New stock news | Ningbo Joyson Electronic Corp. (600699.SH) filed with the Hong Kong Stock Exchange. The company is the second largest in China and the fourth largest in the world in the intelligent cockpit domain control system provider.

According to the disclosure on the Hong Kong Stock Exchange on January 16, Ningbo Joyson Electronic Corp. Limited (600699.SH) (hereinafter referred to as "Ningbo Joyson Electronic Corp.") has submitted an IPO application to the Main Board of the Hong Kong Stock Exchange, with CICC and UBS Group as the joint sponsors. According to the prospectus, the company is a leading global provider of intelligent automotive technology solutions, offering advanced products and solutions in key areas of the automotive industry (mainly including automotive electronics and automotive safety). According to Frost & Sullivan, based on revenue in 2023, the company is the second largest in China and the fourth largest globally in the field of intelligent cockpit domain controllers, as well as the second largest in China and globally in automotive passive safety products. According to the same source, based on revenue in 2023, the company is the second largest independent automotive parts supplier in China. As of September 30, 2024, the company has 19 research and development centers and over 50 production bases worldwide, covering major automotive markets in Asia, Europe, and North America. In addition, the company's products and solutions cover major automotive domains including cockpit domain, intelligent driving domain, connected domain, power domain, and body domain. The company integrates its technological capabilities in automotive safety, domain controllers, new energy management systems, and human-machine interaction to promote synergies between different domains, thereby developing comprehensive products and solutions, such as the cabin-drive fusion domain controller and central computing unit (CCU) that provide comprehensive functions covering intelligent driving, intelligent cockpit, and connectivity. The IPO prospectus indicates that the funds raised this time are expected to be used for research and commercialization of next-generation automotive intelligent solutions and cutting-edge technologies, enhancing the company's leadership position in the intelligent automotive technology industry, seizing the transformative opportunities in the downstream automotive industry. It also aims to improve the company's production capacity, optimize its supply chain management, increase cost efficiency, expand its overseas business market share, and collaborate with OEM customers to achieve overseas expansion. On the financial front, as of the nine months ended on September 30 in 2022, 2023, and 2024, Ningbo Joyson Electronic Corp. recorded revenues of approximately 49.793 billion, 55.728 billion, and 44.135 billion RMB respectively, with profits of approximately 2.33 billion, 12.40 billion, and 12.63 billion RMB during the same period.