A-share subscription | Easyview (688816.SH) starts subscription. By 2024, its market share in machine vision products for the production of complete vehicles in the Chinese automobile industry reached 22.5%.

On February 2nd, Easyvision (688816.SH) started its subscription, with an issue price of 55.95 yuan per share and a subscription limit of 60,000 shares. The price-to-earnings ratio is 90.39 times, and it belongs to the Shanghai Stock Exchange. Guotou Securities is its sponsor institution. The prospectus disclosed that Easyvision focuses on the research, development, production, and sales of machine vision equipment for automobile manufacturing, providing machine vision solutions for various process steps in the manufacturing of whole vehicles and components, and is the leading domestic "small giant" enterprise in this field, breaking the long-term monopoly of foreign manufacturers and accelerating the digitalization process of domestic automobile manufacturing. In addition, the company has also expanded its business layout in the field of rail transit operation and aviation, continuously exploring new application scenarios. By the end of 2024, the company's products have been widely used in mainstream joint venture brands such as FAW-Volkswagen, SAIC Volkswagen, GAC Toyota, SAIC General Motors, Beijing Mercedes-Benz, traditional independent brands such as BYD Company Limited, JAC Motors, Chery, GAC, Dongfeng, new forces brands such as ZD, NIO, Ideal, Xiaomi, XPeng, as well as internationally renowned automotive component companies such as Hayes-Lemmerz, Casma, Benteler, Top, Huaxiang, and Huizhong. In recent years, the company's products have also been exported and applied in major global factories of international companies such as B company, Volvo, Rivian, while also being applied in overseas factories of domestic leading car companies such as BYD Company Limited and Chery. According to Frost & Sullivan's statistics, by 2024, the company's market share in China's automotive machine vision products has reached 22.5%, surpassing foreign manufacturers such as Israea and Besser, ranking first in the industry, and being the only Chinese enterprise with annual revenue exceeding one billion yuan in this field. In terms of finance, in 2022, 2023, and 2024, the company achieved operating income of approximately 223 million yuan, 355 million yuan, and 392 million yuan respectively; while the net profit for the same period was approximately 5.1042 million yuan, 57.7648 million yuan, and 84.5153 million yuan respectively. In its prospectus, Easyvision pointed out that the loss in the first half of 2025 was mainly due to seasonal factors. Due to the industry practice of "year-end settlement" in the domestic automotive industry, the company's sales revenue is mainly concentrated in the fourth quarter. Overall, despite the seasonal impact, the company's net profit attributable to the parent company shareholders, after deducting non-recurring gains and losses, was -10.1159 million yuan, a significant decrease compared to the same period last year. In the second half of the year, as the company's projects are completed and income is confirmed, it is expected to maintain a high level of profitability for the whole year.