华大北斗，递交IPO招股书，拟赴香港上市，招银国际、平安证券联席保荐

Core Viewpoint - Allystar Technology (Shenzhen) Co., Ltd. is seeking to list on the Hong Kong Stock Exchange, marking its second attempt after a previous application lapsed in June 2025. The company specializes in GNSS technology and aims to leverage its advanced positioning solutions for various applications [2]. Company Overview - Allystar Technology is a leading provider of space positioning services in China, offering navigation and positioning chips and modules that support the BeiDou and major global GNSS systems [2][3]. - The company has significant advantages in chip-level dual-frequency high-precision positioning technology, low power consumption, and high integration SoC design technology [2][3]. Product Offerings - The core products include standard and high-precision chips for consumer applications, high-precision chips for automotive and specialized applications, and BeiDou short message satellite communication chips [2][3]. - The GNSS chips and modules are utilized in various sectors such as shared bicycles, smart driving, smartphones, wearable devices, IoT, meteorological detection, and deformation monitoring [2][3]. Market Position - As of 2024, Allystar is the sixth largest GNSS service provider globally and the second largest in China, with a global market share of 4.8% [4]. - The company ranks eighth globally by revenue and third among domestic companies in China, with a market share of approximately 1.1% [4]. Financial Performance - The revenue for Allystar in 2022, 2023, 2024, and the first half of 2025 was RMB 697.997 million, RMB 645.136 million, RMB 840.286 million, and RMB 402.702 million respectively [13][14]. - The net losses for the same periods were RMB 92.612 million, RMB 288.916 million, RMB 141.269 million, and RMB 63.577 million respectively [13][14]. Shareholder Structure - Major shareholders prior to the IPO include China Electronics Huagong (9.224%), Shenzhen Dingxin, Suzhou Zhaoying Yunteng, and Tianjin Jiutianshu among others [7][8]. Management Team - The board consists of 9 directors, including 2 executive directors: Sun Zhongliang (Chairman and CEO) and Lu Wei (CEO) [10][12]. - Key executives include the CFO, CTO, COO, and Chief Scientist, indicating a strong leadership team focused on technology and operations [12].