Suzhou Langao Motor's ChiNext IPO to Face Review on September 22, 2026

An announcement on the evening of September 16, 2026 showed that Suzhou Langao Motor Technology Co. , Ltd.' s ChiNext IPO will be reviewed at a listing meeting on September 22, 2026.

The company primarily engages in the research and development, production, sales and full-process services of high-performance permanent magnet synchronous motors. Its core products are used in new energy commercial vehicles, new energy non-road mobile machinery, wind power generation, and industrial high-efficiency energy saving and automation control, among other fields. The products feature high efficiency, high power and torque density, high reliability, low noise and wide-ranging environmental adaptability. The company's products are sold domestically and, either independently or as part of complete vehicles with original equipment manufacturers, exported to countries including Germany, France, Norway, Chile and Brazil.

Major representative customers include Sany Group, Yutong Group, Sinotruk, Tongly Heavy Industry, Lingong Group and TBEA.

By sales volume, the company's market share in China's new energy mining truck drive motor segment exceeded 70% in 2025, ranking first in the industry. Its market share in China's new energy heavy truck drive motor segment was about 28%, ranking second in the industry. The company also ranks among the industry leaders in China's new energy bus drive motor and wind power pitch motor segments.

In terms of financial data, from 2023 to 2025, the company's operating revenue was RMB 385 million, RMB 768 million and RMB 1.447 billion, respectively. In January to June 2026, the company achieved operating revenue of RMB 823 million and net profit attributable to shareholders of about RMB 86.68 million, increases of 26.20% and 46.58%, respectively, from the same period in 2025. During the same period, affected by product mix adjustments and economies of scale, the company's overall gross margin rose to 21.97% in the first half of 2026 from 19.21% for the full year 2025. Among this, the revenue share of high-gross-margin products such as buses and new energy non-road mobile machinery increased, and the release of economies of scale drove down unit labor and manufacturing costs for some products.

Among these, the new energy heavy truck segment accounted for about RMB 8.96 billion, the new energy construction machinery segment about RMB 4.46 billion, the new energy bus segment about RMB 2.37 billion and the new energy mining truck segment about RMB 1.31 billion.

While consolidating its commercial vehicle business, the company is expanding into non-commercial vehicle motor fields. In industrial high-efficiency energy-saving motors, revenue from the industrial sector grew at a compound annual growth rate of 45.70% from 2023 to 2025, and industrial sector sales revenue in the first half of 2026 increased by more than 80% from the same period in 2025. In high-speed refrigeration compressor motors, the company has been laying out the business since 2025, and its products have passed sample testing with some customers and entered the small-batch production stage. In new energy agricultural machinery motors, the company has completed the development of medium- and large-horsepower agricultural machinery motor products, completed product verification with several leading industry enterprises, and entered the small-batch supply stage. The company is focusing on the research and development of new products including high-power drive motors for eVTOL, high-efficiency high-voltage permanent magnet motor drive systems, high-speed dynamometer systems and new energy marine motors, with related products targeting fields such as the low-altitude economy, industrial high-efficiency drives, testing equipment and ship electrification.