Good Electric Material is about to go public, the first new stock on the Growth Enterprise Market this year is here

The first new stock on the ChiNext Board in 2026 is coming! According to the plan, Gude Electric Materials (301680) will be listed on the ChiNext Board on March 6. From a fundamental perspective, in recent years, Gude Electric Materials has maintained steady growth in revenue and net profit. According to Tonghuashun iFinD statistics, with Gude Electric Materials listing on the A-share market, the number of new A-share listings this year will also increase to 20.

As the first new stock on the ChiNext Board this year, Gude Electric Materials will officially list on the A-share market on March 6. The company focuses on the research, production, and sales of thermal runaway protection components for new energy vehicle power batteries and electrical insulation products. The issuance price is 58 yuan per share; the total amount of funds raised is 1.201 billion yuan, with a net fund amount of 1.082 billion yuan after deducting issuance costs.

The prospectus shows that after deducting issuance expenses, all the funds raised by Gude Electric Materials will be used for the annual production of 7.25 million sets of new energy vehicle thermal runaway protection materials and components, R&D projects, the construction of the Maca Power Battery Thermal Runaway Protection Material Production Base in Luhe, and to supplement working capital.

In terms of performance, in recent years, Gude Electric Materials has seen steady annual growth in revenue and net profit. Specifically, from 2022 to 2024, the company’s operating income was approximately 475 million yuan, 651 million yuan, and 908 million yuan, respectively; corresponding net profits attributable to shareholders were about 64.06 million yuan, 100 million yuan, and 172 million yuan. In 2025, the company achieved an operating income of about 1.106 billion yuan, a year-on-year increase of 21.79%; net profit attributable to shareholders was approximately 179 million yuan, a year-on-year increase of 4.3% (audited).

Additionally, Gude Electric Materials expects to achieve operating income of 340 million to 370 million yuan in the first quarter of 2026, a year-on-year increase of 41.41% to 53.89%; and net profit attributable to shareholders of about 48.2 million to 51.2 million yuan, a year-on-year increase of 0.05% to 6.28%.

“Development prospects in the field of thermal runaway protection for power batteries and electrical insulation products are broad and relatively certain,” Yuan Shuai, Deputy Secretary-General of the Zhongguancun IoT Industry Alliance, told Beijing Business Today. Against the backdrop of rapid growth in new energy vehicle ownership, thermal runaway protection has become a core safety requirement for vehicles, while electrical insulation products benefit from the dual drivers of grid smartification and energy storage industry expansion.

Behind the continuous growth in performance, Gude Electric Materials has a relatively high proportion of overseas sales revenue. The prospectus shows that from 2022 to 2024 and the first half of 2025, the company’s main business revenue accounted for over 97% of total operating income; among them, export sales accounted for 15.5%, 28.82%, 44.29%, and 39.28%, respectively.

Regarding these issues, Beijing Business Today sent an interview letter to Gude Electric Materials. The company responded, “Please refer to the published listing announcement.”

According to Tonghuashun iFinD statistics, prior to Gude Electric Materials, 19 A-share stocks have been listed since 2026. In terms of sector distribution, among these 19 stocks, the Beijing Stock Exchange had the most new listings this year with 10; the STAR Market and Shanghai Main Board each had 4; and the Shenzhen Main Board only saw 1 new stock listed this year.

Looking at the first-day price changes of these 19 stocks, the top performer was Electric Sky Blue with a 596.3% increase; Kema Materials and Hengyun Chang both rose over 300% on their first trading day; Zhixin Shares increased over 200%; additionally, North Chip Life, Aide Technology, and others saw their stock prices double on the first day.

Furthermore, it is worth mentioning that according to the schedule, Hongming Electronics on the ChiNext Board will start subscription on March 16, and if the issuance proceeds as planned, the company may become the second ChiNext stock to list this year.