Ningbo Joyson Electronic Corp.600699.SH's A+H layout is approaching completion, will the combination of "automotive + Siasun Robot & Automation Tier1" ignite the new stock market with high growth potential?

With powerful growth genes and continuously meeting growth expectations, the hard technology company Ningbo Joyson Electronic Corp. (600699.SH) has shone brightly in the A-share market and is about to embark on a new journey of capital. On October 17, Ningbo Joyson Electronic Corp. announced that the Listing Committee of the Hong Kong Stock Exchange has reviewed the company's listing application. This means that Ningbo Joyson Electronic Corp. has passed the listing hearing on the main board of the Hong Kong Stock Exchange, and this "Automotive + Siasun Robot & Automation Tier 1" dual leading enterprise will soon land on the Hong Kong stock market. GMTEight noted that the company had previously filed for listing in Hong Kong with the Securities and Futures Commission, intending to issue no more than 283 million shares of overseas-listed common stock. After landing on the Hong Kong Stock Exchange, Ningbo Joyson Electronic Corp., which has completed both "A+H" listings, will undoubtedly have a significant impact on the global intelligent driving and Siasun Robot & Automation landscape, which is also expected to be an important topic of concern for global investors. Global Tier 1 "Automotive + Siasun Robot & Automation" Gold Content Ningbo Joyson Electronic Corp. is positioned as an "Automotive + Siasun Robot & Automation Tier 1" company, and is a global provider of intelligent automotive technology solutions. With over 20 years of focus on automotive electronics and automotive safety, the company has become the second largest independent automotive components supplier in China. Earlier this year, the Chairman of Ningbo Joyson Electronic Corp. announced a grand strategy of "re-entrepreneurship, innovation and progress," seizing industry trends with keen insight and strategically expanding into the entire industry chain of human-shaped Siasun Robot & Automation based on its deep accumulation in the field of automotive electronics. According to market research institution Frost & Sullivan, based on revenue in 2024, Ningbo Joyson Electronic Corp. is the second largest intelligent cockpit domain controller system provider in China and the fourth largest globally; in the field of automotive passive safety products, Ningbo Joyson Electronic Corp. also ranks second globally, accounting for about 30% of the global market share. In addition, Ningbo Joyson Electronic Corp. is also the first supplier in the world to mass-produce 5G-V2X, 800V high-voltage fast charging, and BMS products. From 2022 to 2024, Ningbo Joyson Electronic Corp. is expected to achieve revenues of 49.79 billion yuan, 55.728 billion yuan, and 55.864 billion yuan respectively, with attributable net profits of 394 million yuan, 1.083 billion yuan, and 960 million yuan. The data shows that Ningbo Joyson Electronic Corp. has customers covering over 100 global automotive brands, including the top ten automotive manufacturers in China and the world. Since the beginning of this year, Ningbo Joyson Electronic Corp.'s automotive intelligence business has entered a period of rapid harvest. According to the company's semi-annual report data, in the first half of the year, Ningbo Joyson Electronic Corp. achieved revenue of 30.347 billion yuan, an increase of 12% year-on-year; and a net profit of 700 million yuan, an increase of 11.13% year-on-year. During the first half of the year, Ningbo Joyson Electronic Corp. secured new orders worth around 31.2 billion yuan, with over 66% of these orders related to new energy vehicles, indicating that automotive intelligence business has become the core driver of the company's order growth. In the field of automotive intelligence, Ningbo Joyson Electronic Corp. continues to launch products and solutions such as intelligent cockpit, intelligent networking based on domestic and foreign multi-chip platforms, as well as integrated solutions for parking, vehicle integration, and central computing units. Ningbo Joyson Electronic Corp.'s leading position in the field of intelligent cockpit control continues to be strengthened. In the first half of the year, Ningbo Joyson Electronic Corp. successfully won the first regional controller project mass production order, providing regional controllers for more than a million vehicles for a well-known domestic new energy brand, with rapid mass production expected within the year. During this year's Shanghai Auto Show, Ningbo Joyson Electronic Corp. also unveiled the