Core Viewpoint - Lingyi Zhizao has submitted an application for an H-share IPO on the Hong Kong Stock Exchange to enhance its investment in AI hardware and intelligent manufacturing sectors [1][6]. Company Overview - Lingyi Zhizao is an AI hardware intelligent manufacturing platform company founded in 2006, listed on the Shenzhen Stock Exchange in 2018, and aims to provide one-stop intelligent manufacturing services globally [2][4]. - The company specializes in precision components, structural parts, and modules, with applications in AI terminal devices, robotics, enterprise servers, automotive, and low-altitude economy sectors [2]. Financial Performance - The company's revenue for 2022, 2023, 2024, and the first three quarters of 2025 were CNY 345.03 billion, CNY 341.54 billion, CNY 442.60 billion, and CNY 375.90 billion respectively, with net profits of CNY 15.60 billion, CNY 20.14 billion, CNY 17.61 billion, and CNY 19.66 billion [4][5]. - The gross profit margin has shown fluctuations, with 19.8% in 2022, 18.7% in 2023, and 14.4% in 2024, indicating a need for improved cost management [5]. Market Position - According to Frost & Sullivan, Lingyi Zhizao ranks first in the global AI terminal device high-precision components market and third in the AI terminal device intelligent manufacturing platform market [4][6]. - The global market for high-precision intelligent manufacturing platforms is projected to grow from USD 262.8 billion in 2020 to USD 301.9 billion in 2024, with a compound annual growth rate (CAGR) of 3.5% [6]. Strategic Initiatives - The company plans to enhance its R&D capabilities, production capacity, and core manufacturing processes through the IPO proceeds, focusing on AI computing servers, humanoid robot hardware, and AI optical communication infrastructure [7]. - Lingyi Zhizao aims to acquire advanced automation equipment to expand production lines, improving performance, functionality, and energy efficiency to meet the growing demand for key components [7].

Core Viewpoint - Lingyi Zhizao has submitted an application for an H-share IPO on the Hong Kong Stock Exchange, aiming to enhance its investment in AI hardware and intelligent manufacturing sectors [1][2]. Group 1: Company Overview - Lingyi Zhizao is an AI hardware intelligent manufacturing platform company, established in 2006 and listed on the Shenzhen Stock Exchange in 2018, providing one-stop intelligent manufacturing services and solutions globally [1][2]. - The company focuses on emerging applications such as humanoid robots, AI glasses, extended reality devices, foldable screens, and servers [2]. Group 2: Financial Performance - According to the prospectus, Lingyi Zhizao's revenue for 2022, 2023, 2024, and the first three quarters of 2025 were CNY 34.50 billion, CNY 34.15 billion, CNY 44.26 billion, and CNY 37.59 billion respectively [3][4]. - The net profit figures for the same periods were CNY 1.56 billion, CNY 2.01 billion, CNY 1.76 billion, and CNY 1.97 billion respectively [3][4]. Group 3: Market Position - Based on Frost & Sullivan data, Lingyi Zhizao ranks first in the global AI terminal device high-precision components market and third in the global AI terminal device high-precision intelligent manufacturing platform market as of 2024 [3]. - The company has established itself as a key player in the AI hardware ecosystem, serving major clients in the AI terminal device, new energy vehicle, and social networking sectors [3].

Core Viewpoint - The company, Lingyi Technology, has submitted an application for an H-share IPO on the Hong Kong Stock Exchange to enhance its investment in AI hardware and intelligent manufacturing sectors [2][9]. Group 1: Company Overview - Lingyi Technology is an AI hardware intelligent manufacturing platform established in 2006 and listed on the Shenzhen Stock Exchange in 2018, providing one-stop intelligent manufacturing services and solutions globally [2][4]. - The company focuses on humanoid robots, AI computing servers, and terminal devices, having achieved mass production in robot assembly and developed core technologies such as servo motors and motion controllers [4][9]. Group 2: Market Position and Financial Performance - According to Frost & Sullivan, Lingyi Technology ranks first in the global AI terminal device high-precision components market and third in the AI terminal device high-precision intelligent manufacturing platform market [5]. - The company's revenue for 2022, 2023, 2024, and the first three quarters of 2025 was 34.50 billion, 34.15 billion, 44.26 billion, and 37.59 billion RMB, respectively, with net profits of 1.56 billion, 2.01 billion, 1.76 billion, and 1.97 billion RMB [5][6]. Group 3: Market Trends and Growth Opportunities - The global high-precision intelligent manufacturing platform market is projected to grow from $262.8 billion in 2020 to $301.9 billion in 2024, with a compound annual growth rate (CAGR) of 3.5% [8]. - The company aims to enhance its R&D capabilities and production capacity through the IPO, focusing on AI computing servers, humanoid robot hardware, and AI optical communication infrastructure to capture emerging market opportunities [9].

Group 1 - The latest stock price of Lingyi iTech is 10.03 yuan, with an increase of 0.02 yuan from the previous trading day. The trading volume reached 1,801,905 hands, with a transaction amount of 1.798 billion yuan. The intraday high was 10.08 yuan, and the low was 9.86 yuan, resulting in a fluctuation of 2.20% [1] - The company specializes in the consumer electronics sector, offering products such as precision functional parts, structural components, and modules. Recently, the company acquired a 66.46% stake in Jiangsu Keda for 332 million yuan through a combination of convertible bonds and cash, marking its entry into the automotive trim industry. Jiangsu Keda has established stable partnerships with major automakers like Chery Automobile, SAIC Group, and BYD [1] - Apple plans to launch a foldable iPhone in 2026, which is expected to drive the development of the foldable screen supply chain. Lingyi iTech is involved in the research and development of flexible display technology and hinge structures for foldable screen hardware, positioning the company to potentially enter this supply chain [1] - The company announced that there are currently no overdue external guarantees [1] Group 2 - Data on capital flow indicates a net outflow of 100.0525 million yuan on the day, with a cumulative net outflow of 187.0742 million yuan over the past five days [2]