(於中華人民共和國註冊成立的股份有限公司) [編纂] 獨家保薦人、[編纂] 智通财经AVP获悉，据港交所1月19日披露，杭州云动智能汽车技术股份有限公司司(以下简称：云动智能向两步交所主板递交上市申请书，中金公司为其独家 。 在俄罗斯、根据弗蒂斯特沙利文报告，云或智能是中国军莱智能的挑戰秩天天家行业的领先国产生货商。云切智能的解决万案对汽车行业向软件足义 的转型全美重要,而该趋势止推动看AG、5G、卫星迪信等先波迪信技术的需求增长,同时年联网技术的应用亦自益活 CICC 中国公司 Hangzhou Yodosmart Automotive Techn 杭州雲動智能汽車技術股份有限 [編纂]的[編纂]數目 : 「編纂]股H股(視乎[ 「編纂]數目 : [编纂]股H股(可予[ [編纂]數目 [编纂]股H股(可予[ : 而定) 每股[编纂][编纂]港 最高[編纂] ： 0.0027%證監會3 交易費及0.00015 時以港元繳足, 每股H股人民幣1.00 : 面值 [编纂] [编纂] : ...

Group 1 - The core point of the news is that Junsheng Electronics has experienced a continuous decline in stock price, dropping 1.44% to 30.16 yuan per share, with a total market value of 467.71 billion yuan and a cumulative decline of 7.8% over the past five days [1] - Junsheng Electronics, established on August 7, 1992, and listed on December 6, 1993, is primarily engaged in providing smart automotive technology solutions, with its main business segments including automotive safety systems (62.53% of revenue), automotive electronic systems (27.53%), and others [1] - The company operates mainly in the domestic market and has five business divisions, including automotive safety systems, automotive electronic systems, automotive parts, weighing instruments, and other segments [1] Group 2 - From the perspective of fund holdings, Huatai Bairui Fund has a significant position in Junsheng Electronics, with the Smart Driving Fund holding 429,000 shares, accounting for 3.78% of the fund's net value, ranking as the ninth largest holding [2] - The Smart Driving Fund, established on February 9, 2021, has a current scale of 395 million yuan and has reported a year-to-date return of 9.97% and a one-year return of 47.37% [2] - The fund manager, Tan Hongxiang, has been in position for nearly five years, with the fund's total asset scale at 35.161 billion yuan and a best return of 115.43% during his tenure [3]

Group 1 - The core point of the news is that Junsheng Electronics has experienced a decline in stock price, dropping 2.92% to 30.60 CNY per share, with a total market capitalization of 474.54 billion CNY and a cumulative drop of 6.45% over four consecutive days [1] - Junsheng Electronics, established on August 7, 1992, and listed on December 6, 1993, is primarily engaged in providing smart automotive technology solutions, with its main business segments including automotive safety systems (62.53% of revenue), automotive electronics systems (27.53%), and other segments [1] - The company operates mainly in the domestic market and has five business divisions, including automotive safety systems, automotive electronics systems, automotive parts, weighing instruments, and other segments [1] Group 2 - According to data from the top ten holdings of funds, one fund under Fuan Da has a significant position in Junsheng Electronics, holding 49,300 shares, which accounts for 1.18% of the fund's net value, ranking as the third-largest holding [2] - The Fuan Da fund has incurred a floating loss of approximately 10.4 thousand CNY during the four-day decline, with a current floating loss of about 4.54 thousand CNY [2] - The Fuan Da fund, established on September 8, 2021, has a total scale of 145 million CNY, with a year-to-date return of 4.25% and a one-year return of 32.33% [2]

Group 1 - The core viewpoint of the news is that Junsheng Electronics has shown significant stock performance and financial growth in 2023, with a notable increase in share price and market capitalization [1][3]. - As of December 30, Junsheng Electronics' stock price increased by 2.05% to 30.34 CNY per share, with a total market capitalization of 47.05 billion CNY [1]. - The company has experienced a year-to-date stock price increase of 96.83%, with a recent 3.94% rise over the last five trading days [1]. Group 2 - Junsheng Electronics, established on August 7, 1992, and listed on December 6, 1993, specializes in providing smart automotive technology solutions, operating in five business segments [2]. - The main revenue sources for Junsheng Electronics are automotive safety systems (62.53%), automotive electronic systems (27.53%), and other segments [2]. - As of September 30, the company reported a revenue of 45.84 billion CNY for the first nine months of 2025, reflecting a year-on-year growth of 11.45% [3]. Group 3 - The company has distributed a total of 1.53 billion CNY in dividends since its A-share listing, with 862 million CNY distributed over the past three years [4]. - As of September 30, 2025, the number of shareholders increased by 38.21% to 126,500, while the average circulating shares per person decreased by 28.33% [3][4]. - Major shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 26.29 million shares, and Southern CSI 500 ETF, which reduced its holdings by 307,400 shares [4].