intelligent cockpit JaySpace+, which integrates dozens of innovative technologies, and an integrated cabin and driving solution jointly developed with Dongfeng Motors and BLACK SESAME has also entered the mass production stage. Furthermore, Ningbo Joyson Electronic Corp. has partnered with Momenta to jointly break through the domain controller project of a well-known domestic brand's intelligent assisted driving, with orders exceeding 1 billion yuan. In addition, Ningbo Joyson Electronic Corp. has made another major breakthrough in the field of cabin and driving integration, winning new automotive intelligence projects for two leading brand OEMs, and is expected to develop and provide central computing units (CCUs) integrating smart driving, intelligent networking, and intelligent cockpit, with a total order value of up to 15 billion yuan throughout the product lifecycle. Opening a Strong Second Growth Curve to Tap into Long-term Growth Space In recent years, the wave of intelligence and electrification has propelled the global automotive industry into a new era. As one of the few Chinese automotive components suppliers that have completed global layout, Ningbo Joyson Electronic Corp. has built a highly globalized platform, achieving simultaneous research and development, supply chain configuration, production, and sales network with global automakers. The globalization strategy focusing on local production support provides Ningbo Joyson Electronic Corp. with sufficient resilience to withstand industry fluctuations. Currently, Ningbo Joyson Electronic Corp. has over 25 research and development centers and more than 60 production bases globally, covering major automotive markets in Asia, Europe, and North America, with overseas sales accounting for 74.7% of total revenue in 2024. While consolidating its leading position in advantageous fields, as mentioned earlier, earlier this year, Ningbo Joyson Electronic Corp. also announced a comprehensive layout in the field of human-shaped intelligence, creating a second growth curve of "re-entrepreneurship." With the experience accumulated in the field of automotive components, Ningbo Joyson Electronic Corp. has essentially completed the assembly solution for Siasun Robot & Automation parts, and has successively launched solutions for Siasun Robot & Automation domain control, AI head assembly, energy management, sensor kits, exoskeletons, and other assembly solutions. GMTEight believes that Ningbo Joyson Electronic Corp.'s comprehensive technological accumulation in the fields of intelligent cockpit and autonomous driving allows it to replicate and migrate core technologies, such as vehicle-grade sensors fused with algorithms and precision actuator engineering capabilities, to the field of human-shaped intelligence. Therefore, in this sense, Ningbo Joyson Electronic Corp. is expected to rapidly develop a deep collaborative advantage in the field of electronic components for human-shaped Siasun Robot & Automation, combining technology, production, and group resources. Looking ahead, Ningbo Joyson Electronic Corp.'s layout in the field of Siasun Robot & Automation is expected to bring considerable incremental growth to the company. The latest news also shows that Ningbo Joyson Electronic Corp. has already cooperated with well-known Siasun Robot & Automation customers such as Intelligent Space, Galaxy General, and RIVR domestically and internationally, with products already delivered or in bulk supply, indicating rapid development in the company's Siasun Robot & Automation business. Looking back at Ningbo Joyson Electronic Corp.'s IPO in Hong Kong this time, according to its introduction, the company plans to use the funds raised for the research and commercialization of next-generation intelligent automotive solutions, enhancing production capacity, optimizing supply chain management, expanding overseas business development and investment, and mergers and acquisitions, in order to enhance its advantage position in the smart automobile technology industry. The author believes that Ningbo Joyson Electronic Corp.'s outstanding growth in its main business, combined with strategic development of a second growth curve, under dual drivers in the future, the company's growth sustainability and growth elasticity are expected to be strengthened, not to mention that after completing its listing on the Hong Kong Stock Exchange, I can expect Ningbo Joyson Electronic Corp.'s financing capability to also strengthen. It is foreseeable that the further deepening of Ningbo Joyson Electronic Corp.'s global layout will bring long-term substantial returns to investors.