Mannest, No. 1 in Localized Coating Die Heads

Mannest (曼恩斯特, Shenzhen Mannest Technology Co., Ltd.) is China’s No. 1 domestic company in the lithium battery coating die-head (涂布模头) sector, headquartered in Shenzhen.

1. Company Overview

• Company Name: Shenzhen Mannest Technology Co., Ltd. (深圳市曼恩斯特科技股份有限公司), Stock Code 301325 (Shenzhen ChiNext)
• Founded: December 1, 2014
• Headquarters: Shenzhen, Guangdong Province, China
• Listed: Listed on ChiNext on May 12, 2023 (IPO of 30 million shares, raising RMB 531 million)
• CEO: Peng Jianlin (彭建林) and Tang Xuejiao (唐雪姣), a married couple — combined 62.32% equity stake (actual controlling shareholders)

2. History and Workforce

Founded in 2014, the company has focused on R&D of high-precision narrow-slot-die (狭缝式) coating die heads, accessories, and coating equipment. As of 2020, it held a 21% share of the domestic coating die-head market, ranking No. 1 in China, and received ChiNext listing approval in June 2022, formally listing in May 2023.

Founder and General Manager Peng Jianlin has 15 years of dedicated R&D experience and is the inventor or co-inventor on 158 of the company’s patents. The company operates multiple subsidiaries in Anhui, Shenzhen, and elsewhere (coating automation software, sensors and fluid components, vacuum coaters, etc.).

3. Core Technology and Key Equipment

High-precision slot-die coating die heads are the core product, with applications expanding beyond lithium batteries into perovskite solar cells, hydrogen fuel cell electrodes, advanced semiconductor packaging, and LCD displays.

• High-precision narrow-slot-die coating die heads — largest share of revenue (62.78–75.76% in 2019–2021)
• Coating die head augmentation/retrofit services
• Coating equipment (涂布设备)
• New coating technologies for high-solid-content, all-solid-state, and solid electrolyte processes (under development)

4. Production Infrastructure and Quality Assurance

In addition to its Shenzhen headquarters, the company has a subsidiary, Anhui Mannest Technology Co., Ltd. (安徽曼恩斯特科技有限公司); per the 2025 annual report (cninfo, disclosed 2026-04-28), the specific factory floor area, investment amount, and commissioning date for that site are not separately disclosed (undisclosed). The same annual report states that an intelligent equipment production base in Huai’an, Jiangsu, has officially broken ground as part of the company’s IPO fundraising investment projects. As of the end of 2025, R&D headcount was 480.

5. Delivery Track Record and Partnerships

The company lists CATL (Contemporary Amperex Technology), BYD, and CALB (中创新航) as major customers. The 2025 annual report (cninfo, disclosed 2026-04-28) also names Gotion High-Tech (国轩高科) and EVE Energy (亿纬锂能) among its partner customers, alongside BYD and CATL. Individual contract amounts and years are (undisclosed).

6. Financial Status and Roadmap

Per the 2025 annual report (cninfo, disclosed 2026-04-28), annual revenue was CNY 1.068 billion (down 37.12% year-on-year), and net profit attributable to parent shareholders was a loss of CNY 109.86 million, swinging to a loss (down 457.87% year-on-year). Net profit for Q1 2026 fell 831.44% year-on-year (Tencent News, reported 2026-04-30, citing the filing), and H1 2026 revenue was CNY 212 million (down 62.14% year-on-year) with net profit down 263.17% year-on-year (Tencent News, reported 2026-08-27 and 2026-08-28, citing the filings). The specific causes behind these quarterly figures (such as delays in IPO-fundraising investment projects) require cross-checking against the original filings and are not asserted in this profile.

The company has outlined a direction of continuing ‘import substitution’ by expanding next-generation coating technologies — high-solid-content, all-solid-state, and solid electrolyte — into adjacent emerging areas including hydrogen fuel cell electrodes, perovskite solar cells, MLCCs, and semiconductor coating. In May 2026, the company disclosed that a subsidiary contributed CNY 59 million toward a CNY 789 million smart-measurement/manufacturing industry fund (Sina Finance, reported 2026-05-22, citing the filing).

This profile was compiled based on publicly available sources including Baidu Baike, China Securities Journal (cs.com.cn), Jiemian News, and Maimai (脉脉). Unverified figures and undisclosed information have not been arbitrarily included.