Core Viewpoint - The company, Banjie Electronics Technology (Jiangsu) Co., Ltd., is preparing for an IPO, focusing on high-performance automotive chips, but has reported consecutive net losses from 2022 to 2025 [1][2]. Financial Performance - The net profits for Banjie Electronics from 2022 to the first half of 2025 are projected to be approximately -205 million, -356 million, -351 million, and -143 million yuan respectively [1][2]. - The operating revenues for the same period are estimated to be around 104 million, 223 million, 348 million, and 157 million yuan respectively [2]. Market Position - In 2024, the global market size for wireless automotive sensor SoCs is expected to reach 2.9 billion yuan, with Banjie Electronics projected to generate approximately 209 million yuan in revenue, capturing a market share of 7.3% [2]. - The global wireless TPMS SoC market is anticipated to grow from 2.7 billion yuan in 2024 to 7.2 billion yuan by 2030, with a compound annual growth rate (CAGR) of 17.5% [2]. Use of Proceeds - The funds raised from the IPO will be utilized to expand business scale, accelerate new product commercialization, procure wafers, and enhance internal manufacturing capabilities [3]. - Investments will also focus on advancing technology in smart tire sensor SoCs, battery management system SoCs, and universal sensor interface SoCs [3]. Customer and Supplier Dynamics - The majority of Banjie Electronics' customers are direct sales clients, with revenue from the top five customers accounting for 41.2%, 35.6%, 52.1%, and 46.8% of total revenue from 2022 to the first half of 2025 [4]. - The company relies heavily on a few suppliers, with the top five suppliers representing 72.8%, 52.6%, 64.5%, and 63.9% of total procurement during the same period [4].