Ningbo Joyson Electronic Corp.(00699) today announced the offering of shares with 7 cornerstone investors subscribing for approximately 107.1 million US dollars.

Ningbo Joyson Electronic Corp. (00699) will be listed from October 28, 2025 to November 3, 2025. They plan to globally issue 155.1 million H shares. The public offering in Hong Kong will account for 10%, while the international offering will be 90%, with an additional 15% over-allotment option. The offer price will not exceed HK$23.60 per share, with a minimum purchase of 500 shares. The H shares are expected to start trading on the Stock Exchange on November 6, 2025 at 9:00 am. The company has entered cornerstone investment agreements with JSC, Ningbo New Quality, Jump Trading, Zhongding Capital Phase VIII, China Post Financial Management, Vandi, and Fidelidade. The cornerstone investors have agreed to subscribe at the offer price for a total of approximately USD 1.071 billion in shares. Assuming the exercise of the over-allotment option, and assuming an offer price of HK$23.60 per share, the net proceeds from the global offering are estimated to be approximately HK$3.4585 billion. Around 35.0% is expected to be used for research and commercialization in the company's automotive intelligent solutions and cutting-edge technology to lead in the smart car technology industry. Approximately 5.0% will be used for the research and commercialization of L2+ and above advanced intelligent drive domain controllers. Another 5.0% will be allocated for the development and commercialization of 5G-A/5.5G intelligent network technology. Approximately 35.0% will be used for improving manufacturing capabilities, cost efficiency, and optimizing supply chain management. Around 10.0% will be used for expanding overseas business markets and collaborating with OEM customers. Another 10.0% will be for potential investments and acquisitions in complementary areas to strengthen the company's market position in the electrification and intelligence trends of the automotive industry. The company is a provider of intelligent automotive technology solutions, offering advanced products and solutions in key areas of the automotive components industry, primarily automotive electronics and safety. They are ranked 41st in the global automotive components industry in 2024. According to Frost & Sullivan, based on revenue, the company is the second largest automotive passive safety product supplier in China and globally. In the fiscal years 2023 and 2024, the company achieved revenues of 55.728 billion yuan and 55.864 billion yuan, with annual profits of approximately 1.24 billion yuan and 1.326 billion yuan respectively. In the first four months of 2025, the company achieved revenues of 19.707 billion yuan, with a profit of approximately 491 million yuan. Net profit has increased over the entire preceding period primarily due to revenue and margin growth from the sale of products and solutions.