The launch of WORLD Agricultural Machinery

——China Securities Regulatory Commission resumes the registration process for the listing and issuance of Wode Agricultural Machinery
At a time when many industry insiders believe that the listing of Jiangsu Wode Agricultural Machinery Co., Ltd. is hopeless, there has finally been further news recently.

According to the information disclosed on June 30 by the Shenzhen Stock Exchange on the disclosure of the information on the issuance and listing review, as the issuer has completed the update of financial information, the CSRC has resumed the issuance registration procedure of Jiangsu Wode Agricultural Machinery Co., Ltd. in accordance with the relevant provisions of Article 30 of the Administrative Measures for the Registration of Initial Public Offering Shares.

On January 6th of this year, the Shenzhen Stock Exchange disclosed that due to the issuer's completion of financial information updates, in accordance with the relevant provisions of Article 29 of the "Measures for the Registration and Administration of Initial Public Offerings of Stocks on the Growth Enterprise Market (Trial)", the China Securities Regulatory Commission has resumed its issuance registration procedures. Subsequently, on March 31st, it was revealed that Jiangsu Wode Agricultural Machinery Co., Ltd. had expired the validity period of the financial information recorded in the IPO registration application documents and needed to be supplemented. According to the relevant provisions of Article 30 of the "Administrative Measures for the Registration of Initial Public Offerings of Stocks", its issuance registration process was suspended.

Haitong Securities Co., Ltd. is the sponsor for the listing of Wode agricultural machinery. The estimated financing amount is 6 billion yuan.

At present, another leading enterprise in the agricultural machinery industry, Weichai Lovol Smart Agriculture, is also accelerating its listing process. Industry insiders believe that in the process of the two "Wo" going public race, who gets the listing ticket first will have some initiative in the future industry competition. It is obviously more important for Wode Agricultural Machinery, as a private enterprise, whether it can go public or raise funds first.
Since 2022, the competition between Weichai Lovol and Wode Agricultural Machinery in the field of tracked harvesters and wheeled harvesters has become increasingly fierce. Weichai Lovol has shown a significant upward trend in its market share in the tracked harvester market in the past two years (some sources say it reached 32% -34% from January to May 2023). Meanwhile, in the past two years, Wode Agricultural Machinery has also accelerated its entry into the traditional wheeled machinery market, which is dominated by Weichai Lovol and Zoomlion Agricultural Machinery.

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From 2019 to 2022, Weichai Lovol achieved operating revenue of approximately 12.56 billion yuan, 13.9 billion yuan, 17.216 billion yuan, and 17.164 billion yuan, respectively, with net profits of -93 billion yuan, 60 million yuan, 685 million yuan, and 687 million yuan.
From 2019 to the end of January June 2022, the operating revenue of Wode Agricultural Machinery was 4.626 billion yuan, 6.977 billion yuan, 9.943 billion yuan, and 4.65 billion yuan, respectively (approximately 12 billion yuan for the entire year of 2022), with net profits of 758 million yuan, 1.147 billion yuan, 1.453 billion yuan, and 304 million yuan, respectively.