The 'first stock' of the Year of the Horse goes to a lighting company! Stock price surges on the first day of listing

Hooves tread on spring to start a new journey,

Capital empowerment lights a new chapter.

Lighting industry welcomes the New Year as the "No. 1 Stock" nationwide!

2月26日，常州通宝光电股份有限公司（证券简称：通宝光电，证券代码：920168）成功登陆北京证券交易所，成为2026丙午马年农历新年后全国首家上市企业。以“一马当先”的昂扬姿态，奏响了汽车照明及电子零部件产业与资本深度融合、双向赋能的新春序曲。

The company opened 82.44% higher on its IPO day, at ¥29.5 per share.

It is understood that Tongbao Optoelectronics was founded in 1991, positioning itself as a manufacturer of automotive electronic components. Its main business covers the R&D, production, and sales of automotive lighting systems, electronic control systems, energy management systems, and other automotive electronic components.

Recognized in 2022 as a national-level 'Specialized, Refined, Differential, and Innovation' (SRDI) 'Little Giant' enterprise, the company has established R&D institutions including the 'Jiangsu Province Industrial Design Center', 'Jiangsu Province Enterprise Technology Center', and 'Jiangsu Province Automotive LED Module Engineering Technology Research Center'. As a member of the China Association of Automobile Manufacturers, the company led the drafting of the industry standard 'Light-emitting diode (LED) and modules for automotive use' (QC/T1038-2016).

Sanan Optoelectronics has been deeply rooted in the industry for 35 years, establishing a business structure with automotive lighting as its cornerstone and multi-sector collaborative development. The company has long focused on automotive LED modules and LED vehicle lamps; its products are supplied to well-known OEMs and component manufacturers such as SAIC-GM-Wuling, GAC Aion, GAC Trumpchi, Dongfeng Nissan, and SAIC Volkswagen, earning a strong market reputation and brand image.

Based on the automotive lighting system business, the company drives innovation to continuously explore new automotive electronics business segments.

Main business layout:

★ Automotive lighting system: The company's largest business segment, accounting for 95.09% of revenue, covering a full range of products including LED headlight modules, drive control systems, and complete headlight assemblies. It provides comprehensive solutions from front headlights to rear taillights and turn signals, serving as a core supplier for automakers such as SAIC-GM-Wuling.

★ Electronic Control System: Focusing on core products such as the EPS controller, with mature technology and stable supply achieved. New product reserves including body domain controllers are complete, poised to become a new engine for business growth in the future.

★ Energy Management System: The CDU charging and power distribution assembly is in mass production; the charging gun product has secured project designation, precisely positioning itself in the core track of new energy vehicle charging and power distribution, aligning with the industry's electrification trend.

Tongbao Optoelectronics' IPO price was 16.17 yuan per share. The raised funds, exceeding 300 million yuan, were entirely allocated to intelligent LED modules for new energy vehicles, charging and power distribution systems, and control module projects. This will further strengthen the R&D and mass production of core components for new energy vehicle electronics, injecting strong momentum into the company's core technology upgrades and business expansion.

财务数据直观展现了公司的稳健增长态势。2022~2024年及2025年上半年，公司营收分别实现3.90亿元、5.29亿元、5.88亿元、3.29亿元，归母净利润同步攀升至3669万元、6225万元、8309万元、3345万元，连续多年保持增长态势。公司更给出2025年全年业绩预期：营收6.8亿至7.8亿元，同比增长15.69%至32.70%;归母净利润7900万至8900万元。

此次成功登陆北交所，不仅是通宝光电发展史上的重要里程碑，更是企业迈向高质量发展的新起点。作为汽车电子零部件领域的新晋上市公司，通宝光电背靠万亿汽车市场及微型车市场，手握新能源赛道核心布局，凭借深厚的技术积累、优质的客户资源和清晰的发展战略，未来发展值得市场期待。

Source material: Changzhou Release, online sources, etc., comprehensively edited and organized