德赛西威筹划赴港上市 推进国际化战略布局

Core Viewpoint - Desay SV's announcement of planning to issue H-shares and list on the Hong Kong Stock Exchange aims to enhance its international strategy and brand influence while accelerating overseas business expansion [1] Group 1: Company Developments - Desay SV's stock reached a limit-up on January 6, closing at 137.39 yuan per share, with a market capitalization of 82 billion yuan [2] - The company focuses on three main areas: smart cockpits, intelligent driving, and connected services, maintaining a leading position in the industry [2] - In the first half of 2025, the sales revenue from the smart cockpit business is projected to reach 9.459 billion yuan, an increase of 18.76% year-on-year, while the intelligent driving business is expected to generate 4.147 billion yuan, up 55.49% year-on-year [2] Group 2: Client and Market Engagement - Desay SV's fourth-generation smart cockpit has been mass-produced for clients such as Li Auto, Xiaomi, and Geely, with new project orders from GAC Passenger Vehicle and others [2] - The company holds the top market share in the domestic auxiliary driving domain, providing flagship auxiliary driving controllers to major automakers including Xiaomi, Li Auto, Great Wall Motors, and others [2] - Desay SV has deepened strategic cooperation with global core chip manufacturers and OEMs, securing new project allocations from VW and Toyota in the first half of 2025 [2] Group 3: Global Expansion and Supply Chain - The company is building an international supply chain system with global R&D and manufacturing capabilities, having established branches in key countries such as Germany, France, Spain, Japan, and Singapore [3] - Desay SV's production capacity will begin contributing in Indonesia by May 2025, enhancing supply chain resilience in Southeast Asia, while a plant in Monterrey, Mexico, will provide localized services for the Americas [3] - The smart factory in Spain is expected to start production in 2026, offering advanced products in the smart cockpit and auxiliary driving sectors for the European market [3] Group 4: Financial Performance - For the first three quarters of 2025, Desay SV achieved a revenue of 22.337 billion yuan, reflecting a year-on-year growth of 17.72%, and a net profit of 1.788 billion yuan, up 27.08% year-on-year [3]