| [编纂]項下的[编纂]數目 | : | [编纂]股H股(視乎[编纂]與否而定) | | --- | --- | --- | | [编纂]數目 | : | [编纂]股H股(可予隔纂]) | | [编纂]數目 | : | 「編纂]股H股(可予[編纂]及視乎[編纂]與否而定) | | 成高 编纂] | … | 每股H股[編纂]加1.0％經紀佣金、0.0027％證監會交易 | | | | 費、0.00565%聯交所交易費及0.00015%會財局交易 | | | | 費(須於申請時以港元繳足,多繳股款可予退還) | | 画值 | : | 每股H股人民幣1.00元 | | [编纂] : | | [編纂] | 智通财经APP获悉，据港交所12月19日披露，深圳华大北斗科技股份有限公司(简称：华大北斗)向港交所主板提交上市申请，招银国际、平安证券(香港)为 其联席保荐人。招股书显示，华大北斗是一家空间定位服务提供商，提供支持北斗及全球主要GNSS系统的导航定位芯片和模块，同时提供GNSS相关解决 方案。根据灼识谘询资料，2024年，以出货量计，公司在全球GNSS芯片及模组市场排名第六，市场份额为4.8%。根据灼识咨询资料 ...

Core Viewpoint - The Beidou Satellite Navigation System is becoming a significant force in promoting China's digital economy and international cooperation, supported by government policies and its wide application in new infrastructure, spatiotemporal big data, and smart cities [1]. Company Overview - Huada Beidou, a leading domestic space positioning service provider, is preparing for its IPO on the Hong Kong Stock Exchange, backed by strong technical barriers and state support [2]. - The company, established in 2013, focuses on navigation chip design and has become the second-largest GNSS service provider in mainland China, with a global market share of 4.8% [3][5]. Financial Performance - Huada Beidou's revenue is projected to grow from RMB 6.45 billion in 2023 to RMB 8.40 billion in 2024, with a compound annual growth rate (CAGR) of 9.7% [5]. - Despite high revenue, the company faces significant losses, with cumulative losses of RMB 5.23 billion from 2022 to 2024, attributed to high R&D expenditures [5][6]. Market Dynamics - The GNSS space positioning service industry is characterized by high growth potential, with China's market expected to reach RMB 9.54 trillion by 2028, growing at a CAGR of 14.5% from 2023 to 2028 [8]. - The Beidou system has advantages over other GNSS systems, including better anti-blocking capabilities and superior performance in low-latitude regions [7]. Competitive Landscape - Huada Beidou faces intense price competition from international giants like Qualcomm and Broadcom, which could pressure profit margins [10]. - The company has established strong technical barriers, making it a benchmark in the industry, despite the challenges posed by price wars [11][12]. R&D and Innovation - Huada Beidou's R&D investment is significant, with expenditures exceeding 40% of total expenses, focusing on high-precision positioning technology [5][12]. - The company aims to penetrate consumer markets while maintaining its technological edge, which is crucial for its long-term growth [12].