Desay SVDI listed on the Hong Kong Stock Exchange and released MiniLED car-mounted curved dual screens

On April 12, Huizhou Desay SV Automotive Electronics Co., Ltd. ("Desay SV") submitted a listing application to the Hong Kong Stock Exchange. The prospectus shows that the company is positioned as a mobile intelligent technology platform enterprise, with its business focusing on the field of smart cars and extending to a wider range of smart application scenarios.

In terms of business layout, Desay SV has formed a product and service system covering smart cockpits and smart driving. Its customers cover more than 80 OEMs around the world, and it has basically reached the major automotive markets.

In terms of products, the company has launched dual 23.6-inch Mini LED car curved dual screens, using the Mini LED backlight solution provided by Longli Technology. The product has 1,536 partitions, a dynamic contrast ratio of more than 100,000:1 and R2200 curvature. It is mainly aimed at improving the immersive experience of car displays.

From the perspective of performance, from 2023 to 2025, Desay SV achieved revenue of 21.908 billion yuan, 27.618 billion yuan and 32.557 billion yuan respectively, and net profits of 1.542 billion yuan, 2.018 billion yuan and 2.473 billion yuan.

Among them, the smart cockpit business revenue in 2025 will be 20.585 billion yuan, a year-on-year increase of 12.92%; the smart driving business revenue will be 9.7 billion yuan, a year-on-year growth of 32.63%. The two accounted for 63.23% and 29.79% of the total revenue respectively.

In terms of market share, the installed base of smart cockpit domain controllers will reach 1.563 million units in 2025, accounting for approximately 16.1%; in the field of intelligent driving, the global market share of high computing power domain controller products in the first half of 2025 will be approximately 26.1%. The company's customers include Xiaomi, Chery, Volkswagen, Toyota and other mainstream car companies.

Performance growth is closely related to the expansion of order scale. Desay SV said that the increase in orders in 2025 will drive output to increase by 39.71% year-on-year and sales volume to increase by 30.14%, thereby promoting profit improvement. Net profit for the year will increase by 22.38% year-on-year. However, with the expansion of business scale and increased investment in new technologies, the company's demand for funds has also increased simultaneously.

Previously in September 2025, Desay SV completed a fixed increase of approximately 4.399 billion yuan to optimize production capacity layout and promote new product research and development, including the construction of Chengdu Intelligent Computing Center and other projects to support the computing power needs of high-end intelligent products.

At the same time, the company continues to promote globalization and has established 16 branches in Germany, France, Spain, Japan, Singapore and other places. Among them, the Spanish smart factory has been capped in 2025 and is expected to be put into production in 2026, which is expected to enhance its localized supply and service capabilities in the European market.