CHANGAN AUTOMOBILE-B(SZ:000625) 智通财经网·2025-10-23 22:57Core Viewpoint - Daming Electronics (603376.SH) has initiated its subscription on October 24, with an issue price of 12.55 yuan per share and a price-to-earnings ratio of 17.97 times, focusing on the automotive electronic components sector [1] Company Overview - The company specializes in the design, development, production, and sales of automotive body electronic control systems, offering a wide range of products including driving assistance systems, cockpit central control systems, intelligent optical systems, window control systems, and seat adjustment systems [1][3] - Daming Electronics has established stable partnerships with major domestic automotive manufacturers such as Changan Automobile, SAIC Group, BYD, and NIO, and has successfully entered the supply chain of well-known foreign brands like Ford and Toyota [2] Market Position and Competition - The company has been actively involved in the development of components for electric vehicles, with its products already applied in various models from brands like BYD and SAIC [2] - The domestic market for automotive electronic components is characterized by numerous suppliers with relatively weak overall competitiveness, although some local companies have advantages in scale and technology [2] Financial Performance - The company reported revenues of approximately 1.713 billion yuan, 2.147 billion yuan, and 2.727 billion yuan for the years 2022, 2023, and 2024 respectively, with net profits of approximately 151 million yuan, 205 million yuan, and 282 million yuan during the same periods [3] - As of December 31, 2024, the total assets are projected to be approximately 2.716 billion yuan, with equity attributable to the parent company at around 1.066 billion yuan [4]