On March 26, 2026, Shuanglin Co., Ltd. (referred to as 'Shuanglin') from Ninghai County, Ningbo City, Zhejiang Province, submitted its prospectus to the Hong Kong Stock Exchange, planning to list on the Main Board of Hong Kong. This marks its second application following the expiration of its previous filing on September 24, 2025.
Shuanglin Co., Ltd. was listed on the Shenzhen Stock Exchange on August 6, 2010, with the stock code 300100.SZ. As of the close of trading on September 24, 2025, its total market capitalization exceeded RMB 17.5 billion.
Link to Shuanglin Co., Ltd.'s prospectus:
https://www1.hkexnews.hk/app/sehk/2026/108333/documents/sehk26032601488_c.pdf
Main Business
Shuanglin Co., Ltd., established in 2000, is a globally leading manufacturer of intelligent powertrain and drivetrain components. It has become one of China’s leading automotive parts enterprises and successfully entered the global supply chain systems of internationally renowned automobile manufacturers.
According to Frost & Sullivan's data, based on revenue in 2024:
Shuanglin Co., Ltd. is the world’s second-largest supplier of Horizontal Drive Modules (HDM) for automotive seats, with a global market share of 15.1%, and the largest HDM supplier in China, holding a domestic market share of 32.8%.
Shuanglin Co., Ltd. ranks as the ninth-largest global supplier of automotive hub bearings, with a global market share of 2.2%, and the third-largest hub bearing supplier in China, with a domestic market share of 6.9%.
Shuanglin Co., Ltd. is the largest player in the global small new energy vehicle electric drive system market, with global and Chinese market shares of 6.4% and 9.5%, respectively.
Shuanglin Co., Ltd.’s product portfolio primarily includes intelligent powertrain and drivetrain components as well as interior and exterior trim. Among these, the intelligent powertrain and drivetrain components segment represents the company’s strategic focus. In addition to automotive components such as transmission parts, new energy power systems, and hub bearing parts, Shuanglin Co., Ltd. has successfully extended its product range to key components of humanoid robot transmission systems and the low-altitude economy sector, leveraging technological commonality and process compatibility.
Intelligent powertrain and drivetrain components
Transmission components, mainly including seat HDM, power seat/door motors, flexible shafts, and electronic control modules.
The product portfolio for new energy drive systems includes stators and rotors, single motors, integrated motors, and an all-in-one LRC instrument panel for new energy vehicles.
Wheel hub bearing components, with a comprehensive product portfolio, have already been mass-produced and commercialized as the 3.5th generation of wheel hub bearing products. Leveraging the technical commonality between wheel hub bearings and ball screws, Shuanglin Co., Ltd. has started research and manufacturing of ball screws for automotive applications. The company’s ball screw products for electric hydraulic braking systems (EHB) have been designated by Chenzhi Technology Co., Ltd. and are expected to begin small-scale mass production by the end of 2025. Additionally, the company is developing ball screws for electromechanical braking systems for a leading domestic new energy vehicle manufacturer. Shuanglin Co., Ltd.'s ball screw products for EMB applications are currently under development for three customers, including a leading domestic new energy vehicle manufacturer, and all such products are in the sampling and validation stages. Regarding key components for humanoid robot transmission and drive systems, Shuanglin Co., Ltd.’s product portfolio includes reverse planetary roller screws, integrated robotic linear joint modules, miniature ball screws, and more.
Interior and exterior trim
Including door panels, vertical pillars, airbags, and precision injection-molded components. With its self-established mold R&D center and strong customized design and precision injection molding capabilities, the company has developed lightweight solutions, including advanced PEEK material products. Strategically establishing production bases in Liuzhou, Chongqing, Qingdao, Ningbo, Shanghai, Guangzhou, Jingzhou, Tianjin, Shenyang, Wuhu, and Zhaoqing, the company can provide localized support to meet the needs of automotive customers across China.
Shareholder Structure
The prospectus shows that, as of September 22, 2025, prior to Shuanglin Co., Ltd.'s listing in Hong Kong, the shareholder structure was as follows:
Mr. Wu Jianbin directly holds 4.49%, Ms. Wu Weijing directly holds 0.03%, and Mr. Wu Jianbin, Ms. Wu Weijing, and Ms. Wu Xiaojing indirectly own 90%, 5%, and 5% respectively of Shuanglin Group's 44.43% stake. They act as a concert party and collectively hold 48.95%, making them the controlling shareholders.
Other A-share shareholders hold 51.05%.
Directors and senior management
Shuanglin Co., Ltd.'s board of directors consists of 10 members, including:
Four executive directors:
Mr. Wu Jianbin (Chairman of the Board and General Manager);
Mr. Zhang Zisheng (Executive Vice General Manager);
Mr. Chen Youfu (Vice General Manager, General Manager of the Bearing Division);
Mr. Ge Hai'an (Vice General Manager, General Manager of the Ornament Division);
Two non-executive directors
Ms. Cao Wen (Former Marketing Director and General Manager of the company) (Spouse of Mr. Wu Jianbin);
Ms. Wu Weijing (Former head of the Sales Center and Ornament Electromechanical Division of the company, etc.) (Sister of Mr. Wu Jianbin);
Four Independent Non-Executive Directors
Ms. Zhao Yifen (formerly known as Zhao Yanfen) (Professor at Ningbo University Law School);
Mr. Jin Ming (Professor at Zhejiang University of Finance and Economics);
Mr. Wang Minquan (Formerly employed at Ningbo Vocational and Technical University);
Mr. Li Shupai (Former CFO and Company Secretary of MERRILL Healthcare International (02327.HK)).
In addition to the executive directors, senior executives include:
Mr. Zhu Liming (Board Secretary, Joint Company Secretary);
Mr. Qian Xue Ming (Vice General Manager, Head of Powertrain Division);
Mr. Wei Yong (Vice General Manager);
Ms. Wu Huai Ying (Chief Financial Officer).
Company performance
The prospectus shows that in the past years of 2023, 2024, and 2025, Shuanglin Co., Ltd.'s revenue was RMB 4.139 billion, RMB 4.910 billion, and RMB 5.484 billion respectively, with corresponding net profits of RMB 0.82 billion, RMB 4.98 billion, and RMB 5.03 billion.
Intermediary team