Prime Highlights-
- TEMB raised RMB1.88 billion in its Shanghai listing, with shares jumping over 51% on debut day.
- GF Law and DeHeng Law Offices provided legal counsel, with China Securities acting as listing sponsor.
Key Facts-
- TEMB ranks first in China and third globally for automotive thermostat revenue, per Frost & Sullivan.
- Listing proceeds will fund production expansion, a new R&D centre, and information systems upgrades.
Background-
Automotive parts maker TEMB Intelligent Technology raised about RMB1.88 billion (USD280 million) after listing on the Shanghai Stock Exchange’s main board on 7 September. GF Law Firm and DeHeng Law Offices handled legal work on the deal.
TEMB sold 30 million shares at RMB62.65 each. Shares opened at RMB94.69 on the first trading day, up 51.14% from the issue price, pushing the company’s market value past RMB10 billion.
Major industrial investors joined the offering, including SAIC Motor Financial Holdings, Chery Technology and Sungrow Power Supply. Institutional backers included the National Social Security Fund and the Basic Pension Insurance Fund. China Securities served as listing sponsor.
GF Law represented TEMB, with partners Xu Pingwen, Yao Sijing and Shen Yinbing on the deal team. DeHeng acted as special counsel for the strategic placement, with partner Sun Yanli signing on behalf of the firm.
Founded in 2001 and based in Shandong, TEMB makes components for automotive thermal-management systems, including thermostats, intelligent water valves, and temperature and pressure sensors. Its parts serve combustion, hybrid and electric vehicles. Research firm Frost & Sullivan ranked TEMB first in China and third worldwide for automotive thermostat revenue in 2024.
TEMB plans to use the listing proceeds to expand production, build a research centre, and upgrade its information systems.
