Core Viewpoint - The company is actively transforming into a leading player in the intelligent driving sector, leveraging its data and technology advantages while adapting to market trends through precise product alignment [1][2]. Group 1: Company Developments - The company’s subsidiary, Siwei Zhili, has submitted an application for an H-share IPO, marking a significant step in its growth strategy [1]. - Siwei Zhili is primarily focused on smart cockpit software solutions and has a strong shareholder base, including major players like Didi and Tencent, which enhances its market position [1][4]. - As of June 20, 2025, Siwei Zhili has delivered over 15.9 million smart cockpit software solutions and over 1.55 million integrated hardware and software solutions [3]. Group 2: Market Position and Financials - Siwei Zhili ranks tenth among domestic primary smart cockpit solution providers, holding a market share of 0.1%, and ranks third globally among software-driven Chinese suppliers [3]. - Despite reporting losses of 203 million RMB, 265 million RMB, and 377 million RMB for the years ending December 31, 2022, 2023, and 2024 respectively, the company has shown stable revenue performance with total revenues of approximately 538.8 million RMB, 477.2 million RMB, and 478.8 million RMB for the same years [4]. - The company has a strong customer base, with revenue from its top five clients accounting for 85.9%, 96.2%, and 92.2% of total revenue over the past three years [4]. Group 3: Industry Trends and Future Outlook - The global smart cockpit market is projected to reach 774.6 billion RMB by 2029, with the Chinese market expected to exceed 300 billion RMB, indicating significant growth potential [2]. - The company is focusing on building a comprehensive ecosystem for intelligent driving, including partnerships with major cloud service providers like Alibaba Cloud and Huawei Cloud to enhance its technological capabilities [9]. - The management team is committed to staying updated on industry trends and competitor movements to maintain a competitive edge in the rapidly evolving automotive market [10].

Core Insights - The report analyzes the trends and investment opportunities in the Chinese electronic map industry from 2025 to 2031, highlighting the rapid growth and technological advancements in this sector [1]. Section Summaries Section 1: Overview of Electronic Maps - Electronic maps possess unique features and functionalities, including navigation maps, multimedia maps, and web maps [3]. - The comparison between electronic maps and traditional paper maps emphasizes the advantages of digital formats [3]. Section 2: Global Electronic Map Industry Analysis (2021-2025) - The global electronic map industry is experiencing significant technological advancements and market dynamics [3]. - Monthly website traffic for global map services has reached substantial levels, indicating growing user engagement [3]. Section 3: Chinese Electronic Map Industry Environment (2021-2025) - The macroeconomic environment in China, including GDP growth and industrial development, is analyzed to understand its impact on the electronic map market [3]. - Government policies and standards related to electronic maps are crucial for industry regulation [3]. Section 4: Current State of China's Electronic Map Industry (2021-2025) - The report highlights the rapid development of in-car navigation electronic maps and the significant market potential for mobile navigation maps [4]. - The industry is characterized by a few dominant players, indicating a monopolistic trend [4]. Section 5: Market Dynamics and Trends (2021-2025) - The report discusses the increasing integration of electronic maps into various aspects of daily life, driven by technological advancements [4]. - Issues such as piracy and the need for resource reallocation in the electronic map service market are identified [4]. Section 6: Competitive Landscape (2021-2025) - The competition within the electronic map industry is intense, with a focus on information services as a key competitive factor [4]. - The report analyzes market concentration and regional competition dynamics [4]. Section 7: Key Players in the Electronic Map Industry - Detailed analysis of major companies such as Beijing Four Dimensions Map Technology Co., Ltd. and their financial performance metrics [5][6]. Section 8: Future Outlook (2025-2031) - The report predicts significant growth in the electronic map market, particularly in car navigation and mobile navigation sectors [5]. - The potential for online electronic maps is highlighted as a promising area for future development [8]. Section 9: Investment Opportunities and Strategies (2025-2031) - The report identifies regional investment opportunities and the expected growth in demand for electronic maps [8]. - It discusses the investment characteristics and policy implications for the electronic map industry [8].

杭州经纬信息技术股份有限公司 首次公开发行股票并在创业板上市发行公告 保荐人（主承销商）:海通证券股份有限公司 特别提示 根据中国证券监督管理委员会（以下简称"中国证监会"）2012 年 10 月发 布的《上市公司行业分类指引（2012 年修订）》的行业目录及分类原则，杭州经 纬信息技术股份有限公司（以下简称"经纬股份"或"发行人"）所处行业属于 "M74 专业技术服务业"。截至 2023 年 4 月 18 日（T-3 日），中证指数有限公司 发布的行业最近一个月平均静态市盈率为 32.57 倍。本次发行价格 37.70 元/股对 应发行人 2022 年扣非前后孰低归母净利润摊薄后市盈率为 32.35 倍，低于中证 指数有限公司发布的行业最近一个月平均静态市盈率；低于招股说明书中所选 可比公司近 20 日扣非后算术平均静态市盈率；低于招股说明书中所选可比公司 近 20 日扣非前算术平均静态市盈率，但仍存在未来发行人股价下跌给投资者带 来损失的风险。发行人和保荐人（主承销商）提请投资者关注投资风险，审慎 研判发行定价的合理性，理性做出投资决策。 经纬股份根据《证券发行与承销管理办法》（证监会令[第 208 号] ...