New stock news | Shenzhen Crystal Electronic Secondary Listing on the Hong Kong Stock Exchange is one of the companies that began mass production of high-power inverted LED products earliest.

According to the disclosure by the Hong Kong Exchange on August 23, Guangdong Jingke Electronics Co., Ltd. (referred to as Jingke Electronics) has submitted an application for listing on the main board of the Hong Kong Exchange, with CITIC SEC as the exclusive sponsor. The company had previously submitted an application to the Hong Kong Exchange on February 1st of this year. The prospectus shows that Jingke Electronics is a provider of intelligent visual products and system solutions covering smart vision for automobiles, high-end lighting, and new displays. The company is one of the first 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 application scenarios. The company's core technologies also include advanced white light encapsulation technology, advanced LED integration packaging technology, and high-end LED device packaging technology, all of which synergize and keep the company's technological capabilities at the forefront of global innovation. By leveraging industry insights and actively engaging in technological innovation, the company integrates LED technology with integrated circuits (IC), electronic control, software, sensors, and optics, owning various "LED+" technologies. The energy-saving and highly iterative "LED+" technologies further empower the company's intelligent visual products and systems, enabling penetration into high-value, high-growth markets. According to data from Zhoknowledge Consulting, based on revenue, the company ranks third among domestic device and module manufacturers in the high-end lighting industry in China, and fifth among all device and module manufacturers in the same industry, with a market share of 5.3% in 2023. In the high-end automotive intelligent vision industry in China, the company ranks fifth among domestic manufacturers and twelfth among all manufacturers in the same industry, with a market share of 0.5% in 2023. The company ranks fourth among domestic and all manufacturers in the Chinese LCD TV backlight display industry, with a market share of 9.1% in 2023. Financially, the company's revenues are approximately RMB 1.388 billion, RMB 1.411 billion, RMB 1.858 billion, RMB 625 million, and RMB 843 million in 2021, 2022, 2023, and the five months ended May 31, 2024, respectively. The profits within these periods are RMB 78 million, RMB 39.071 million, RMB 72.043 million, RMB 7.563 million, and RMB 32.173 million, respectively. It is worth noting that Jingke Electronics mentioned in the prospectus that the demand for their LED products depends on the trends and developments in their respective end products and end markets. The company offers a wide range of LED product portfolios that can be widely used in end products or targets such as automobiles and consumer electronics products. Therefore, the demand for the company's products largely depends on the trends and developments in the end product market. If the end product market fails to maintain strong growth, the company's business and profitability may be adversely affected. Moreover, the characteristics and definition of the end markets for the company's products are rapidly evolving technologies, frequent introduction of new product specifications, and continuously changing customer requirements. Therefore, the company's success depends on its ability to continuously improve its products and services, and timely and cost-effectively adapt and respond to technological developments. Failure to adapt to such changes may have a significant adverse impact on the company's business, operating performance, and financial condition.