Zheng Quan Shi Bao Wang·2025-11-13 00:22Core Viewpoint - Zejing Electronics has submitted a listing application to the Hong Kong Stock Exchange, with Haitong International and CITIC Securities as joint sponsors, focusing on the development and sales of HUD solutions [1] Company Summary - The company specializes in various HUD products, including W-HUD (Windshield HUD) and AR-HUD (Augmented Reality HUD), aiming to innovate the smart cockpit visual and human-vehicle interaction experience through technological advancements [1] - It has established an integrated self-research technology framework covering optical design, mechanical engineering, electronic design, software algorithms, and human-machine interface (HMI) design [1] - The company's technical capabilities include advanced optical imaging systems, dynamic distortion visualization, stray light simulation, platform mechanical design, electronic device development, ASPICE compliance process development, functional safety, and cybersecurity [1] Industry Summary - The Chinese automotive HUD market is projected to grow from 1 million units in 2020 to 3.9 million units by 2024, with an expected reach of 12.7 million units by 2029, reflecting a compound annual growth rate (CAGR) of 27.9% [1] - In the global market, W-HUD remains the mainstream HUD solution, with sales expected to increase from 10.7 million units in 2024 to 20.9 million units by 2029 [1] - AR-HUD is anticipated to be a future growth driver, with sales projected to rise from 2 million units to 7.6 million units during the same period [1]