华大北斗冲刺港交所主板上市 中国头部GNSS芯片商加速全球布局

Core Viewpoint - Huada Beidou Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, aiming to enhance its research and development capabilities, expand production scale, and strengthen market promotion to seize opportunities in the global high-precision positioning and spatial information market [1][4] Group 1: Company Overview - Huada Beidou is a provider of chips, modules, and related solutions supporting Beidou and other major GNSS systems, ranking sixth globally in GNSS chip and module market share at 4.8% by shipment volume [1] - The company has evolved from core chip design to comprehensive service provision since acquiring the navigation chip business from Huada Electronics in 2017 [2] - Huada Beidou's product lineup includes milestone products such as the first multi-system multi-frequency SoC chip supporting Beidou III in 2017 and the HD814X series low-power dual-core chip established as a domestic benchmark in 2023 [2] Group 2: Financial Performance - The company's total revenue decreased slightly from RMB 698 million in 2022 to RMB 645 million in 2023, but is projected to rebound strongly to RMB 840 million in 2024, reflecting significant year-on-year growth [1] - Revenue from GNSS chips, modules, and related solutions is expected to grow by 42.2% to RMB 238 million in 2024, with a further increase of 71.7% in the first half of 2025 [4] - Revenue from comprehensive chips and modules is anticipated to rise by 26.0% to RMB 602 million in 2024, driven by increased sales of communication chips and a recovery in storage chip prices [4] Group 3: Sales Growth - Sales of standard precision products are projected to surge from 3.4 million units in 2022 to 10.9 million units in 2024, driven by demand in consumer electronics and traffic management [3] - High-precision product sales are expected to increase from 2 million units in 2022 to 5.1 million units in 2024, with shared bicycles, traffic management, and intelligent driving as key growth drivers [3] - The average selling price of standard precision chips decreased from RMB 7.4 in 2022 to RMB 4.8 in 2024, while high-precision products saw a drop from RMB 25.1 to RMB 15.2, enhancing price competitiveness and market penetration [3]