Tomorrow, Tesla and BYD's "little partners" will arrive!

Recently, the performance of new stocks on the Beijing Stock Exchange has remained active. This week, the average first-day increase of two newly listed stocks on the Beijing Stock Exchange was 273.61%.

Institutions have noted that, influenced by overseas situations, risk aversion has increased recently, causing the secondary new stock sector to experience intense volatility again. However, it is worth noting that some individual new stocks have also shown relatively strong, phased activity, highlighting structural opportunities in the secondary new stock sector. It is recommended to continue moderately seeking structural opportunities while managing risks.

According to current plans, three new stocks will be available for subscription next week. On Monday, March 23, Longyuan Co., Ltd., a “small giant” in automotive precision casting, is scheduled for subscription. It has a client structure of “globally renowned auto parts suppliers + vehicle manufacturers.” The company has established long-term stable cooperation with major clients, and its products are widely used by well-known global car brands including Ford, General Motors, Tesla, NIO, Leapmotor, Xiaomi, BYD, Geely, GAC, Renault, Volkswagen, Audi, Changan, Great Wall, Hyundai, Toyota, BMW, Mercedes-Benz, and Chery.

On Friday, March 27, Hongban Technology, which focuses on R&D, production, and sales of printed circuit boards (PCBs), will be available for subscription. The company’s products in mobile phone HDI mainboards are among the industry’s top in coverage and market share. It is a major supplier of HDI mainboards for eight of the top ten global smartphone brands, including OPPO, vivo, Honor, Xiaomi, Samsung, Transsion, Huawei, and Motorola.

Also on the same day, Sannrui Intelligent, a leading manufacturer of drone and robot power systems, will be available for subscription. Its downstream direct customers include well-known drone companies such as Aerospace Electronics, Zongheng Co., Ltd., Huace Navigation, and NTT Japan. According to industry research by Frost & Sullivan, based on 2024 sales, the company ranks second globally in the civil drone electric power system industry (excluding power batteries), just behind DJI Innovation.

Outlook: Overview of next week’s new stocks’ fundamentals

According to current arrangements, if there are no changes, three new stocks will be available for subscription next week (March 23-27), including one on the ChiNext, one on the Shanghai Main Board, and one on the Beijing Stock Exchange.

Monday

Longyuan Co., Ltd.:

The company specializes in R&D, production, and sales of aluminum alloy precision castings. With extensive experience in mold design and manufacturing, product casting, and precision processing, it has developed a product system centered on automotive aluminum alloy precision castings. Its products are mainly used in key areas such as automotive engine systems, new energy vehicle three-electric systems, steering systems, and thermal management systems.

According to the prospectus, Longyuan Co., Ltd. aims to achieve operating revenue of 1.026 billion yuan in 2025, an 18.05% increase year-over-year; net profit attributable to the parent company’s shareholders is expected to be 143 million yuan, an 11.33% increase.

Longyuan Co., Ltd. Prospectus

Friday

Hongban Technology:

The company focuses on R&D, production, and sales of printed circuit boards, targeting mid-to-high-end applications. It features high precision, high density, and high reliability, making it one of the industry’s companies with a high proportion of HDI board revenue capable of mass production of any interconnect HDI boards and IC substrates. The company has a complete product structure, including HDI boards, rigid boards, flexible boards, rigid-flex boards, quasi-substrate boards, and IC substrates, widely used in consumer electronics, automotive electronics, high-end displays, and communication electronics.

Hongban Technology’s prospectus states that it expects to achieve a net profit of 120 million to 125 million yuan in the first quarter of 2026, a year-over-year increase of 10.85% to 15.47%.

Hongban Technology Prospectus

Sannrui Intelligent:

The company is a leading manufacturer of drone and robot power systems, mainly engaged in R&D, production, and sales of electric power systems for drones and robots. It is actively developing eVTOL (electric vertical takeoff and landing) aircraft power systems. Since 2019, the company has been actively working on eVTOL power systems, providing scaled-down models and prototype R&D electric power systems.

Sannrui Intelligent’s prospectus states that it expects to achieve a net profit of 100 million to 118 million yuan in the first quarter of 2026, a year-over-year increase of 20.91% to 42.68%.

Sannrui Intelligent Prospectus

Author: Li Yuqi