Core Viewpoint - Changchun Changguang Chenshin Microelectronics Co., Ltd. has officially begun its journey to list on the Hong Kong Stock Exchange, positioning itself as a leading provider of high-performance CMOS image sensors (CIS) globally [2] Company Overview - Established in 2012, Changguang Chenshin focuses on high-performance CMOS image sensor development, overcoming key technical challenges in the field [3] - The company has developed 11 proprietary core technologies, creating strong technical barriers in pixel design, circuit design, and process development [3] Product and Market Position - Changguang Chenshin offers nine product series applicable in advanced technology fields such as industrial imaging, scientific imaging, professional imaging, and medical imaging [2] - According to Frost & Sullivan, the global CIS market is expected to grow from 139.1 billion in 2024 to 210.3 billion in 2029, with a compound annual growth rate (CAGR) of approximately 8.6% [2] - In terms of market share, Changguang Chenshin ranks third globally and first in China for industrial imaging revenue in 2024, holding 15.2% of the global market [2] - For scientific imaging revenue in 2024, the company also ranks third globally and first in China, with a market share of 16.3% [2] Financial Performance - The company's revenue increased from 60.44 million in 2022 to 67.30 million in 2024, reflecting an 11.4% growth [3] - Gross profit figures for the past three years were 46.03 million, 38.4 million, and 39.69 million, with corresponding gross profit margins of 76.2%, 63.5%, and 59% [3] - Changguang Chenshin recorded a net loss of 8.41 million in 2022, followed by net profits of 16.98 million in 2023 and 19.7 million in 2024 [4] - The adjusted net profits (non-Hong Kong Financial Reporting Standards) for the three years ending December 31, 2024, were 29.32 million, 22.27 million, and 24.92 million [4] - Operating cash flow has been positive and steadily increasing, rising from 12.19 million in 2022 to 20.83 million in 2023, and further to 22.48 million in 2024 [4]