Core Viewpoint - Junsheng Electronics is pursuing an IPO in Hong Kong, aiming to enhance its position in the automotive electronics and safety systems market through strategic investments and technological advancements [2][21]. Company Overview - Junsheng Electronics, founded in 2004 in Ningbo, Zhejiang, initially focused on automotive interior and exterior functional components. It successfully went public in A-shares in 2011 through a reverse merger [10][11]. - The company has transformed into the world's second-largest automotive safety system supplier after a series of global acquisitions, including PREH in 2011 and KSS in 2016 [11]. Financial Performance - The revenue for Junsheng Electronics was RMB 49.793 billion in 2022, RMB 55.728 billion in 2023, and is projected to be RMB 55.864 billion in 2024. The annual profit figures were RMB 2.33 billion, RMB 12.4 billion, and RMB 13.2 billion for the respective years [18][20]. Management Team - The board of directors consists of ten members, including four executive directors, two non-executive directors, and four independent non-executive directors. The term for directors is three years, with the possibility of re-election [13][15]. Future Plans and Fund Utilization - The company plans to focus on smart automotive technology, electric vehicle advancements, and global integration to optimize cost structures and operational efficiency [21][22]. - The funds raised from the IPO will be allocated to research and development of automotive intelligent solutions, including cockpit and driving domain controllers, as well as 5G-A/5.5G smart networking technology [24][25]. Market Potential - The global market for intelligent cockpit domain control systems reached RMB 52.3 billion in 2023 and is expected to grow to RMB 183 billion by 2028, with a compound annual growth rate of 21.5% starting from 2025 [26]. - The global market for automotive power electronics is projected to reach RMB 147.1 billion by 2028, driven by the transition to higher voltage platforms in electric vehicles [30]. Strategic Acquisitions - The company is actively seeking investment and acquisition opportunities in areas such as smart vehicles, advanced sensors, and artificial intelligence integration in automotive systems to strengthen its market position in the electric and intelligent automotive trends [36].