NJEC(SH:600699) 智通财经网·2025-10-27 23:34Core Viewpoint - The company, Junsheng Electronics, is set to launch an IPO for 155.1 million H-shares, with a maximum offer price of HKD 23.60 per share, aiming to raise approximately HKD 3.4585 billion for various strategic investments in the automotive technology sector [1][2]. Group 1: IPO Details - The IPO will take place from October 28 to November 3, 2025, with 10% allocated for public offering in Hong Kong and 90% for international investors, along with a 15% over-allotment option [1]. - The cornerstone investors have committed to subscribe for shares worth approximately USD 107.1 million at the offer price [1]. Group 2: Use of Proceeds - Approximately 35% of the net proceeds is expected to be invested in R&D and commercialization of automotive intelligent solutions and cutting-edge technologies to enhance the company's leadership in the smart automotive technology sector [2]. - About 5% is earmarked for the development and commercialization of L2+ and above advanced driving domain controllers [2]. - Another 5% is planned for the development of 5G-A/5.5G intelligent connected technologies, including V2X products and communication modules [2]. - Approximately 35% will be used to improve manufacturing capabilities and cost efficiency, as well as optimize supply chain management [2]. - 10% is intended for expanding the company's overseas market share and collaborating with OEMs for international expansion [2]. - The remaining 10% is allocated for potential investments and acquisitions that complement the company's expertise and market position in the electrification and intelligence trends in the automotive industry [2]. Group 3: Company Overview - Junsheng Electronics is a provider of smart automotive technology solutions, focusing on R&D, manufacturing, and sales of automotive components, particularly in automotive electronics and safety [3]. - The company ranked 41st in the global automotive parts industry in 2024 and is the second-largest supplier of passive safety products in China and globally by revenue [3]. - For the fiscal years 2023 and 2024, the company reported revenues of approximately CNY 55.728 billion and CNY 55.864 billion, with annual profits of about CNY 1.24 billion and CNY 1.326 billion, respectively [3]. - In the first four months of 2025, the company achieved a revenue of CNY 19.707 billion and a profit of approximately CNY 491 million, indicating a growth in net profit due to increased sales and gross profit [3].