Core Insights - Zhejing Electronics has re-submitted its application to the Hong Kong Stock Exchange, with Haitong International and CITIC Securities as joint sponsors [2] - The company focuses on the development of HUD solutions, primarily offering W-HUD and AR-HUD solutions, and collaborates closely with automakers to enhance human-vehicle interaction and intelligent driving experiences [2] Financial Performance - Zhejing Electronics' revenue increased from RMB 214.1 million in 2022 to RMB 549.4 million in 2023, with a projected rise to RMB 577.6 million in 2024, reflecting a compound annual growth rate (CAGR) of 64.3% from 2022 to 2024 [3] - The company recorded net losses of RMB 256.1 million, RMB 174.6 million, and RMB 137.9 million for the years 2022, 2023, and 2024, respectively [3] - Adjusted losses (non-IFRS) were RMB 79.1 million in 2022, a profit of RMB 13.3 million in 2023, and an adjusted loss of RMB 7.1 million in 2024 [4] - Operating cash flow showed a net outflow of RMB 139.9 million in 2022 and RMB 124.5 million in 2023, but turned positive with net inflows of RMB 29.2 million in 2024 [4] Market Trends - The market for automotive HUD solutions in China is expected to grow from 1 million units in 2020 to 3.9 million units by 2024, with a CAGR of 41.2% [4] - Globally, W-HUD remains the dominant HUD solution, with sales projected to increase from 10.7 million units in 2024 to 20.9 million units by 2029, while AR-HUD is anticipated to grow from 2 million units to 7.6 million units in the same period [5] - Zhejing Electronics aims to leverage its technological advantages in optical design and system integration to capture overseas opportunities through collaboration with domestic and international automakers [5]