Leading Ideal was listed on the NASDAQ on July 30 under the symbol “LI”, and closed with a market value of USD13,917 million, up 43.13% from its IPO price, and more than three times the book income from Shougang Fund investment. As a result, Leading Ideal became the second new power enterprise to enter the capital market, and the first listed company of the new power of Beijing car manufacturing.

Over four years, the Shougang Fund has been a firm industrial investor and long-term company of Leading Ideal, making three consecutive investments in Leading Ideal, with a cumulative investment amount of RMB700 million. The listing of Leading Ideal is also another important achievement of Shougang Fund travel investment after Shoucheng Holdings (0697. HK), BAIC BJEV (600733. SH), Foton Automobile (600166. SH) and Guazi.

Leading Ideal delivered more than 10,000 cars in half a year of mass production, which set a record for the fastest delivery of 10,000 new models of new power made by Chinese and foreign manufacturers. In the first quarter of this year, Leading Ideal’s revenue rose sharply from zero in the same period last year to RMB850 million, and recorded a gross profit of RMB68 million, with a gross profit margin of 8%. It is the first successful commercial electric vehicle company and the first new vehicle manufacturer to realize self-production in China.

Ye Qian, Shougang Fund’s executive director and Leading Ideal project investor, says that in either Leading Ideal’s government connection, industrial resources connections or financing connections, the Shougang Fund has given all-round, entire industrial chain resources for help. With the support of the Shougang Fund, the new headquarters building with office, design, research and development functions, including trial production and so on, will land in Shunyi District, Beijing; the Shougang Group is one of the best automobile board suppliers in the country, which can provide high quality automobile boards for Leading Ideal; on Leading Ideal’s financing road, Shougang Fund has also helped its connections and eventually introduced external investors.

The low-frequency, large-scale, long-period investment strategy runs through the various sub-funds of Shougang Fund, and the field of travel and intelligent manufacturing is no exception. The Shougang Fund has a deep accumulation within the field of car travel and is one of the earliest institutions to invest in the industry of new energy vehicles in China. Shougang Fund is optimistic about Leading Ideal’s program based on range extension, and agrees with the efficiency-first concept of Leading Ideal and its founder Li Xiang. As a result, long-term cooperation between the two sides is logical. Ye Qian said that in the future, the Shougang Fund will continue to focus on investment in the upstream and downstream industry chain of new energy vehicles in the travel field, and will pay attention to investment in the intelligent travel industry chain with parking as the scenario.