[{"_1":2,"_84":-5,"_85":-5},"loaderData",{"_3":4,"_6":7},"root",{"_5":-5},"user","routes/tag.$slug",{"_8":9,"_73":74,"_81":76,"_82":64,"_83":65},"posts",[10],{"_11":12,"_13":14,"_15":16,"_17":18,"_19":20,"_21":22,"_23":24,"_25":26,"_27":28,"_29":30,"_31":32,"_33":-5,"_34":35,"_36":37,"_47":48,"_66":67,"_68":69,"_70":71,"_72":32},"documentId","pnpufbvuvwcew60lkerh8ql4","title","Chinese Power Battery Firm Gotion High-Tech Plans Swiss IPO","slug","chinese-power-battery-firm-gotion-high-tech-plans-swiss-ipo","excerpt","Gotion Hi-Tech, a Chinese power battery manufacturer, announced plans on Thursday to issue Global Depository Receipts (GDR) and to apply for a listing on the Swiss Stock Exchange.","content","\n

Gotion Hi-Tech, a Chinese power battery manufacturer, announced plans on Thursday to issue Global Depository Receipts (GDR) and to apply for a listing on the Swiss Stock Exchange. GDR uses the company's newly issued RMB ordinary shares (A shares) as the underlying securities.

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In order to complete the plans, the company intends to turn into an overseas offering company limited by shares according to relevant laws and regulations, issuing GDRs to investors who meet relevant conditions according to the terms and conditions set out in the GDR Prospectus.

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Gotion Hi-Tech said the funds to be raised from the GDR issue, after deducting the issue expenses, are intended for the construction of the production base for power battery products and upstream raw materials, the steady advancement of its international layout, additional working capital and for general corporate purposes.

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Gotion Hi-Tech was established in 2006 and went public in May 2015. Its business covers new energy vehicle power batteries, energy storage, transmission and distribution equipment, including Hefei Gotion High-Tech Power Energy Co., Ltd., Industrial Research Institute, Capital Center and Dongyuan Electrical.

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The firm's financial report from April suggests that Gotion Hi-Tech earned 10.356 billion yuan ($1.55 billion) in 2021, a record high. In Q1 this year, its revenue reached 3.916 billion yuan, a year-on-year increase of 203.14%.

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Gotion Battery's production and sales are booming, and it is widely recognized by the market as the main contributor to performance. The report shows battery shipments in 2021 reached 16GWh, doubling year-on-year. The company also plans to expand production capacity to over 100GWh in 2022 and 300GWh in 2025.

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In addition, Gotion Hi-Tech has been improving its client structure. It has reached strategic cooperative relations with Geely, Leapmotor, WM Motor, Bosch, Tata, Ebusco, Volkswagen, Vinfast and others.

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The company's overseas business has also maintained a rapid development trend in recent years. The report shows that overseas revenue increased by 232.58% to 528 million yuan in 2021. Overseas revenue accounted for 5.1% overall.

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Tag: #Swiss IPO

Chinese Power Battery Firm Gotion High-Tech Plans Swiss IPO