Core Viewpoint - Shenzhen Huada Beidou Technology Co., Ltd. has submitted its prospectus to the Hong Kong Stock Exchange, positioning itself as a leading provider of space positioning services in China, particularly in the design of navigation positioning chips [1][3]. Group 1: Company Overview - Huada Beidou is a leading provider of GNSS (Global Navigation Satellite System) navigation positioning chips and modules, with significant advantages in dual-frequency high-precision positioning technology, low power consumption, and high integration SoC design technology [3]. - The company is the sixth largest GNSS space positioning service provider globally, with a market share of 4.8%, and is the fourth largest in terms of dual-frequency high-precision RF baseband integrated GNSS chips and modules [3]. Group 2: Product and Market Position - Huada Beidou's core products include standard and high-precision chips for consumer applications, high-precision chips for automotive and specialized applications, and Beidou short message satellite communication chips for consumer electronics and industry applications [3]. - The company holds a dominant position in the shared bicycle sector, with GNSS chip sales exceeding 15 million units, accounting for over 90% of the high-precision shared bicycle market [4]. Group 3: Financial Performance - The company has not yet achieved profitability, with reported losses of 92.61 million RMB, 289.16 million RMB, and 141.27 million RMB for the years 2022 to 2024, respectively [5][8]. - Revenue figures for the same period are 697.997 million RMB, 645.136 million RMB, and 840.286 million RMB, with a declining gross margin from 12% in 2022 to 9.8% in 2024 [6][7]. - Research and development expenses have increased, totaling 1.03 billion RMB, 1.1 billion RMB, and 1.18 billion RMB from 2022 to 2024, contributing to the company's losses [8].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued supplementary material requirements for seven companies, including Huada Beidou, regarding their overseas listing applications, highlighting specific areas that need clarification and legal opinions [1][2][3] Group 1: Company Overview - Huada Beidou Technology Co., Ltd. is a leading provider of spatial positioning services in China, empowered by the BeiDou satellite navigation system [3] - The company is headquartered in Shenzhen, China, and is a domestic leader in navigation positioning chip design, offering navigation positioning chips and modules that support BeiDou and major global GNSS systems [3] Group 2: Business Operations - The company's business scope includes the development and sales of navigation terminals, mobile communication terminal products, and related software, as well as manufacturing and sales of specialized instruments for navigation, surveying, meteorology, and oceanography [2] - Huada Beidou's main source of revenue comes from the sales of integrated chips and modules, with a need to clarify the duration of distribution contracts with major suppliers and the specific cooperation model [2] Group 3: Market Position - In 2024, Huada Beidou's GNSS chip and module shipment volume reached 16.1 million units, making it the sixth largest GNSS spatial positioning service provider globally and the second largest among all companies in mainland China, with a global market share of 4.8% [3] - The company ranks as the fourth largest GNSS spatial positioning service provider globally in terms of dual-frequency high-precision RF baseband integrated GNSS chips and modules shipment volume, holding the largest market share among mainland Chinese companies at 10.5% [3]

Core Viewpoint - Huada Beidou is a leading provider of space positioning services in China, empowered by the BeiDou satellite navigation system, with significant advantages in chip design and GNSS solutions [3][4]. Group 1: Company Overview - Huada Beidou is headquartered in Shenzhen, China, and specializes in navigation positioning chip design, offering chips and modules that support BeiDou and major global GNSS systems [3]. - The company is recognized as the sixth largest GNSS space positioning service provider globally and the second largest among domestic companies, holding a market share of 4.8% [3]. - In the dual-frequency high-precision RF baseband integrated GNSS chip and module segment, Huada Beidou ranks fourth globally and is the largest in China, with a market share of 10.5% [3]. Group 2: Product Offerings - The company provides a comprehensive range of GNSS chips, modules, and related solutions, catering to various applications including smart transportation, IoT, and meteorological monitoring [4]. - Core products include standard and high-precision chips for consumer electronics, automotive applications, and BeiDou short message satellite communication chips [4]. Group 3: Financial Performance - Revenue for the fiscal years 2022, 2023, and 2024 was approximately RMB 697.997 million, RMB 645.136 million, and RMB 840.286 million, respectively [5]. - The company reported net losses of approximately RMB 92.612 million, RMB 288.916 million, and RMB 141.269 million for the same periods [5]. - Gross profit figures were RMB 83.685 million, RMB 67.919 million, and RMB 81.967 million for 2022, 2023, and 2024, respectively [5].