Whether Zhuhai Yinlong Energy Co., Ltd. will issue an IPO is attracting extensive attention due to the company's rapid expansion.

On July 24, the Nanjing Municipal State-owned Assets Supervision and Administration Commission announced that Yinlong Energy has signed a framework agreement to acquire a Nanjing-based bus manufacturing company.

If the deal was completed, the new-energy vehicle manufacturer would obtain the qualification to build factory and produce vehicles in Nanjing.

A source close to Yinlong Energy told NBD that the company does have a listing plan, and that preparations are underway.

According to the registration information at the industrial and commercial administration, the carmaker has completed its shareholding reform, which is a premise for listing.

However, the company needs to further improve its net profits to get listed.

Figures show that Yinlong's net profits for the first half of 2014 were -267 million yuan (about -39.7 million U.S. dollars), while the same metric went up to 416 million yuan (about 61.9 million U.S. dollars) for the same period of 2015 and slipped to 377 million yuan (about 56.1 million U.S. dollars) for Jan.-Jun. 2016.

Email: lansuying@nbd.com.cn