Company Overview - Wuxi Cheliantianxia Intelligent Technology Co., Ltd. (Cheliantianxia) has submitted an application for listing on the Hong Kong Stock Exchange, with China International Capital Corporation and Guotai Junan as joint sponsors [1] - The company is a pioneer and leader in the evolution of automotive E/E architecture, providing a full-stack solution from hardware platforms to service architecture [3][4] Product and Market Position - Cheliantianxia's product portfolio includes in-vehicle computing solutions and domain controller solutions, with a strong position in the smart cockpit domain controller market, ranking second in China by revenue in 2024 [3] - The company has established strategic partnerships with leading global hardware and chip manufacturers, enabling the development of a diverse product range compatible with mainstream SoC ecosystems [4][5] Financial Performance - Revenue figures for Cheliantianxia are as follows: approximately RMB 369 million in 2022, RMB 2.298 billion in 2023, RMB 2.656 billion in 2024, and RMB 1.039 billion for the first half of 2025 [6][9] - The company reported losses of approximately RMB 514 million in 2022, RMB 201 million in 2023, RMB 253 million in 2024, and RMB 262 million for the first half of 2025 [6] - Gross profit margins were recorded at 9.5% in 2022, 17.5% in 2023, and 16.2% for both 2024 and the first half of 2025 [7] Industry Overview - The global smart automotive market has seen strong growth, with sales of vehicles equipped with L1 to L5 autonomous driving capabilities increasing from 21.2 million to 53.9 million [10] - The domain controller market is diversifying, with a projected growth from RMB 27.1 billion in 2020 to RMB 193.4 billion in 2024, reflecting a compound annual growth rate (CAGR) of 63.4% [13] - The Chinese market is also expanding rapidly, with the domain controller market expected to grow from RMB 13.9 billion in 2020 to RMB 93.4 billion in 2024, at a CAGR of 61.0% [13]