Core Viewpoint - Shenzhen Huada Beidou Technology Co., Ltd. (Huada Beidou), a leading provider of space positioning services in China, has officially submitted its application to the Hong Kong Stock Exchange, aiming to become the first stock in the Hong Kong market focused on space positioning services [1][2]. Company Overview - Huada Beidou was established on December 6, 2016, with investments from prominent companies such as China Electronics Corporation, SAIC Motor Corporation, and BYD, among others [1][2]. - The company is closely associated with Sun Jiadong, known as the "father of satellites" in China, with its current chairman being his son [1][2]. Market Position - As of 2024, Huada Beidou's GNSS chip and module shipments are projected to reach 16.1 million units, making it the sixth-largest GNSS space positioning service provider globally and the second-largest among Chinese companies, with a market share of 4.8% [4]. - In the dual-frequency high-precision GNSS chip and module segment, Huada Beidou ranks as the fourth-largest globally, holding a market share of 10.5% [4]. Product Development - The company has completed four generations of product iterations, with its latest HD814X series leading the industry in terms of functionality [3]. - Huada Beidou's chips support multiple satellite systems, including BeiDou, GPS, GLONASS, Galileo, QZSS, and NavIC, enhancing positioning accuracy and overall performance [3]. Financial Performance - Huada Beidou has not yet achieved profitability, reporting losses of RMB 92.61 million, RMB 289 million, and RMB 141 million for the years 2022, 2023, and 2024, respectively [8]. - Revenue for the same years was RMB 698 million, RMB 645 million, and RMB 840 million [8]. Research and Development - The company places a strong emphasis on R&D, with over 42% of its workforce dedicated to this area. R&D expenditures for 2022, 2023, and 2024 were RMB 103 million, RMB 110 million, and RMB 118 million, respectively, accounting for over 40% of total expenditures [9]. - The global GNSS space positioning service market is projected to grow significantly, with an expected market size of approximately RMB 32,450 billion by 2028, reflecting a compound annual growth rate (CAGR) of 9.1% from 2023 to 2028 [9]. Strategic Partnerships - Huada Beidou has established strategic partnerships with leading companies in shared mobility, smart vehicles, and intelligent transportation [5]. - The company plans to integrate its products with international navigation systems, enhancing compatibility and attracting a broader customer base in overseas markets [11].

Core Viewpoint - Shenzhen Huada Beidou Technology Co., Ltd. has officially submitted its listing application to the Hong Kong Stock Exchange, aiming to leverage its leading position in the GNSS chip design and development sector, supported by the BeiDou satellite navigation system [1] Group 1: Company Overview - Huada Beidou is a leader in the space positioning service field, focusing on the design and development of navigation positioning chips that support the BeiDou system and are compatible with major global GNSS systems [1] - The company ranks sixth among global GNSS service providers and second among domestic companies in China, with a market share of 4.8% in 2024, projected to ship 16.1 million GNSS chips and modules [1] - In the dual-frequency high-precision RF baseband integrated GNSS chip and module sector, Huada Beidou holds a fourth global market share of 10.5%, leading among domestic companies [1] Group 2: Financial Performance - The company has shown stable revenue growth, with reported revenues of RMB 698 million, RMB 645 million, and RMB 840 million for the years 2022, 2023, and 2024 respectively [2][3] - Despite fluctuations in losses, the overall trend shows a narrowing of losses, with figures of RMB 92.6 million, RMB 289.1 million, and RMB 141.3 million for the same years [2][3] - Gross profit figures for the same years are RMB 83.7 million, RMB 67.9 million, and RMB 82.0 million, indicating a consistent gross margin performance [3] Group 3: Management and Governance - The company currently has no controlling shareholder or actual controller, with a board consisting of nine directors, including two executive directors, four non-executive directors, and three independent directors [2] - Sun Zhongliang, the chairman and executive director, has been with the company since December 2016 and is responsible for the overall development strategy and major financial and human resource planning decisions [2]

Core Viewpoint - Huada Beidou is a leading provider of space positioning services in China, empowered by the BeiDou satellite navigation system, with significant advantages in chip design and GNSS solutions [3][4]. Group 1: Company Overview - Huada Beidou is headquartered in Shenzhen, China, and specializes in navigation positioning chip design, offering chips and modules that support BeiDou and major global GNSS systems [3]. - The company is recognized as the sixth largest GNSS space positioning service provider globally and the second largest among domestic companies, holding a market share of 4.8% [3]. - In the dual-frequency high-precision RF baseband integrated GNSS chip and module segment, Huada Beidou ranks fourth globally and is the largest in China, with a market share of 10.5% [3]. Group 2: Product Offerings - The company provides a comprehensive range of GNSS chips, modules, and related solutions, catering to various applications including smart transportation, IoT, and meteorological monitoring [4]. - Core products include standard and high-precision chips for consumer electronics, automotive applications, and BeiDou short message satellite communication chips [4]. Group 3: Financial Performance - Revenue for the fiscal years 2022, 2023, and 2024 was approximately RMB 697.997 million, RMB 645.136 million, and RMB 840.286 million, respectively [5]. - The company reported net losses of approximately RMB 92.612 million, RMB 288.916 million, and RMB 141.269 million for the same periods [5]. - Gross profit figures were RMB 83.685 million, RMB 67.919 million, and RMB 81.967 million for 2022, 2023, and 2024, respectively [5].