Beijing Xinlei Energy Technology Co., Ltd.
2026 Annual Plan for Issuance of A Shares to Specific Targets: Analysis Report
Stock Code: 300593
Stock Abbreviation: Xinlei Neng
Beijing Xinlei Energy Technology Co., Ltd. (hereinafter referred to as "the Company") was listed on the ChiNext market of the Shenzhen Stock Exchange on January 13, 2017. To meet the capital needs for the Company's business development, enhance its capital strength, and improve profitability, in accordance with the "Company Law," "Securities Law," "Articles of Association," and the "Administrative Measures for the Registration of Securities Issuances by Listed Companies" (hereinafter referred to as the "Registration Measures") and other relevant laws, regulations, and normative documents, the Company plans to issue no more than 162,405,320 shares (inclusive) to specific targets on the ChiNext market. This number does not exceed 30% of the total share capital of the listed company before this issuance. The total raised funds will not exceed RMB 1,786.5824 million, intended for the construction of the Shenzhen Xinlei Manufacturing Base Project, the Beijing Motor and Controller Industrialization Project, and the replenishment of working capital.
I. Background and Objectives of the Current Issuance to Specific Targets
(I) Background of the Current Issuance to Specific Targets
1. Development of the Digital Economy Provides a Broad Market Space for the Power Supply Industry
The digital economy is the core engine of China's high-quality development. Data centers and communication networks, as the two major core infrastructures of the digital economy, jointly support the digital, intelligent, and integrated transformation and development of the entire society.
In recent years, with the gradual maturity of cloud computing and big data business models, and the large-scale implementation of generative AI models and intelligent computing centers, the global computing power scale has grown rapidly, and the market size of data centers has continued to expand. Coupled with China's 5G deep commercialization and forward-looking deployment of 6G technology, and the inclusion of satellite internet as a core supporting area of the national digital economy, the computing power and communication industries are simultaneously entering a period of scale expansion and technological upgrading, driving a rigid demand for high-efficiency, high-power-density, and high-reliability dedicated power supplies.
According to data released by Valuates Reports, the global AI server power supply market size was USD 2.846 billion in 2024 and is projected to grow to USD 60.81 billion by 2031, with a compound annual growth rate of 45.00% from 2025 to 2031. According to Headley Research, the market size of China's computing power server power supply industry is expected to grow from RMB 19.8 billion to RMB 81.4 billion from 2026 to 2030, with a compound annual growth rate of 42.39% during this period. According to the China Power Supply Society, the market size of China's communication power supply products is expected to reach RMB 23.2 billion by 2026.
2. Policy Support for the Aviation and Commercial Aerospace Industries Drives Growth in Motor Market Demand
In recent years, the state has introduced a series of supportive policies for the aviation and commercial aerospace sectors, promoting the vigorous development of these two emerging industries. Aerospace generators, servo motors, drive motors, and permanent magnet motors are the core power sources for aircraft and airborne equipment, and are key components for aviation and commercial aerospace. The development of aviation and commercial aerospace will bring significant opportunities to the motor industry in the aerospace sector. According to Growth Market Reports, the global aerospace motor market size was USD 2.17 billion in 2024 and is projected to reach USD 4.68 billion by 2033, with a compound annual growth rate of 8.91% from 2024 to 2033. According to Verified Market Reports, the global aerospace motor market size was USD 9.12 billion in 2025 and is projected to grow to USD 21.98 billion by 2034, with a compound annual growth rate of 10.27% from 2025 to 2034.