据港交所11月12日披露，江苏泽景汽车电子股份有限公司(下称：泽景电子)递表港交所主板，海通国际、中信证券为其联席保荐人。该公司曾于2025年5月9 日递表港交所。招股书显示，泽景电子致力于HUD解决方案的研发。 招股书提到，于往绩记录期间，泽景电子提供以挡风玻璃HUD(简称"W-HUD")解决方案CyberLens及增强现实HUD(简称"AR-HUD")解决方案CyberVision为 主，以测试解决方案和其他创新视觉技术解决方案为辅的综合解决方案。公司在解决方案定义阶段与主机厂深度合作共创，带来人车交互与智能驾驶体验更 加深入的新车型。 泽景电子采取软硬一体的方式构建了一体化全流程自研技术架构，集光学设计、机械工程、电子设计、软件算法和人机界面(HMI)于一体，并经过严格测试 验证，涵盖了HUD解决方案的核心能力，具备创造可持续市场差异化的独特能力。 光学设计方面，泽景电子具备完善的光路布局与光学设计能力，通过自主开发的核心算法插件，实现了对光学系统的精准分析和优化。此外，该公司能够进 行动态畸变可视化、杂散光仿真和阳光倒灌仿真等复杂分析。 机械工程方面，泽景电子通过在车辆有限的空间内对各个系统结构的最佳 ...

Core Viewpoint - Jiangsu Zejing Automotive Electronics Co., Ltd. (Zejing Electronics) has submitted an application for listing on the Hong Kong Stock Exchange, focusing on the development of HUD (Head-Up Display) solutions [1][3]. Company Overview - Zejing Electronics specializes in HUD solutions, including W-HUD (Windshield HUD) and AR-HUD (Augmented Reality HUD), and collaborates closely with OEMs to enhance user interaction and smart driving experiences [3][5]. - The company employs an integrated self-research technology architecture that encompasses optical design, mechanical engineering, electronic design, software algorithms, and human-machine interface (HMI) [3][4]. Product Offerings - The company offers a full range of platform-based HUD solutions, including CyberLens, CyberVision, testing solutions, and other innovative business solutions to meet diverse customer needs [5]. - Key features of the CyberLens and CyberVision products include personalized HMI development, dynamic distortion visualization, and advanced navigation capabilities [7]. Financial Performance - Zejing Electronics' revenue increased from RMB 214.09 million in 2022 to RMB 549.36 million in 2023, with a projected revenue of RMB 577.62 million in 2024, reflecting a compound annual growth rate (CAGR) of 64.3% from 2022 to 2024 [9]. - The company recorded losses of RMB 256.14 million in 2022, RMB 175.63 million in 2023, and RMB 138.56 million in 2024, with interim losses of RMB 102 million and RMB 240 million for the periods ending May 31, 2024, and May 31, 2025, respectively [10][11]. Industry Overview - The HUD market in China is expected to grow significantly, with sales volume projected to increase from 1 million units in 2020 to 3.9 million units in 2024, representing a CAGR of 41.2% [14]. - The global market for W-HUD is anticipated to grow from 10.7 million units in 2024 to 20.9 million units by 2029, while AR-HUD is expected to increase from 2 million units to 7.6 million units during the same period [17].