New Stock News | Smart driving supplier Yinjia Technology files with the Hong Kong Stock Exchange, gross margin recovers to 17.8% in the first half of 2026.

According to a disclosure by the Hong Kong Stock Exchange on September 27, Shanghai Yinjia Electronic Technology Co., Ltd. (abbreviated as: Yinjia Technology) has submitted an application for listing to the Main Board of the Hong Kong Stock Exchange, with Guotai Junan Financing Limited as its sole sponsor. Company Overview Yinjia Technology is an intelligent solutions provider focusing on the R&D and sales of intelligent driving, intelligent cockpit, and general Siasun Robot&Automation solutions and products, and leveraging the company's integrated and cross-domain technologies in visual perception, multi-sensor fusion positioning and navigation, as well as planning and control. According to Frost & Sullivan, based on 2025 revenue, the company ranks ninth among all intelligent driving and visual safety solutions providers in China, and fifth among domestic suppliers in the same market. Yinjia Technology became a member of the China Society of Automotive Engineers in 2021 and a member of the China Association of Automobile Manufacturers in 2022. In addition, the company participated in the formulation of multiple guidelines and standards, such as industry guidelines related to software-defined vehicle service application interfaces and group standards related to electronic exterior rearview mirrors. In 2024, the company was recognized by the Ministry of Industry and Information Technology as a "Specialized, Refined, Distinctive, and Innovative Little Giant Enterprise." Yinjia Technology maintains long-term cooperation with globally leading OEMs, and the company's solutions and products have been deployed in multiple vehicle models of these customers. During the track record period, by sales volume, its solutions and products have been applied to vehicle models of all top ten OEMs in China, as well as vehicle models of seven of the global top ten OEMs. Financial Information Revenue For 2023, 2024, 2025, and the six months ended June 30, 2026, the company's revenue was approximately RMB 111 million, RMB 229 million, RMB 481 million, and RMB 336 million, respectively. Gross Profit For 2023, 2024, 2025, and the six months ended June 30, 2026, the company's gross profit was approximately RMB 22.432 million, RMB 22.839 million, RMB 59.264 million, and RMB 59.989 million, respectively. Gross Margin For 2023, 2024, 2025, and the six months ended June 30, 2026, the company's gross margin was 20.3%, 10%, 12.3%, and 17.8%, respectively. Loss for the Period For 2023, 2024, 2025, and the six months ended June 30, 2026, the company's loss for the period was approximately RMB 46.76 million, RMB 108 million, RMB 95.758 million, and RMB 35.086 million, respectively. Industry Overview Against the backdrop of the intelligent transformation of the automotive industry, China's intelligent driving solutions market has maintained rapid growth. It climbed from RMB 45.7 billion in 2021 to RMB 197.3 billion in 2025, with a compound annual growth rate of 44.1% during the period. Driven jointly by strengthened active safety configurations, differentiated competition among OEMs, and rising consumer safety awareness, more intelligent driving functions are rapidly trickling down from mid-to-high-end vehicle models to mass-market models, and are continuously being optimized in terms of perception accuracy, system stability, and adaptability to complex scenarios. China's intelligent driving solutions market will also continue its steady growth trajectory, reaching RMB 553 billion in 2030. Over the next five years, ADAS will continue to be a mainstream configuration for automotive intelligence. It is expected that by 2030, the global ADAS penetration rate will reach approximately 70%, and the penetration rate in the Chinese market will reach approximately 80%. As L2 and above intelligent driving functions are gradually applied at scale, intelligent driving will penetrate from differentiated configurations of high-end vehicle models to a broader range of vehicle models and price ranges, and application scenarios will also extend from basic functions such as adaptive cruise control and lane keeping to complex scenarios such as highway NOA, urban NOA, and intelligent parking. The continuous expansion of functional complexity and application scenarios will further raise vehicles' requirements for environmental perception, computing, decision-making, and control capabilities, and drive demand growth for intelligent driving solutions such as cameras, domain controllers, algorithm software, and multi-sensor fusion, providing a demand foundation for the continued expansion of the intelligent driving solutions market. At the level of intelligent cockpit solutions, China's intelligent cockpit market has continued to expand. By revenue, the market size grew from RMB 68.6 billion in 2021 to RMB 173.6 billion in 2025, with a compound annual growth rate of 26.1% from 2021 to 2025. As intelligent functions continue to penetrate more vehicle models and intelligent cockpit functions develop toward multimodal interaction, intelligent display, and other directions, the market is expected to maintain growth, reaching RMB 358.6 billion by 2030, with a compound annual growth rate of 15.1% from 2026 to 2030. The market size of China's cockpit visual safety products grew from RMB 2 billion in 2021 to RMB 11.8 billion in 2025. Looking ahead, as new energy vehicles continue to become more widespread and the level of automotive intelligence continues to rise, application scenarios such as driver and passenger state monitoring, environmental perception, and visual safety warnings will be further deepened, driving continued growth in demand for cockpit visual safety products. It is expected that by 2030, the market size of China's cockpit visual safety products will reach RMB 44.6 billion, with a compound annual growth rate of 27.0% from 2026 to 2030. Board of Directors Information The board of directors consists of eight directors, including four executive directors, one non-executive director, and three independent non-executive directors. Shareholding Structure As of the latest practicable date, Hangjia holds all equity interests in Wenjie Wuhu. Under the Securities and Futures Ordinance, Hangjia is deemed to have an interest in the shares held by Wenjie Wuhu. As of the latest practicable date, Mr. Chen Yinren, an executive director, chief executive officer, and chairman of the board of directors of the company, holds 49.99% equity interest in Hangjia, Ms. Liu holds 33.33% equity interest, and Mr. Chen Yinyuan holds 16.68% equity interest. On September 14, 2026, Mr. Chen Yinren, Mr. Chen Yinyuan, and Ms. Liu (collectively, the "Concerted Action Parties") entered into a concerted action agreement, pursuant to which they confirmed that since January 22, 2019, they have been acting in concert with respect to the management and operation of the Group, and agreed to continue to act in concert, provided that if consensus cannot be reached, they shall act in accordance with the decisions of Mr. Chen Yinren. The concerted action agreement will remain effective until the earlier of the date on which any party no longer directly or indirectly holds any equity interest in the Company, or the date on which all parties agree to terminate the concerted action agreement. Under the concerted action agreement and the Securities and Futures Ordinance, the Concerted Action Parties collectively have an interest in the shares held by Wenzheng Zhicheng, Wenjie Wuhu, and Shanghai Bijie. Shanghai Bijie is controlled by Bijie Yunfan as its general partner, and Bijie Yunfan holds approximately 63.98% of the partnership interests in Shanghai Bijie. Bijie Yunfan is in turn controlled by Mr. Chen Yinren as its general partner, and Mr. Chen Yinren holds approximately 0.1% of the partnership interests in Bijie Yunfan. In addition, 19.57% of the equity interests in Shanghai Bijie are held by Bijie Canghai, whose general partner is Mr. Chen Yinren, who holds approximately 0.1% of the partnership interests in Bijie Canghai. As of the latest practicable date, none of the limited partners of Shanghai Bijie holds 30% or more of its partnership interests. Intermediary Team Sole Sponsor: Guotai Junan Financing Limited Company Legal Advisors: Zhou Junxuan Law Firm (in association with Commerce & Finance Law Offices), Commerce & Finance Law Offices Legal Advisors to the Sole Sponsor: Morgan, Lewis & Bockius LLP, Shanghai AllBright Law Offices Auditor and Reporting Accountant: Ernst & Young Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch Compliance Advisor: Eddid Capital Limited