Core Insights - The strategic cooperation between Shenzhou Car Rental and Volant aims to integrate ground and aerial transportation services, enhancing user experience and solidifying Shenzhou's position as a technology-driven company in the travel industry [1][2] Group 1: Strategic Partnership - Shenzhou Car Rental signed a strategic cooperation agreement with Volant, a leader in the low-altitude travel sector, during the 8th China International Import Expo [1] - This partnership represents a significant step in Shenzhou's efforts to build a technology-driven travel ecosystem, combining ground rental services with aerial travel solutions [1] Group 2: Technological Innovation - Shenzhou Car Rental's move into the low-altitude economy aligns with its core strategy of creating a "smart travel experience" [1] - The collaboration with Volant is based on a logic of "professional division of labor and complementary advantages," leveraging Volant's expertise in eVTOL aircraft development [1] Group 3: Product Integration - The strategic agreement includes the development of integrated solutions for "ground rental + aerial commuting/sightseeing," aimed at gradually establishing an Urban Air Mobility (UAM) network [2] - Shenzhou plans to explore the timely procurement of eVTOL aircraft to build a scalable operational fleet, promoting the popularization of aerial travel [2]

Core Insights - Shenzhou Car Rental and Volant have signed a strategic cooperation agreement, marking a significant step in the exploration of integrated ground and air travel services [1][2] - The partnership aims to provide users with efficient and diverse future travel solutions, leveraging Shenzhou's experience in smart travel technology [1][2] Group 1: Strategic Cooperation - The collaboration is based on a "professional division of labor and complementary advantages" in technological innovation [2] - Volant is a leading supplier in the eVTOL sector, having completed the first manned test flight of its VE25-100 aircraft in October 2025 [2] Group 2: Market Potential - The low-altitude economy is projected to reach a market size of 1.5 trillion yuan by 2025 and is expected to exceed 3.5 trillion yuan by 2035, according to the Civil Aviation Administration of China [1] - eVTOL aircraft are central to the low-altitude economy, transitioning from concept to commercialization [1] Group 3: Operational Integration - Shenzhou Car Rental plans to develop integrated solutions for "ground rental + air commuting/sightseeing," gradually building an Urban Air Mobility (UAM) network [2] - The company will explore the procurement of eVTOL aircraft to establish a large-scale operational fleet, promoting air travel accessibility [2] Group 4: Infrastructure Development - Shenzhou will leverage its urban resource integration capabilities to establish low-altitude takeoff and landing platforms in key cities, setting industry standards for passenger services and air-ground transport integration [2] - The partnership will focus on co-developing technical standards, service norms, and safety management systems for the eVTOL travel sector, aiming to solidify a leading position in the integrated air-ground market [2]

Core Points - Junsheng Electronics successfully listed on the Hong Kong Stock Exchange on November 6, 2025, raising approximately HKD 34.12 billion through an IPO of 155.1 million shares priced at HKD 22.00 each [2][3] - The IPO was highly oversubscribed, with a public offering receiving 147.67 times subscription and the international offering receiving 9.78 times subscription [3] - The company is recognized as the second-largest provider of automotive passive safety products in China and globally, focusing on advanced automotive electronic and safety solutions [3] Company Overview - Junsheng Electronics was established in 2004 and specializes in the research, manufacturing, and sales of automotive components, particularly in automotive electronics and safety [3] - The company ranks 41st in the global automotive parts industry as of 2024 [3] Shareholder Structure - Post-IPO, the major shareholder is Mr. Wang Jianfeng, holding a total of 35.86% of shares, while other A-shareholders hold 54.14% and H-shareholders hold 10.00% [3] Market Performance - As of midday trading, Junsheng Electronics' share price was HKD 20.42, down 7.18% from the IPO price, with a total market capitalization of approximately HKD 316.67 billion [4] IPO Underwriters - The IPO was managed by a team including CICC and UBS as joint sponsors, along with several other financial institutions providing various underwriting and advisory services [5]

