- WeLion's pre-IPO tutoring will proceed in three phases, expected to take several months to complete.
- Founded in 2016 and headquartered in Beijing, WeLion is best known as a supplier of semi-solid-state batteries to Nio.
Beijing WeLion New Energy Technology, the semi-solid-state battery supplier for Nio Inc (NYSE: NIO, HKG: 9866), has initiated pre-IPO (initial public offering) tutoring work, targeting a domestic stock market listing.
WeLion plans to list on the ChiNext stock market, China's Nasdaq-style board for growth enterprises, with domestic investment bank China Securities assisting the effort, according to documents on the China Securities Regulatory Commission website.
The pre-IPO tutoring agreement was signed on December 8, per the documents. The process will advance in multiple phases and is expected to take several months.
Founded on August 11, 2016, and headquartered in Beijing, WeLion is best known as a semi-solid-state battery supplier to Nio.
Nio unveiled the 150-kWh semi-solid-state battery during the ET7 sedan launch at Nio Day 2020 on January 9, 2021.
WeLion delivered its first batch of 360 Wh/kg semi-solid-state battery cells to Nio on June 30, 2023, for use in the 150-kWh battery pack. After multiple delays, the battery pack entered service in June 2024, albeit in limited quantities.
The battery manufacturer's products are also used in drones, robots, portable power supplies, and energy storage systems, according to its website.
WeLion's pre-IPO tutoring will proceed in three phases. The first phase focuses on financial compliance, optimizing corporate operations, and analyzing competitive advantages and sustainable business capabilities.
The second phase centers on training personnel to understand laws related to stock issuance and listing, operational standards for public companies, and responsibilities regarding information disclosure and commitment fulfillment.
The third phase involves preparing IPO application documents, emphasizing the authenticity, accuracy, and completeness of disclosure materials.
WeLion joins the ranks of Nio suppliers poised to become public companies.
Yesterday, Nio's LiDAR supplier Seyond Holdings (HKG: 2665) debuted on the Hong Kong stock market, closing up 33 percent.
