New Stock News | Ningbo Joyson Electronic Corp. (600699.SH) conducted a hearing at the Hong Kong Stock Exchange, covering customers from over 100 global automotive brands.

According to the disclosure by the Hong Kong Stock Exchange on October 19, Ningbo Joyson Electronic Corp. Limited (600699.SH) (hereinafter referred to as "Ningbo Joyson Electronic Corp.") conducted a listing hearing on the main board of the Hong Kong Stock Exchange, with CICC and UBS Group serving as joint sponsors. The prospectus shows that Ningbo Joyson Electronic Corp. is a provider of intelligent automotive technology solutions, offering advanced products and solutions in key areas of the automotive components industry (mainly automotive electronics and automotive safety). The company focuses on research and development, manufacturing, and sales of automotive components, ranking forty-first in the global automotive components industry in 2024. According to Frost & Sullivan data, the company is the second largest automotive passive safety product supplier in China and globally based on revenue. The intelligent solutions of Ningbo Joyson Electronic Corp. support functions such as information interaction, environmental detection, analysis, decision-making, and control, enhancing driving experience and safety. The automotive electronics business focuses on smart interactive interfaces and domain control technology, enabling personalized experiences and seamless communication between vehicles and drivers, while the new energy management system division uses intelligent energy management to improve charging performance and battery safety. In terms of automotive safety, Ningbo Joyson Electronic Corp. utilizes monitoring and predictive analysis technology to achieve functions such as fatigue monitoring, adaptive safety response, and automatic protection measures (such as pre-collision adjustment). Today, many emerging new energy vehicle brands are rapidly emerging with disruptive intelligent electrification technology. According to Frost & Sullivan data, global sales of new energy vehicles have surged from 3.2 million vehicles in 2020 to 19 million vehicles in 2024. This market is expected to further increase from 23.4 million vehicles in 2025 to 40.7 million vehicles in 2029, with a compound annual growth rate of 14.9%. This trend presents opportunities and challenges for traditional vehicle manufacturers, driving them to embrace new technologies and solutions, thereby also bringing a lot of growth opportunities for Ningbo Joyson Electronic Corp. Ningbo Joyson Electronic Corp. has built a platform to synchronize research and development, supply chain configuration, production, and sales networks with global vehicle manufacturers. As of April 30, 2025, the company has over 25 research centers and over 60 production bases in China and overseas markets, covering major automotive markets in Asia, Europe, and North America. In 2024, the company's overseas sales accounted for 74.7% of total revenue. Additionally, the company has ranked first in the list of the top 100 multinational corporations and multinational index in China for four consecutive years from 2021 to 2024, reflecting the company's operational scale. Moreover, Ningbo Joyson Electronic Corp. has a strong customer network globally, with the predecessors of some subsidiary companies having business cooperation relationships with several customers dating back over a hundred years. As of April 30, 2025, the company's customers cover over 100 global automotive brands, including the top ten vehicle manufacturers in China and globally. In terms of financials, for the fiscal years 2022, 2023, 2024, and the four months ending on April 30, 2025, Ningbo Joyson Electronic Corp. recorded revenues of approximately RMB 49.793 billion, RMB 55.728 billion, RMB 55.864 billion, and RMB 19.709 billion respectively, with profits in the same periods of approximately RMB 2.33 billion, RMB 12.40 billion, RMB 13.26 billion, and RMB 4.91 billion respectively.