New Stock News | The IPO prospectus of Crystal Electronic Hong Kong Stock Exchange has become invalid, as one of the companies in China that started mass production of high-power reverse-mounted LED products.

Guangdong JHK Electronics Co., Ltd. (referred to as "JHK Electronics") submitted its Hong Kong IPO prospectus on February 1, 2024, which expired on August 1, six months after submission, with CITIC SEC as its sole sponsor at the time of submission. According to the prospectus on February 1st, JHK Electronics is a leading Chinese provider of intelligent vision products and system solutions integrating "LED+" technology. The company's professional fields cover automotive intelligent vision, high-end lighting, and new displays. Leveraging industry insights and forward-looking technological strategies, the company integrates LED technology with integrated circuits, electronic control, software, sensors, and optics, to have various "LED+" technologies. The company's green, energy-saving, and high-speed iterative "LED+" technologies further empower its intelligent vision products and systems, enabling the company to penetrate high-value and high-growth markets. According to data from Insight Consultancy, based on revenue, the company ranked third among domestic manufacturers of devices and modules in the high-end lighting industry in China in 2022 and for the nine months ending on September 30, 2023, and fifth among domestic manufacturers in the high-end automotive intelligent vision industry. According to the same data source, based on revenue, the company ranked fifth and fourth respectively among domestic manufacturers in the liquid crystal TV backlight display industry in China in 2022 and for the nine months ending on September 30, 2023. The company passed product verification and production facility audit procedures conducted by most leading domestic and foreign enterprises in the automotive intelligent vision, high-end lighting, and new display businesses. According to data from Insight Consultancy, the LED intelligent vision industry has a huge global market size (calculated at $179.7 billion in revenue in 2022), and China stands out as the largest and most complete cluster of automotive manufacturing, lighting, and liquid crystal TV industries in the world. After a long development stage, the Chinese LED intelligent vision industry is accelerating concentration. Fierce competition in the mid-to-low-end product market, cost reduction and efficiency enhancement have become the main drivers of industry growth. The emergence of "LED+" technology, which combines LED technology with integrated circuits, electronic control, software, sensors, and optics, is rapidly changing the landscape of the high-end LED intelligent vision industry. This technological revolution is currently at the core of the advancement of high-end LED products. The automotive intelligent vision, high-end lighting, and new display markets are the most unsaturated and promising markets in the industry, with the greatest potential for technological advancement and development. According to data from Insight Consultancy, JHK Electronics is one of the first companies in China to mass-produce high-power flip-chip LED products. After years of research and technological accumulation, the company has developed a series of flip-chip LED technologies for different applications. The company's basic technologies also include advanced white light encapsulation technology, advanced LED integrated packaging technology, and high-end LED device packaging technology, with all technologies developing synergistically and the company's technical capabilities consistently ranking among the global innovation leaders. In terms of finance, JHK Electronics achieved revenues of approximately RMB 1.388 billion, RMB 1.411 billion, and RMB 1.339 billion in 2021, 2022, and for the nine months ending on September 30, 2023, respectively; during the same periods, it achieved annual/period profits of approximately RMB 78 million, RMB 39.071 million, and RMB 49.568 million respectively.