Core Viewpoint - The strategic cooperation between Shenzhou Car Rental and Volant aims to integrate ground and aerial transportation services, enhancing the travel ecosystem through technological innovation [1] Group 1: Strategic Cooperation - Shenzhou Car Rental signed a strategic cooperation agreement with Volant, a leader in low-altitude travel, at the 8th China International Import Expo [1] - This partnership signifies a key step for Shenzhou Car Rental in building a technology-driven travel ecosystem [1] Group 2: Service Integration - The collaboration will focus on developing a comprehensive solution that combines ground rental services with aerial commuting and sightseeing [1] - Shenzhou Car Rental plans to gradually establish an Urban Air Mobility (UAM) network and explore the procurement of eVTOL aircraft for large-scale operations [1] Group 3: Company Background - Shenzhou Car Rental has been in the travel sector for 18 years, covering over 360 cities and accumulating 180 million registered users [1] - The company has developed mature intelligent operation experience in tourism and business scenarios, which supports the commercialization of low-altitude travel [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容所產生或因依賴 該等內容而引致的任何損失承擔任何責任。 NINGBO JOYSON ELECTRONIC CORP. 寧波均勝電子股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：0699） 海外監管公告 本公告乃由根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列本公司於上海證券交易所網站刊登的公告如下，僅供參閱。 承董事會命 寧波均勝電子股份有限公司 董事長兼執行董事 王劍峰先生 中國寧波，2025年11月6日 於本公告日期，本公司董事會成員包括：(i)執行董事王劍峰先生、陳偉先生、 李俊彧女士及蔡正欣先生；(ii)非執行董事朱雪松先生及周興宥先生；及(iii)獨立 非執行董事魏學哲教授、魯桂華教授、余方教授及席絢樺女士。 证券代码：600699 证券简称：均胜电子 公告编号：临 2025-072 宁波均胜电子股份有限公司 关于控股股东及其一致行动人持股比例被动稀释 触及 1%及 5%整数倍的提示性公告 宁波均胜电子 ...

Core Viewpoint - Ningbo Joyson Electronic Corp. (referred to as "Joyson Electronics", 00699.HK) was listed on the Hong Kong Stock Exchange today, opening below the issue price at HKD 21.5 and closing at HKD 20.24, representing an 8% decline from the issue price [1][4]. Summary by Relevant Sections Share Issuance and Capital Structure - The total number of shares offered globally by Joyson Electronics was 155,100,000 H-shares, with 15,510,000 shares allocated for public offering in Hong Kong and 139,590,000 shares for international offering [2]. - After the listing, the total number of issued shares (before the exercise of the over-allotment option) was 1,550,770,563 [2]. Pricing and Proceeds - The final issue price was set at HKD 22.00, resulting in total proceeds of HKD 3,412.2 million. After deducting estimated listing expenses of HKD 159.7 million, the net proceeds amounted to HKD 3,252.5 million [4][5]. Use of Proceeds - Approximately 35% of the net proceeds is expected to be used for research and commercialization of automotive intelligent solutions and cutting-edge technologies to enhance leadership in the smart automotive technology sector [5]. - Another 35% is anticipated to improve manufacturing capabilities and cost efficiency, as well as optimize supply chain management [5]. - About 10% is planned for expanding overseas market share and collaborating with vehicle manufacturers for international expansion [5]. - An additional 10% is earmarked for potential investments and acquisitions in targets that complement the business in terms of technical expertise, operations, and brand profile, aiming to strengthen market position in the electrification and intelligence trends in the automotive industry [5]. - The remaining 10% is designated for working capital and general corporate purposes [5]. Cornerstone Investors - Key cornerstone investors include JSC, Ningbo New Quality, Jump Trading, Zhongding Capital Phase 8, China Post Fund, Vandi, and Fidelidade [6].

