Company Overview - Huayi Technology Group Co., Ltd. (referred to as Huayi Technology) has submitted a listing application to the Hong Kong Stock Exchange, with Agricultural Bank of China International as its sole sponsor [1] - The company is a leading provider of intelligent powertrain testing solutions for new energy vehicles in China, holding a market share of 7.9% as of 2024 [4][20] Business Segments - Huayi Technology operates through three main business segments: powertrain testing services for new energy vehicles, intelligent driving, and intelligent testing equipment for powertrains [4] - The powertrain testing services cover the entire automotive value chain, providing integrated testing, engineering consulting, and technical development services [5] - The intelligent driving segment includes testing services and high-precision positioning products to support intelligent perception systems [7] - The company also offers intelligent end-of-line (EOL) testing equipment for core components such as engines and electric drive systems [6] Financial Performance - The company's revenue for the years ending September 30, 2023, 2024, and 2025 is projected to be approximately RMB 352 million, RMB 423 million, and RMB 386 million, respectively [9] - The company reported losses of RMB 15.91 million, RMB 45.75 million, and RMB 29.70 million for the same periods [10] - Gross profit margins are expected to decline from 39.5% in 2023 to 21.7% in 2025 [12] Market Overview - The global market for automotive powertrain intelligent testing solutions is projected to grow from approximately RMB 35.9 billion in 2020 to RMB 38.2 billion in 2024, with a compound annual growth rate (CAGR) of 1.6% [14] - In China, the market for automotive powertrain intelligent testing solutions is expected to increase from RMB 5.7 billion in 2020 to RMB 7.6 billion in 2024, with a CAGR of 7.5% [16] - The market for intelligent testing solutions for new energy vehicle powertrains in China is anticipated to grow significantly, from RMB 1.3 billion in 2020 to RMB 3.7 billion in 2024, reflecting a CAGR of 29.9% [18] Competitive Position - As of 2024, Huayi Technology ranks as the third-largest provider of intelligent testing solutions for new energy vehicle powertrains in China, with a market share of 7.9% [20][22] - The top five companies in this market collectively hold approximately 47.6% of the market share [22] Board of Directors - The board of directors will consist of nine members, including four executive directors, one non-executive director, and four independent non-executive directors [23]