Core Viewpoint - Junsheng Electronics experienced a stock price decline of 2.06% on November 21, 2023, with a current price of 25.71 CNY per share and a total market capitalization of 39.87 billion CNY [1] Financial Performance - For the period from January to September 2025, Junsheng Electronics reported a revenue of 45.84 billion CNY, reflecting a year-on-year growth of 11.45%, and a net profit attributable to shareholders of 1.12 billion CNY, which is an increase of 18.98% compared to the previous year [3] Shareholder Information - As of September 30, 2025, the number of shareholders increased to 126,500, up by 38.21%, while the average circulating shares per person decreased by 28.33% to 10,710 shares [3] - The company has distributed a total of 1.53 billion CNY in dividends since its A-share listing, with 862 million CNY distributed over the past three years [4] Business Segments - Junsheng Electronics operates primarily in five business segments: - Automotive Safety Systems (62.53% of revenue) - Automotive Electronics Systems (27.53% of revenue) - Other segments (9.44% and 0.49%) [2] Market Activity - The stock has seen a year-to-date increase of 66.80%, but has declined by 4.81% over the last five trading days and 19.86% over the last 20 days [1] - The company has appeared on the stock market's "Dragon and Tiger List" twice this year, with the most recent occurrence on September 17 [1] Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited is the second-largest circulating shareholder, holding 93.02 million shares, an increase of 26.29 million shares from the previous period [4] - Southern CSI 500 ETF and E Fund CSI Artificial Intelligence Theme ETF have reduced their holdings, while Yongying Advanced Manufacturing Smart Selection Mixed Fund has exited the top ten circulating shareholders [4]

Core Viewpoint - Ningbo Joyson Electronic Corp. (referred to as "Joyson Electronics", 00699.HK) was listed on the Hong Kong Stock Exchange today, opening below the issue price at HKD 21.5 and closing at HKD 20.24, representing an 8% decline from the issue price [1][4]. Summary by Relevant Sections Share Issuance and Capital Structure - The total number of shares offered globally by Joyson Electronics was 155,100,000 H-shares, with 15,510,000 shares allocated for public offering in Hong Kong and 139,590,000 shares for international offering [2]. - After the listing, the total number of issued shares (before the exercise of the over-allotment option) was 1,550,770,563 [2]. Pricing and Proceeds - The final issue price was set at HKD 22.00, resulting in total proceeds of HKD 3,412.2 million. After deducting estimated listing expenses of HKD 159.7 million, the net proceeds amounted to HKD 3,252.5 million [4][5]. Use of Proceeds - Approximately 35% of the net proceeds is expected to be used for research and commercialization of automotive intelligent solutions and cutting-edge technologies to enhance leadership in the smart automotive technology sector [5]. - Another 35% is anticipated to improve manufacturing capabilities and cost efficiency, as well as optimize supply chain management [5]. - About 10% is planned for expanding overseas market share and collaborating with vehicle manufacturers for international expansion [5]. - An additional 10% is earmarked for potential investments and acquisitions in targets that complement the business in terms of technical expertise, operations, and brand profile, aiming to strengthen market position in the electrification and intelligence trends in the automotive industry [5]. - The remaining 10% is designated for working capital and general corporate purposes [5]. Cornerstone Investors - Key cornerstone investors include JSC, Ningbo New Quality, Jump Trading, Zhongding Capital Phase 8, China Post Fund, Vandi, and Fidelidade [6].

Core Viewpoint - Junsheng Electronics officially launched its Hong Kong IPO on October 28, with plans to list on the Hong Kong Stock Exchange under the stock code "0699" on November 6, aiming to become a dual-listed "automotive + robotics Tier 1" leader in both A-share and H-share markets [1] Group 1: IPO Details - The global issuance scale for Junsheng Electronics is set at 155 million H-shares, with 15.51 million H-shares available for public offering in Hong Kong and approximately 140 million H-shares for international offering, subject to adjustments based on demand and over-allotment options [1] - The maximum offer price is set at HKD 23.60 per share [1] Group 2: Company Overview - Established in 2004, Junsheng Electronics focuses on automotive electronics and safety, providing cross-domain solutions for OEM clients across key automotive domains including cockpit, intelligent driving, connectivity, power, and body [1] - By 2024 revenue projections, Junsheng Electronics ranks 41st among global automotive parts companies, is the second largest in China, and the fourth largest globally in intelligent cockpit domain control systems, as well as the second largest in the automotive passive safety sector [1] Group 3: Use of Proceeds - The funds raised from the IPO will be allocated towards the development and commercialization of automotive intelligent solutions and cutting-edge technologies, upgrading smart manufacturing, optimizing the supply chain, expanding overseas operations, and potential investments and acquisitions [2]

