IPO News | Joyson Electronics (600699.SH) Reaches Customers Through HKEx to Reach Over 100 Global Car Brands

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on October 19, Ningbo Joyson Electronics Co., Ltd. (600699.SH) (hereinafter referred to as “Joyson Electronics”) passed the Hong Kong Stock Exchange main board listing hearing, with CICC and UBS Group as co-sponsors.

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 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.

Joyson Electronics' intelligent solutions support functions such as information interaction, environmental detection, analysis, decision-making and control to enhance driving experience and safety. The automotive electronics business focuses on intelligent interactive interfaces and domain control technology to achieve personalized experiences and seamless communication between vehicles and drivers, while the New Energy Management Systems Division uses intelligent energy management to improve charging performance and battery safety. In terms of automotive safety, Joyson Electronics uses monitoring and predictive analysis technology to achieve functions such as fatigue monitoring, adaptive safety response, and automatic protection measures (such as pre-collision adjustment).

Today, 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 3.2 million units in 2020 to 19 million units in 2024. This 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, thus bringing a large number of growth opportunities to Junsheng Electronics.

Joyson Electronics has built a platform to truly achieve simultaneous R&D and simultaneous configuration of supply chains, production and sales networks with global automakers. As of April 30, 2025, the company has more than 25 R&D centers and more than 60 production bases in China and overseas markets, covering major automotive markets in Asia, Europe and North America. In 2024, the company's overseas sales accounted for 74.7% of total revenue. Furthermore, the company ranked first in China's Top 100 Multinational Companies and the Multinational Index for four consecutive years from 2021 to 2024, reflecting the scale of the company's operations.

In addition, Joyson Electronics has a strong customer network around the world, and the business partnerships between the predecessor of some of its subsidiaries and several customers can be traced back more than 100 years. As of April 30, 2025, the company's 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 ending April 30, Joyson Electronics recorded revenue of approximately 49.793 billion yuan, 55.728 billion yuan, 55,864 billion yuan, and 19.709 billion yuan respectively. Profits for the same period were approximately 233 million yuan, 1,240 million yuan, 1,326 million yuan, and 491 million yuan, respectively.