Xingyu Co.,Ltd(SH:601799) Chang Jiang Shang Bao·2025-12-05 00:20Core Viewpoint - Xingyu Co., Ltd. (601799.SH) is planning to issue overseas shares (H-shares) and list on the Hong Kong Stock Exchange to enhance its international strategy and brand influence, aiming for high-quality development [1][3]. Financial Performance - Xingyu has seen continuous revenue growth for nearly 17 years, with a revenue of 10.71 billion yuan in the first three quarters of 2025, representing a year-on-year increase of 16.09%. The company anticipates its full-year revenue for 2025 to exceed 15 billion yuan [2][7]. - The company aims to achieve revenue targets of 20 billion to 30 billion yuan in the future, positioning itself to challenge the top three global players in the automotive lighting industry [2][13]. - In 2024, Xingyu's revenue reached a historical high of 13.25 billion yuan, marking a significant recovery with growth rates exceeding 20% in 2023 and 2024 [7][12]. Profitability - Xingyu's net profit attributable to shareholders has generally increased, reaching a record high of 1.408 billion yuan in 2024. In the first three quarters of 2025, the net profit was 1.141 billion yuan, up 16.76% year-on-year [8][9]. Market Position - The company serves a diverse client base, including major automotive manufacturers such as Volkswagen, Daimler, BMW, and various domestic and international electric vehicle companies [10][11]. - Xingyu has surpassed Huayu Vision in revenue, claiming the top market share in China's automotive lighting sector [13]. Strategic Initiatives - The company is exploring plans to establish a factory in the United States to further enhance its operational capabilities [14]. - Xingyu has entered a strategic partnership with Jieka Robotics to collaborate on intelligent robotics and smart manufacturing, indicating its commitment to innovation and industry integration [15].