Shenzhen Huada Beidou Technology Co., Ltd. (referred to as "Huada Beidou") recently updated its prospectus and is preparing to list on the Hong Kong Stock Exchange.
Huada Beidou once planned to go public on the A-share market, but ultimately turned to the Hong Kong Stock Exchange.
Annual revenue of 1 billion yuan, net profit of 110 million yuan
Huada Beidou is headquartered in Shenzhen and is a spatial positioning service provider empowered by the Beidou satellite navigation system. Huada Beidou provides navigation and positioning chips and modules that support Beidou and major global GNSS systems, as well as GNSS related solutions.
Huada Beidou provides a comprehensive range of GNSS chips, modules, and related solution combinations that cover multiple fields of applications. It also offers integrated chip module products and sells a wide range of communication and storage product combinations, which are essential components for various electronic devices.
The core products of Huada Beidou include standard precision and high-precision chips applied in the field of mass consumption, high-precision chips applied in professional and special application fields such as automobiles and transportation, and Beidou short message satellite communication chips applied in the field of mass consumer electronics and industry application fields.
Huada Beidou's GNSS chips, modules, and related solutions are aimed at fields such as shared bicycles, intelligent driving, smartphones, smart wearable devices, the Internet of Things, meteorological detection, and deformation monitoring. They can achieve accurate and efficient navigation positioning, position tracking, displacement monitoring, and satellite communication functions.
According to the prospectus, Huada Beidou's revenue for 2023, 2024, and 2025 will be 645 million yuan, 840 million yuan, and 1.014 billion yuan, respectively; The gross profit was 67.92 million yuan, 81.97 million yuan, and 112 million yuan respectively;
Huada Beidou will incur operating losses of 287 million yuan, 142 million yuan, and 113 million yuan in 2023, 2024, and 2025, respectively; The losses during the period were 289 million yuan, 141 million yuan, and 113 million yuan, respectively.
Huada Beidou's adjusted net losses for 2023, 2024, and 2025 are 274 million yuan, 120 million yuan, and 74.68 million yuan, respectively; Adjusted EBITDA were -249 million, -91.25 million, and -45.46 million yuan, respectively;
As of December 31, 2025, Huada Beidou held cash and cash equivalents of RMB 447 million.
Zhongdian Optics Valley, BYD, and Gree are shareholders
The executive directors of Huada Beidou are Sun Zhongliang and Lu Wei, while the non-executive directors are Li Qian, Duan Xiaojian, Ms. Lin Ying, and Ms. Guo Jinxiang; The independent non-executive directors are Ms. Wang Changying, Ms. He Hongtian, and Ms. Shen Chen.
Prior to the IPO, affiliated entities of China Electronics Corporation (CEC) held 9.224% of the shares through CEC Optics Valley (Shenzhen), 1.261% through CEC Zhongjin Fund, and 0.758% through Shenzhen CEC Port;
Tianjin Jiutian Tree holds 6.441% of the shares, Hangzhou Hongyu holds 1.894% of the shares, Shenzhen Dingxin holds 7.236% of the shares, and Suzhou Zhaoying Yunteng holds 7.052% of the shares; Jiaxing Qibi holds 5.022% of the shares, with 3.051% held through Jiaxing Qixin, 1.516% held through Jiaxing Qibi, and 0.455% held through Jiaxing Qixin No.2;
Shenzhen Jinjia and Ningbo Bo Bo hold 4.635% of the shares respectively, Hainan Beidou Qihang holds 4.186% of the shares, BYD holds 4.12% of the shares, and Jiaxing Chuangqi Kaiying holds 0.048% of the shares; Yuhua Hangxin Beichen, Hangtou Yuhua, and Tianjin Shunying hold 3.915% of the shares, with Yuhua Hangxin Beichen holding 2.475%, Tianjin Shunying holding 1.061%, and Hangtou Yuhua holding 0.379%.
Zhuhai Gree Venture Capital holds 3.536% of the shares; Common Home Venture Capital holds 1.820% of the shares, Shenzhen Yuanjing holds 1.138%, Bosch Venture Capital holds 2.953%, Gongqingcheng Beidou Shouhang holds 2.666%, Hainan Yunfeng Fund holds 2.273%, and CSSC Smart Ocean holds 1.895%;
Guangdong Lifeng Chuangxin holds 1.001% of the shares, Guangdong Lifeng Hengyuan holds 0.683% of the shares, Guangdong Xinhong No.1 holds 0.137% of the shares, Shanghai Shangqi Venture Capital and Shanghai SAIC Venture Capital hold 1.778% of the shares respectively, Jiaxing Guangge holds 1.422% of the shares, Fuzhou Xinyin No.2 holds 1.414% of the shares, and Civil Aviation Ground Air Interconnection Venture Capital holds 1.159% of the shares;
China Electronics Technology Corporation's core technology holds 1.138% of the shares, Yangzhou Ganyi holds 0.003%, Guokai Technology Venture Capital holds 1.138%, Guangdong Rongchuang Lingyue holds 1.137%, Gongqing Chengbei Douhui Hang holds 0.932%, Shenzhen Hongyuan Taifu No.1 holds 0.861%, Jiaxing Jingwei holds 0.853%, and Shanghai Jintan holds 0.758%;
Guanghetong Investment and Jiaxing Jiaoxin Yuheng hold 0.695% of the shares respectively, Tongxiang Wuzhen Jiayu holds 0.683%, Shenzhen Jiaxin No.1 holds 0.606%, Hainan Zhengge holds 0.569%, Nanchang Qingying holds 0.379%, Shenzhen Kangyue Tongqin holds 0.322%, Shanghai Dongxi holds 0.228%, Zhuhai Growth Win Win holds 0.197%, and Shenzhen Baiqian holds 0.076%.
