华为工程师卖毫米波雷达，年入3.48亿，港股上市

Core Viewpoint - Shenzhen Chengtai Technology Co., Ltd. is preparing for an IPO on the Hong Kong Stock Exchange, focusing on automotive millimeter-wave radar, positioning itself as a leading supplier in China with significant market share [2][3]. Company Overview - Chengtai Technology is the largest domestic supplier of forward millimeter-wave radar in China, with a market share of 9.3%, and the third-largest overall supplier with a 4.5% market share [2]. - The company was founded in 2016 by former Huawei engineers Chen Chengwen and Zhou Ke, who chose to focus on millimeter-wave radar due to its shorter time to market compared to laser radar [3]. Financial Performance - Chengtai Technology's revenue grew from 57.65 million yuan in 2022 to 348 million yuan in 2024, marking a fivefold increase over three years [4]. - The net losses for the same period were 79.17 million yuan, 96.6 million yuan, and 21.77 million yuan, respectively [4]. Key Partnerships - BYD has been a significant customer for Chengtai Technology, with sales to BYD amounting to 47.2 million yuan in 2022, 143 million yuan in 2023, and 326 million yuan in 2024, representing 81.9%, 91.3%, and 93.6% of total revenue [5]. Market Trends - The Chinese automotive millimeter-wave radar market is projected to grow from approximately 12.8 billion yuan in 2023 to 37 billion yuan by 2030, driven by the rapid adoption of intelligent driving technologies [6]. - The average annual growth rate for the millimeter-wave radar market in China is expected to reach 26% in the coming years [7]. Technological Developments - The latest trend in millimeter-wave radar is the development of 4D radar, which enhances detection capabilities and is seen as a cost-effective alternative to laser radar [9]. - The integration of AI algorithms with radar technology is becoming mainstream, improving environmental perception and decision-making capabilities [10].