IPO News | Joyson Electronics (600699.SH) filed for the second time, and the Hong Kong Stock Exchange ranked 41st in the global auto parts industry in 2024

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on August 7, Ningbo Joyson Electronics Co., Ltd. (600699.SH) (hereinafter referred to as “Joyson Electronics”) submitted the Hong Kong Stock Exchange main board, with CICC and UBS Group as co-sponsors. The company submitted a statement to the Hong Kong Stock Exchange on January 16.

According to the prospectus, Joyson Electronics is a smart car technology solution provider, providing advanced products and solutions in key areas of the auto parts industry (mainly automotive electronics and car safety). The company's business focuses on R&D, manufacturing and sales of auto parts, and ranked 41st in the global auto parts industry in 2024. According to Frost & Sullivan data, the company is the second-largest supplier of automotive passive safety products in China and the world in terms of revenue.

The following table shows Junsheng Electronics' market position and global layout:

Joyson Electronics has built a highly global platform. As of April 30, 2025, the company has more than 25 R&D centers and more than 60 production bases around the world, covering major automotive markets in Asia, Europe and North America. The company's globalization strategy has proven to be effective, with overseas sales accounting for 74.7% of total revenue in 2024. Furthermore, the company ranked first in China's Top 100 Multinational Companies and the Multinational Index for four consecutive years from 2021 to 2024.

The wave of intelligence and electrification is driving the global automotive industry into a new era. A large number of new energy vehicle brands are rapidly emerging with disruptive intelligent electrification technology. According to Frost & Sullivan, global sales of new energy vehicles soared from 33.2 million units in 2020 to 19 million units in 2024. The market is expected to increase further from 23.4 million vehicles in 2025 to 40.7 million vehicles in 2029, with a CAGR of 14.9%. This trend also brings opportunities and challenges to traditional automakers, and pushes them to embrace new technologies and solutions. Smart cockpits, intelligent driving, and other user-oriented smart features have become key considerations in consumer decisions, leading global automakers to pay more and more attention to smart car technology. These trends have also brought numerous growth opportunities for Joyson Electronics.

On the customer side, as of April 30, 2025, Joyson Electronics' customers covered more than 100 global car brands, including the top ten Chinese and global automakers.

On the financial side, in 2022, 2023, 2024, and 2025 for the four months ended April 30, Joyson Electronics recorded revenue of approximately RMB 49.793 billion, RMB 55.728 billion, RMB 55,864 billion, and RMB 19.709 billion respectively. Profits for the same period were approximately RMB 233 million, RMB 1,240 million, RMB 1,326 million and RMB 491 million, respectively.

According to the risk factors section of the prospectus of Junsheng Electronics, if the company's products and solutions cannot adapt to the evolution of the automotive industry, the company's business, financial situation and operating performance may be significantly adversely affected.