Longteng Lighting IPO Pre-disclosure Update

On November 2, the official website of the China Securities Regulatory Commission once again disclosed the draft prospectus for the initial public offering of Longteng Lighting Group Co., Ltd. (hereinafter referred to as "Longteng Lighting" or the Company). The Company's IPO process has accelerated and entered the pre-disclosure update stage.

It is reported that Longteng Lighting's initial public offering will not exceed 40 million shares, accounting for no less than 25% of the total share capital after the issuance. The company plans to go public on the Main Board of the Shenzhen Stock Exchange, with Guotai Junan Securities as the sponsor.

The company raised RMB 600 million in this fundraising, primarily for the new Longteng Smart Industrial Park project, supplementing working capital for engineering projects, and the marketing network construction project.

Founded in 2001 and located in Gaoyou, Jiangsu—the manufacturing base for street lights in China—Longteng Lighting has become an integrated service provider for smart city lighting, featuring a "five-in-one" model encompassing product R&D, manufacturing, lighting design, project implementation, and service operations. The company's core business covers urban lighting projects, the R&D, production, and sales of lighting products, lighting design engineering, and operation and maintenance. Its products and services are mainly applied in lighting fields such as urban roads, public spaces and buildings, and cultural tourism night tours.

The draft filing shows that in the field of urban lighting projects, Longteng Lighting is one of the few companies in the industry to simultaneously hold the "Grade I Professional Contracting Qualification for Urban and Road Lighting", "Class A Specialized Qualification for Lighting Engineering Design", and "Grade I Professional Contracting Qualification for Electronics and Intelligence Engineering". The company has won a good reputation and market recognition from customers thanks to its excellent innovative design capabilities and efficient project implementation strength. The company has implemented nightscape lighting projects for major events such as the Xiamen BRICS Summit, the Qingdao SCO Summit, the Nanjing Youth Olympic Games, the Zhengzhou National Ethnic Traditional Sports Games, and the Jiangsu Provincial Horticultural Expo; it has also carried out multiple cultural tourism night tour projects, including the Wuyuan urban night tour enhancement under the "Beautiful Countryside" initiative and the "Zhan Garden", known as the First Garden of Jinling.

In the field of lighting product manufacturing, the company has always adhered to the R&D and manufacturing of street lights. Based on customer needs and combined with the regional cultural connotations of project implementation sites, it has successively developed and designed multiple series of culturally customized street lights. In recent years, the company has increased its design, R&D, and production of multifunctional smart streetlights as its core flagship products, striving to make functionality, differentiation, and technological innovation the core competitiveness of its business expansion. The company's independently developed multifunctional smart streetlight products and their integration technologies have been successfully deployed in multiple cities; the company's lighting products are also exported to regions such as the Middle East, Europe, and Africa.

Longteng Lighting stated that the company's business scale is continuously expanding, especially its product sales business, which is growing rapidly. However, the production capacity of the company's main products has nearly reached a bottleneck. To address this, the company plans to implement the new Longteng Smart Industrial Park project, with Longteng Lighting as the implementing entity.

Leveraging the company's existing mature and advanced production processes for smart lighting products, the company plans to invest RMB 338,047,000 in the "Longteng Smart Industrial Park New Construction Project" as outlined in the Longteng Smart Industrial Park plan. The project will involve constructing new factory buildings and production workshops, and purchasing main production lines for lamp poles, small component processing centers, automated sheet metal production lines, coating production lines, and supporting environmental protection facilities, thereby increasing the company's production capacity for smart lighting products. Upon completion, the project is expected to achieve an annual output value of RMB 500,000,000, helping to meet the growing market demand for smart streetlights, enhancing the company's brand benefits, and improving its profitability and overall competitiveness.