Customers try out a customized automobile software developed by Wuhan KOTEI Informatics Co, based in Optics Valley of China. [Photo/WeChat account of Optics Valley of China] 

Officials in Shenzhen Stock Exchange Second Board Listing Commission held a meeting on Aug 10, during which the IPO (Initial Public Offering) application from Wuhan KOTEI Informatics Co, a company based in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC), was approved. 

Expected to be the valley's 53th listed firm, Wuhan KOTEI Informatics Co is an integrated software solutions provider for intelligent connected vehicles and smart cities, and its products and services include intelligent cockpits, intelligent electronic control devices, and intelligent driving techniques. The company has its own intelligent connected vehicle testing and serving system, as well as a mobile map data service platform. 

After 10 years of strenuous efforts, KOTEI has established stable and long-standing partnerships with the world's leading spare auto parts providers and renowned automobile manufacturers, and has become a pioneering company in the auto software field. 

From 2018-20, KOTEI registered profits of 69.81 million yuan ($10.47 million), 58.71 million yuan, and 73.01 million yuan, respectively. 

After being listed on the Shenzhen Stock Exchange, the company expects to collect 387 million yuan from the public, which will mainly be spent on a basic automobile electronic software construction program, an intelligent connected vehicle testing and emulating platform construction program, and an intelligent connected vehicle software research center construction program.