bell-ringing scene. Photo by correspondent Mao Feiying

On March 31, Ningbo Longyuan Co., Ltd. (securities code 920055.BJ, hereinafter referred to as Longyuan Co.) successfully listed on the Beijing Stock Exchange. The “Ningbo A-share contingent” has expanded to 126 companies. At present, Ningbo has 155 listed companies. In addition, 8 companies are in the IPO sprint stage.

Supporting new-energy vehicles

Longyuan Co. was established in 2006 and is registered in the Beilun Dachang High-End Mould Industrial Park. It mainly focuses on the R&D and manufacturing of core components for new-energy vehicles. Its products are widely used in key areas such as automobile engine systems, new-energy vehicle “three-electrics” systems, steering systems, thermal management systems, and other critical fields.

The founder of Longyuan Co. is the company’s chairman, Lin Guodong. His wife, Tang Meiyun, serves as the company’s deputy general manager. Together, the two control 98.53% of the company’s equity as of before the issuance. After the issuance, their direct shareholding ratio combined is 52.72%.

From 2022 to 2025, Longyuan Co.’s revenue increased from RMB 519 million to RMB 1.026 billion, with a compound annual growth rate of 25.50%. Net profit exceeded RMB 100 million for four consecutive years, with a compound annual growth rate of 12.29%. Among them, in 2025 net profit was RMB 143 million, reaching the highest level in its history.

The rapid growth of the new-energy business is the main driver of Longyuan Co.’s performance growth. In 2022, the company’s revenue from components for new-energy vehicle “three-electrics” systems was RMB 38.3184 million, accounting for only 8.55%. In the first half of 2025, revenue for this business rose to RMB 154 million, accounting for 34.71%, becoming the largest single product among the company’s automotive parts products. At the same time, in this business, the OBC enclosure product (including the vehicle-mounted power integration product enclosure) has also increased its share of the global new-energy vehicle market from 1.4% in 2022 to 5.26% in 2024.

In the first half of 2025, the company’s overseas revenue accounted for 34.51% of total revenue. Among them, countries such as Mexico, Thailand, the United States, and Hungary are the main sales destinations. The company’s main export customers include BorgWarner, Taigene Group, Delta Group, ACE, and others.

In this IPO, Longyuan Co. publicly issued 17 million shares, accounting for 25% of the total share capital after the issuance. It raised RMB 560 million, which is mainly earmarked for the “New-energy vehicle three-electrics systems and lightweight automotive components production project (Phase II)” and the construction of an R&D center.

Aimed at opportunities in lightweighting development

Longyuan Co.’s chairman, Lin Guodong, has publicly stated that the company will speed up capacity release for the Phase I plant project located in the Binhai New Area of the Fenghua Economic Development Zone and accelerate the rapid production ramp-up of the Phase II project, further expanding the company’s manufacturing capabilities and creating new opportunities for securing future new orders.

It is understood that the project plans to use 70 mu of land. Among them, the Phase I project covers 39 mu and focuses on the R&D and production of new-energy vehicle “three-electrics” systems assemblies.

It is worth noting that this fund-raising project directly targets opportunities in lightweighting development.

In recent years, as new-energy vehicle makers pursue longer driving ranges, their requirements for battery capacity and high energy density have risen “in tandem.” Therefore, to reduce the vehicle’s own weight, lightweighting of automotive components has become an industry consensus, and aluminum alloy is the preferred material at this stage.

With the continuous increase in new-energy vehicle production and sales as well as penetration rates in recent years, a research study shows that the global aluminum die-casting market size is expected to grow from USD 80.2 billion in 2024 to USD 111.9 billion in 2030, with a compound annual growth rate of 5.71%.

Longyuan Co.’s chairman, Lin Guodong, said that looking to the future, the company will continue to uphold the development philosophy of “people-oriented, customer first, continuous improvement, sustainable operations,” never forgetting its original aspiration and forging ahead, rooted in Ningbo and reaching the world, striving to enhance business capabilities and service quality; craftsmanship manufacturing, hard work and determination, and opening up an even broader horizon.

Reporter: Zhang Heng Correspondent: Mao Feiying