承泰科技，二次递表港交所

Core Viewpoint - Chengtai Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange for the second time, with a focus on developing, manufacturing, and selling radar products, including standard hardware and customized software [1][5]. Group 1: Financial Performance - Chengtai Technology's revenue for the years 2022, 2023, 2024, and the first half of 2025 is projected to be 57.65 million, 157 million, 348 million, and 539 million respectively [2][6]. - The net profit for the same periods is expected to be -79.17 million, -96.60 million, -21.77 million, and -14.43 million respectively [2][6]. Group 2: Customer Relationships - The company has established a stable and strategic relationship with Customer A, which is its largest strategic client and has been a long-term partner [2][7]. - Revenue from Customer A for the years 2022, 2023, 2024, and the first half of 2025 is approximately 47 million, 143 million, 326 million, and 524 million respectively, accounting for 81.9%, 91.3%, 93.6%, and 97.4% of total revenue [2][7]. Group 3: Product Development - In 2024, the company will begin mass production of the 5.5 generation high-resolution products CTLRR-220 Pro and CTMRR-130 Pro, which will be applied in Customer A's comprehensive intelligent driving platform [2][7]. Group 4: Funding and Valuation - In November 2022, the company raised 40 million with a pre-money valuation of 960 million and a post-money valuation of 1 billion [3][7]. - In May 2024, the company completed a 70 million financing round, with a pre-money valuation of 1.25 billion and a post-money valuation of 1.32 billion [3][7]. Group 5: Supplier Relationships - The company’s major suppliers are those providing raw materials, particularly hardware components for radar production. The amount procured from the largest supplier accounted for 48.2%, 26.7%, 48.2%, and 47.9% of total procurement in the years 2022, 2023, 2024, and the first half of 2025 respectively [3][8]. - The amount procured from the top five suppliers accounted for 76.3%, 74.8%, 78.0%, and 77.4% of total procurement in the same periods [3][8].