承泰科技递表港交所

Company Dynamics - Chengtai Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, with Guotai Junan Securities as the sole sponsor [2] - Chengtai Technology is a leading supplier of millimeter-wave radar, a core component in the rapidly evolving smart driving sector of the Chinese automotive industry [2] - By 2024, Chengtai Technology is projected to be the largest supplier of front millimeter-wave radar in China, holding a market share of 9.3%, and the third-largest supplier of vehicle millimeter-wave radar with a market share of 4.5% [2] Industry Overview - The millimeter-wave radar industry is experiencing a golden growth period amid the rapid expansion of the smart driving sector [2] - The global market for vehicle millimeter-wave radar is expected to grow from RMB 15.6 billion in 2020 to RMB 24.8 billion by 2024, with a compound annual growth rate (CAGR) of 12.3% [2] - The market is anticipated to continue expanding at a CAGR of 15.1%, reaching RMB 50.1 billion by 2029 [2] Financial Performance - Chengtai Technology's revenues for 2022, 2023, and 2024 are projected to be RMB 57.65 million, RMB 157 million, and RMB 348 million, respectively [3] - Sales of millimeter-wave radar products account for 95.4%, 98.5%, and 99.3% of the company's total revenue in 2022, 2023, and 2024 [3] - Despite rapid revenue growth, the company is expected to incur net losses of RMB 79.17 million, RMB 96.60 million, and RMB 21.77 million in 2022, 2023, and 2024, respectively [3]