NJEC(SH:600699) 智通财经网·2025-10-19 23:59Core Viewpoint - Ningbo Joyson Electronic Corp. is set to list on the Hong Kong Stock Exchange, with CICC and UBS acting as joint sponsors, highlighting the company's growth potential in the automotive technology sector [1][3]. Company Overview - Joyson Electronic is a provider of smart automotive technology solutions, focusing on advanced products and solutions in key areas of the automotive parts industry, particularly automotive electronics and safety [3]. - The company ranks 41st globally in the automotive parts industry and is the second-largest supplier of passive safety products in China and worldwide, according to Frost & Sullivan [3]. Market Trends - The global sales of new energy vehicles are projected to surge from 3.2 million units in 2020 to 19 million units by 2024, with a compound annual growth rate (CAGR) of 14.9% expected through 2029 [4]. - This trend presents both opportunities and challenges for traditional automakers, driving them to adopt new technologies and solutions, which in turn benefits Joyson Electronic [4]. Operational Footprint - Joyson Electronic has established over 25 R&D centers and more than 60 production bases in China and overseas, covering major automotive markets in Asia, Europe, and North America [4]. - As of April 30, 2025, the company's overseas sales are expected to account for 74.7% of total revenue, reflecting its strong international presence [4]. Client Network - The company boasts a robust global customer network, with relationships dating back over a century with several clients [4]. - Joyson Electronic serves over 100 global automotive brands, including the top ten automakers in China and worldwide [4]. Financial Performance - For the fiscal years ending December 31 and the four months ending April 30, the company reported revenues of approximately RMB 49.79 billion, RMB 55.73 billion, RMB 55.86 billion, and RMB 19.71 billion, respectively [5][7]. - Profits for the same periods were approximately RMB 2.33 billion, RMB 12.40 billion, RMB 13.26 billion, and RMB 490 million, respectively [5][7].