Core Insights - HwaHsing Capital has solidified its leading position as the preferred investment banking partner for new economy enterprises in China [2][4] Company Overview - Ningbo Joyson Electronic Corp, a leader in smart automotive technology solutions, officially listed on the Hong Kong Stock Exchange on November 6, with a base issuance scale of approximately $439 million, potentially reaching up to $505 million if the over-allotment option is fully exercised [2] - Joyson Electronic focuses on the research, manufacturing, and sales of automotive components, ranking 41st globally in the automotive parts industry by revenue in 2024, and is the second-largest supplier of passive safety products in China and globally [2] Investment Banking Role - HwaHsing Capital's Hong Kong and U.S. stock team played a crucial role in successfully introducing multiple orders for Joyson Electronic, supporting the smooth completion of the issuance [3] - HwaHsing Capital's involvement as a joint bookrunner further demonstrates its comprehensive strength as a reliable capital market partner for global new economy enterprises [4] Industry Trends - The automotive industry's trends of electrification and intelligence are reshaping the global landscape, with Joyson Electronic positioned as a key player in the automotive supply chain due to its deep expertise in safety systems and electronics [4] - Joyson Electronic aims to establish itself as a "Tier 1" player in the automotive and robotics sectors, planning to create the largest real industrial scene for embodied intelligent data space, promoting innovation in robotics technology [4]

Group 1 - The core point of the article is that Junsheng Electronics has officially listed on the Hong Kong Stock Exchange, marking a significant step in its global development strategy [1] - Junsheng Electronics issued approximately 155 million H-shares at a price of HKD 22 per share, raising a total of HKD 3.41 billion [1] - The company aims to establish a dual capital platform with its A-share and H-share listings, enhancing its global presence and strategic layout [1]

Core Viewpoint - Junsheng Electronics officially listed on the Hong Kong Stock Exchange on November 6, marking a new phase in its global development with a total issuance of approximately 155 million H-shares at a price of HKD 22 per share, raising about HKD 3.41 billion [1] Company Overview - Founded in 2004, Junsheng Electronics is a leading provider of intelligent automotive technology solutions, focusing on automotive electronics and safety, covering major automotive domains such as cockpit, intelligent driving, connectivity, power, and body [1] - The company has established over 25 R&D centers and 60 production bases across major automotive production and sales regions in Asia, Europe, and North America, serving over 100 global automotive brands, including the top ten automakers in China and worldwide [1] Global Strategy - Junsheng Electronics employs a "Local for Local" global layout strategy, enabling synchronized R&D, supply chain configuration, production, and sales networks with global automakers [1] - The chairman, Wang Jianfeng, emphasized that the Hong Kong listing represents a new starting point for the company, aiming to leverage the advantages of the "A+H" dual capital platform to drive innovation and contribute to a smarter, safer, and more environmentally friendly future [1]

Market Overview - The Hong Kong stock market experienced a rebound, with the Hang Seng Index reaching 26,123 points, up 188 points, or 0.73% [1] - The Hang Seng Technology Index reported 5,825 points, increasing by 39 points, or 0.68% [4] Sector Performance - The semiconductor sector led the market gains, with notable increases: SMIC (00981.HK) up over 3%, Hua Hong Semiconductor (01347.HK) up over 2%, and Shanghai Fudan (01385.HK) up over 1% [3] - The machinery sector also showed strength, with Weichai Power (02338.HK) rising over 11%, China National Heavy Duty Truck Group (03808.HK) up over 5%, and others like CRRC (01766.HK) and Sany Heavy Industry (06031.HK) up over 2% [3] New Listings - Four new stocks were listed on the Hong Kong market today, with Wangshan Wangshui-B (02630.HK) opening nearly 185% higher [3] - Conversely, three other new stocks faced declines, with Xiaoma Zhixing-W (02026.HK) down over 12% and Wenyuan Zhixing-W (00800.HK) also down over 12% [5][6] Investment Trends - There is a noticeable shift in market funding, with capital moving from previously high-performing tech stocks to traditional economic sectors and utility stocks, such as local banks, real estate, and high-dividend stocks like CLP Holdings and MTR Corporation [7] - The market is expected to be influenced by three key variables: the pace of Federal Reserve interest rate cuts, developments in US-China relations, and progress in China's domestic growth policies [7]