炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 12月24日，深圳承泰科技股份有限公司（简称"承泰科技"）向港交所递交上市申请材料。这是承泰科技 第二次向港交所递表，上一次是在今年6月。 上市申请材料显示，承泰科技成立于2016年，业务涉及开发、制造及销售雷达产品，附有标准硬件及客 制化软件。 承泰科技是毫米波雷达的供货商，主要从事毫米波雷达产品的设计、研发、制造和商业化。 2022年、2023年、2024年以及2025年上半年，公司分别实现营业收入5765万元、1.57亿元、3.48亿元以 及5.39亿元；净利润分别为-7917.4万元、-9659.8万元、-2176.8万元和-1443.1万元。 公司已与客户A建立稳定且具有战略意义的合作关系，其为公司最大的战略性客户，也是合作时间最长 的客户之一。自2022年以来，公司已向客户A提供多代雷达产品。2024年，公司开始批量生产第5.5代高 分辨率产品CTLRR-220 Pro及CTMRR-130 Pro，该系列产品已应用于客户A全方位智驾平台的车型。 公司大部分的收入来自向客户A销售前向及角毫米波雷达产品，这些产品已配置于若干车型 ...

Core Insights - The first investor reception day for listed companies in Wuxi was held, highlighting the strategic collaboration between Weifu High Technology and Bosch in the development of the sixth-generation millimeter-wave corner radar [1] Company Summary - Weifu High Technology's subsidiary, Weifu Zhiguan, has officially launched and commenced mass production of the sixth-generation millimeter-wave corner radar [1] - The product has secured contracts with several major domestic OEMs and is set to be featured in multiple upcoming passenger vehicle models, with a production and sales target of approximately 3 million units by 2026 [1] - The radar offers significant cost advantages, scalability, and brand quality assurance, leveraging both Bosch's global supply chain and Weifu's localized supply chain for efficient and stable customer support [1] - The product meets export certification requirements for over 100 countries, facilitating global market expansion for Weifu Zhiguan [1] - Future development will focus on advancing front radar, 4D imaging radar, and distributed radar technologies [1]

Core Viewpoint - Chengtai Technology is a leading supplier of millimeter-wave radar technology in China, focusing on the automotive industry's transformation towards intelligent driving, with a significant market share in the sector [1][2]. Financial Performance - Chengtai Technology's revenue has shown rapid growth, with earnings of RMB 57.65 million in 2022, RMB 157 million in 2023, and projected RMB 348 million in 2024 [2]. - Sales of millimeter-wave radar products account for the majority of total revenue, comprising 95.4% in 2022, 98.5% in 2023, and 99.3% in 2024 [2]. - Despite revenue growth, the company recorded net losses of RMB 79.17 million in 2022, RMB 96.60 million in 2023, and RMB 21.77 million in 2024, primarily due to redemption liabilities and high R&D, administrative, and sales expenses [2]. Customer Concentration Risk - Chengtai Technology faces significant customer concentration risk, with a large portion of revenue derived from Client A, contributing RMB 47.20 million in 2022, RMB 143 million in 2023, and RMB 326 million in 2024, representing 81.9%, 91.3%, and 93.6% of total revenue respectively [2]. Supply Chain Risks - The company may experience supply shortages, extended delivery times, and increased costs of raw materials and key components, which could disrupt the supply chain, raise production costs, and negatively impact profitability [3].