Leadrive Technology (SHANGHAI) Co., Ltd. HKEX IPO Application Lapsed Upon Expiry, Ranking No.1 in Main Drive Power Brick Market
NewTimeSpace News: The listing application submitted by Leadrive Technology (SHANGHAI) Co., Ltd. to HKEX on 2 January 2026 has lapsed upon the expiry of six months. CITIC Securities and Haitong International served as the original joint sponsors.
The Company is a technology-driven electric control solution provider serving primarily the new energy vehicle sector, capable of developing electric control solutions from scratch via forward design capabilities. It has built a layered solution portfolio covering power modules, motor controllers and power bricks. The Company took the lead in mass-producing main drive power bricks in 2021, setting the development direction for the whole industry.
As at 30 September 2025, the Company secured 50 project designations from 13 vehicle manufacturers either directly or through tier-one suppliers. Its solutions have been deployed in 82 vehicle models, among which 54 have entered mass production.
Per Frost & Sullivan statistics, measured by installation volume for the nine months ended 30 September 2025, the Company ranked third for dual-motor controllers; it took the first position in 2024 and the second position in the first nine months of 2025 for main drive power bricks; and ranked eighth in 2024 and seventh in the first nine months of 2025 for power modules.
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