泽景冲刺港交所：中国第二大HUD解决方案供应商，营收复合年增长64%

Core Viewpoint - Jiangsu Zejing Automotive Electronics Co., Ltd. (referred to as "Zejing") is set to go public on the Hong Kong Stock Exchange, focusing on innovative smart cockpit visual and interaction solutions, including HUD technologies [2][3]. Group 1: Company Overview - Zejing was established in 2015 and specializes in HUD solutions, including W-HUD and AR-HUD, and has introduced self-developed HUD solutions to the Chinese market [2]. - The company has become the only Chinese supplier to secure multiple international mainstream automaker HUD orders and has achieved mass production [3]. Group 2: Market Position - As of 2024, Zejing ranks second among Chinese HUD solution suppliers with a market share of 16.2%, and it is the only company in China to rank in the top three for HUD, W-HUD, and high-performance AR-HUD solution sales [4]. - Zejing has established relationships with 22 automotive OEM clients, including both leading domestic manufacturers and emerging players, and has secured over 90 model specifications with cumulative shipments exceeding 1.5 million units [4]. Group 3: Financial Performance - Zejing's revenue from 2022 to 2024 was 214 million, 549 million, and 578 million yuan, respectively, with a compound annual growth rate (CAGR) of 64.3% [5]. - The gross profit for the same period was 48 million, 140 million, and 158 million yuan, with a CAGR of 80.6%, and gross margins of 22.6%, 25.6%, and 27.3% [6]. Group 4: Funding and Valuation - Following the last round of financing before the IPO in 2024, Zejing's valuation reached 2.585 billion yuan [7]. - The net proceeds from the IPO are intended for production line expansion, automation upgrades, enhancing R&D capabilities, and potential strategic collaborations in related fields [7].