Autel(SH:688208) 智通财经网·2025-12-21 10:42Core Viewpoint - Shenzhen Daotong Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with China International Capital Corporation as its sole sponsor [1]. Company Overview - Daotong Technology is a leading provider of intelligent vehicle diagnostic and smart charging solutions. According to Frost & Sullivan, the company is the world's largest provider of intelligent vehicle diagnostic solutions by revenue for 2022, 2023, and 2024, with a market share increasing from 9.1% in 2022 to 11.1% in 2024 [4]. - The company has over 20 years of industry experience and offers a comprehensive solution portfolio based on strong technical capabilities, focusing on AI applications and technology advancements [4]. Financial Data - Revenue for the fiscal years 2022, 2023, and 2024, as well as for the six months ending June 30, 2025, is approximately RMB 2.27 billion, RMB 3.25 billion, RMB 3.93 billion, and RMB 2.35 billion respectively [7]. - Gross profit for the same periods is approximately RMB 1.26 billion, RMB 1.70 billion, RMB 2.08 billion, and RMB 1.26 billion respectively [8]. - Net profit for the fiscal years 2022, 2023, and 2024, as well as for the six months ending June 30, 2025, is approximately RMB 81.61 million, RMB 140 million, RMB 560 million, and RMB 454.64 million respectively [7]. Industry Overview - The global intelligent vehicle diagnostic market is projected to grow from approximately USD 2.81 billion in 2020 to about USD 3.83 billion by 2024, with a compound annual growth rate (CAGR) of 8.1%. By 2030, the market size is expected to reach around USD 8.00 billion, with a CAGR of 13.1% from 2024 to 2030 [9]. - The importance of intelligent vehicle diagnostics is increasing due to trends in electrification and smart technology, addressing issues such as poor product compatibility and limited detection coverage in traditional vehicle diagnostics [8][9]. - The industry is evolving from hardware-centric systems to integrated solutions that combine hardware, software, and services, with software solutions expected to increase from 16.8% in 2024 to 26.7% by 2030 [10].