Core Viewpoint - The ongoing trend of A-share companies listing in Hong Kong continues, with Junsheng Electronics being the latest to initiate its IPO, aiming to join the "A+H" market strategy [2][4]. Group 1: Company Overview - Junsheng Electronics plans to globally issue approximately 155 million H-shares, with 15.51 million shares available for public offering in Hong Kong and around 140 million shares for international placement [2]. - The company specializes in intelligent automotive technology solutions, focusing on the research, manufacturing, and sales of automotive components, particularly in automotive electronics and safety [4]. - Junsheng Electronics ranks 41st in the global automotive parts industry and is the second-largest supplier of passive safety products in China and globally, based on revenue [4]. Group 2: Financial Details - The expected maximum offer price for Junsheng Electronics is HKD 23.60 per share, with anticipated net proceeds from the global offering of approximately HKD 3.4585 billion [3]. - The allocation of net proceeds includes approximately 35% for R&D and commercialization of automotive intelligent solutions, 35% for improving manufacturing capabilities and supply chain management, 10% for expanding overseas market share, 10% for potential investments and acquisitions, and the remaining 10% for working capital and general corporate purposes [3]. Group 3: Timeline and Market Impact - The subscription period for Junsheng Electronics runs from October 28 to November 3, with H-shares expected to begin trading on the Hong Kong Stock Exchange on November 6 [4]. - The company has established cornerstone investment agreements with several investors, committing to a total of approximately USD 107.1 million for the shares being offered [2].

Core Viewpoint - Junsheng Electronics (0699.HK), a provider of smart automotive technology solutions, is launching an IPO from October 28 to November 3, aiming to raise up to HKD 3.66 billion with a maximum share price of HKD 23.6 per share [1] Fundraising and Allocation - The company is offering 155 million H-shares, with 10% allocated for public offering in Hong Kong and 90% for international placement [1] - The net proceeds from the IPO will be allocated as follows: approximately 35% for R&D and commercialization of automotive smart solutions and cutting-edge technologies; about 35% for enhancing manufacturing capabilities and cost efficiency, as well as optimizing supply chain management; around 10% for expanding market share in overseas markets and collaborating with OEM clients for international expansion; approximately 10% for potential investments and acquisitions in targets that complement the company's technical expertise, operational capabilities, and brand profile; and about 10% for working capital and general corporate purposes [1] Listing and Entry Costs - The expected listing date for the shares is November 6, with a minimum entry fee of HKD 11,919.01 for one board lot of 500 shares [1] - Joint sponsors for the IPO include China International Capital Corporation and UBS Group [1]

Core Viewpoint - Junsheng Electronics is launching its Hong Kong IPO, aiming to become a dual-listed leader in the automotive and robotics sectors, with a global offering size of 155 million H-shares and a maximum offer price of HKD 23.60 per share [1][3]. Group 1: IPO Details - The IPO period for Junsheng Electronics runs from October 28 to November 3, with the listing date set for November 6 under the stock code "0699" on the Hong Kong Stock Exchange [1]. - The global issuance includes 15.51 million shares for public offering in Hong Kong and approximately 140 million shares for international placement, subject to adjustments [1]. Group 2: Fund Utilization - Proceeds from the IPO will be allocated to the development and commercialization of automotive intelligent solutions, smart manufacturing upgrades, supply chain optimization, overseas business expansion, and potential investments and acquisitions [3][4]. Group 3: Company Overview - Established in 2004, Junsheng Electronics specializes in automotive electronic and safety solutions, covering key automotive domains such as cockpit, intelligent driving, connectivity, power, and body [3]. - According to a report by Sullivan, Junsheng ranks 41st among global automotive parts companies by revenue in 2024, and is the second-largest supplier of intelligent cockpit control systems in China and the fourth globally [3]. Group 4: Financial Performance - Junsheng Electronics has shown consistent growth in profitability, with a projected revenue of approximately CNY 55.9 billion and a net profit of about CNY 1.28 billion for 2024, reflecting a 1.8 percentage point increase in gross margin to 16.3% [4]. - For the first half of 2025, the company expects revenue of around CNY 30.35 billion, a year-on-year increase of 12.07%, with a net profit of CNY 708 million [4][5]. Group 5: Global Expansion and Client Base - Junsheng Electronics has established over 25 R&D centers and 60 production bases across major automotive markets in Asia, Europe, and North America, implementing a "Local for Local" strategy [5]. - By 2024, overseas revenue is expected to account for 74.7% of total revenue, with a client base exceeding 100 global automotive brands, including the top ten manufacturers [5]. Group 6: Growth Opportunities - The company is experiencing a surge in orders in the automotive intelligentization and robotics sectors, benefiting from the global shift towards smart electric vehicles [6]. - Junsheng has secured significant orders, including over one million units for regional controllers and approximately CNY 15 billion in lifecycle orders for cockpit integration solutions [6]. Group 7: Robotics Business Development - Junsheng Electronics is expanding its business into robotics, having established key component solutions and partnerships with leading companies in the field [7]. - The company plans to upgrade its operations to become a "Tier 1" supplier in both automotive and robotics sectors, with core products already in production [7].