Sou Hu Cai Jing·2025-12-21 14:13Core Viewpoint - MeiG Smart Technology Co., Ltd. is seeking to go public on the Hong Kong Stock Exchange after a previous application was invalidated, indicating a renewed effort to raise capital for its operations in the wireless communication module sector [2][3]. Company Overview - Established in 2007, MeiG Smart is a leading provider of wireless communication modules and solutions, focusing on high-performance smart modules to promote the application of AI and 5G technology [3][4]. - The company ranked fourth globally in the wireless communication module industry with a market share of 6.4% as of 2024, according to Frost & Sullivan [3]. Product Portfolio - MeiG Smart's product offerings include high-performance smart modules, conventional smart modules, and data transmission modules, catering to various applications in the Internet of Things (IoT), smart connected vehicles, and wireless broadband sectors [4][5][6]. - The company was the first to launch smart modules in 2014 and has achieved significant milestones, including the deployment of 5G smart modules in electric vehicles [4]. Financial Performance - The company's revenue for the years 2022, 2023, and projected for 2024 and the first half of 2025 are as follows: RMB 2.30 billion, RMB 2.15 billion, RMB 2.94 billion, and RMB 1.89 billion respectively [12][13]. - Net profits for the same periods were RMB 126.6 million, RMB 62.6 million, RMB 134.4 million, and RMB 84.2 million [12][13]. Shareholding Structure - Prior to the IPO, the major shareholder, Mr. Wang Ping, holds approximately 49.16% of the company, with 39.13% directly and an additional 10.03% through Zhaoge Investment [8][9]. Management Team - The board of directors consists of seven members, including four executive directors and three independent non-executive directors, highlighting a diverse leadership structure [11][12]. Underwriting and Advisory Team - The IPO is being managed by a team that includes CICC as the sole sponsor, Ernst & Young as the auditor, and various law firms for legal counsel in China, Hong Kong, and the United States [14][15].