视源股份二次递表港交所

Core Viewpoint - The company, Shiyuan Co., has updated its application for listing on the Hong Kong Stock Exchange, marking its second submission since the initial filing on June 17 this year. The funds raised from the IPO will be primarily allocated to four strategic areas: enhancing R&D capabilities, accelerating internationalization and strengthening overseas market capabilities, improving digital capabilities, and advancing domestic strategic acquisitions [1]. Company Overview - Shiyuan Co. was established in 2005 and specializes in the design, R&D, and sales of LCD display control boards and interactive smart panels. The company was listed on the Shenzhen Stock Exchange on January 19, 2017 [3]. - The company primarily relies on global third-party manufacturing partners to produce products based on its own design specifications and SOPs, including ODM model products. It has also built a smart manufacturing base focused on interactive smart panels, which is set to commence production in 2024 [3]. Financial Performance - Financial data indicates that the company's revenue for the years 2022 to 2024 and the first nine months of 2025 are approximately RMB 20.99 billion, RMB 20.17 billion, RMB 22.40 billion, and RMB 18.09 billion, respectively. The net profits for the same periods are RMB 2.12 billion, RMB 1.40 billion, RMB 1.04 billion, and RMB 0.98 billion [5]. - In terms of capacity layout, the Chongqing Industrial Park of Shiyuan Co. officially opened in February this year, housing the company's western headquarters, R&D center, and settlement center. Additionally, in January, the company secured a plot in the Shanghai Kangqiao Industrial Zone for its Yangtze River Delta headquarters and production base project, with a total investment of RMB 550 million, aimed at establishing an integrated R&D, production, and sales hub as well as an Industry 4.0 production demonstration base [5].