Core Viewpoint - The IPO application of Guangdong Zhengyang Sensor Technology Co., Ltd. has been terminated due to the withdrawal of the application by the company and its sponsor [1][4]. Company Overview - Guangdong Zhengyang Sensor Technology Co., Ltd. focuses on innovation in the automotive electronics and key components sector, participating in global market competition as a supplier of automotive parts and assemblies [2]. - The company specializes in the research, production, and sales of various sensors related to SCR post-treatment, urea tank assemblies, and related components, boasting a vertically integrated product system [2][3]. Market Position - Zhengyang Technology's main products are widely used in road vehicles, non-road mobile machinery, and marine applications, with over 100 major global OEMs as clients, including Daimler, Volvo, and Caterpillar [3]. - The company has established production bases or subsidiaries in China, the USA, Mexico, the Netherlands, India, and Thailand, enabling localized service for major regional customers [3]. - Zhengyang Technology holds a leading market position in the SCR post-treatment sector, with a domestic market share exceeding 50% for its core product, urea sensors, for nine consecutive years from 2015 to 2023 [3]. Financial Performance - The company reported revenues of 1.929 billion yuan, 2.299 billion yuan, and 1.673 billion yuan for the years 2022, 2023, and the first three quarters of 2024, respectively, with net profits of 187 million yuan, 196 million yuan, and 157 million yuan [4]. - Zhengyang Technology faces risks of declining operating performance due to factors such as the early depletion of demand for heavy trucks, negative growth in domestic freight volume, and fluctuations in raw material prices [4]. IPO Process - The IPO application was accepted on June 28, 2023, with an initial fundraising target of 1.2 billion yuan for various projects, including relocation, technological upgrades, and working capital [4]. - The company underwent two rounds of inquiries from the review process but ultimately withdrew its application without disclosing responses to the second round of inquiries [4].

Core Viewpoint - Huapei Power reported stable revenue and significant profit growth in 2024, indicating strong operational performance and strategic advancements in both its powertrain and sensor businesses [1][2]. Financial Performance - The company achieved an operating revenue of 1.24 billion yuan in 2024, remaining flat compared to the previous year [1] - The net profit attributable to shareholders after deducting non-recurring items was 50.56 million yuan, representing a year-on-year increase of 7.94% [1] - The net cash flow from operating activities reached 257 million yuan, showing a substantial year-on-year growth of 2905.72% [1] - A cash dividend of 2.00 yuan per share (including tax) is proposed for all shareholders [1] Business Segments Powertrain Business - The powertrain division achieved breakthroughs through strategic collaborations and technological innovations, successfully launching new projects with major clients such as Scania and Mitsubishi Heavy Industries [2] - The Daimler Cup project is highlighted as the largest single project in terms of annual sales, contributing nearly 100 million yuan in 2024 [2] - The company renewed contracts for two significant projects with BorgWarner in December 2024 [2] Sensor Business - The sensor division is identified as a second growth curve, with improved profitability through the integration of subsidiaries [2] - The company maintains a leading market share in the domestic commercial vehicle (diesel engine) sector and is expanding into passenger vehicles [2] - Successful mass production of a natural gas engine pressure and temperature sensor for Bosch was achieved in Q2 2024, with additional projects expected to deliver in 2025 [2][3] Technological Advancements - The sensor division established a special team for the development of the third-generation WPTC heater, overcoming patent barriers and achieving over 20 independent patents [3] - The subsidiary, Shengmei Chip, completed the design and production of several automotive-grade MEMS products, meeting stringent automotive standards [3] Strategic Initiatives - The company is preparing to establish a robotics division in response to market demands and existing technological capabilities [4] - An overseas business department was officially established in April 2024, focusing on market expansion in North America and Europe [4]