Core Viewpoint - Junsheng Electronics is planning an IPO in Hong Kong to accelerate investments in smart automotive technology, manufacturing capabilities, and global market expansion in response to the trends of electrification, connectivity, and intelligence in the automotive industry [1][3]. Group 1: Company Overview - Junsheng Electronics, headquartered in Ningbo, Zhejiang, is a leading domestic and internationally recognized supplier of smart automotive components, covering automotive safety and electronics [2]. - The company ranks as the second largest smart cockpit domain controller supplier in China and the fourth globally, based on projected 2024 revenue, and holds the second position in passive safety products both in China and globally [2]. - The automotive safety business has been the core revenue source for Junsheng Electronics, accounting for approximately 69% of total revenue from 2022 to 2024, with a slight decrease to 62.6% in the first four months of 2025 [2]. Group 2: Financial Performance - From 2022 to 2024, Junsheng Electronics reported steady revenue growth, with figures of 49.793 billion RMB, 55.728 billion RMB, and 55.864 billion RMB, while net profit increased significantly from 233 million RMB to 1.24 billion RMB and 1.326 billion RMB [4]. - In the first four months of 2025, the company achieved a revenue of 19.707 billion RMB and a net profit of 491 million RMB [4]. - Research and development (R&D) expenditures from 2022 to 2024 were 3.034 billion RMB, 3.648 billion RMB, and 3.686 billion RMB, representing 6% to 7% of revenue, with R&D investment of 1.574 billion RMB in the first four months of 2025 [4]. Group 3: IPO Fund Utilization - The IPO proceeds will be allocated to several key areas: (1) R&D and industrialization of smart automotive technologies, including domain controllers and advanced driver-assistance systems (ADAS); (2) manufacturing capacity expansion through upgrading production lines and introducing smart manufacturing technologies; (3) overseas market expansion in Europe, North America, and emerging markets; (4) mergers and acquisitions to strengthen technological capabilities and product lines; (5) supplementing working capital for daily operations and optimizing capital structure [4][5].
均胜电子递表赴港上市 募资加码智能汽车研发与全球化布局