According to a filing disclosed by the Hong Kong Stock Exchange on January 26, Ningbo Sunny Smart Drive Technology Co., Ltd. (referred to as Sunny Smart Drive) has submitted a listing application for the main board, with China International Capital Corporation (CICC) and CITIC Securities acting as joint sponsors. The prospectus reveals that Sunny Smart Drive is a globally leading automotive optical technology company, dedicated to becoming a key enabler for future smart mobility. The company specializes in providing automotive camera solutions, including intelligent perception and smart cockpit solutions; it is also continuously enriching its product portfolio by expanding into other automotive optical solutions such as lidar, in-cabin projection display systems, and intelligent lighting solutions. Leveraging its full-stack R&D platform, global supply chain integration capabilities, and an open cooperative ecosystem, the company comprehensively empowers intelligent vehicle perception and interaction, continuously enhancing the safety, comfort, and intelligent experience of human mobility. According to data from Frost & Sullivan, the company is one of the earliest global providers of optical solutions for automotive-grade applications and was also the first globally to develop ADAS camera solutions, consistently leading industry innovation. It is among the first companies worldwide to successfully commercialize 8M ADAS/ADS camera products and the earliest to complete the R&D of 17M ADS camera products, setting the definition and development standards for high-end products in the industry. The company is also one of the first globally to successfully develop AI Active Alignment (AIAA) equipment and integrated lidar transceiver Active Alignment (AA) equipment. Its proprietary AIAA equipment integrates additional vision technology and real-time information analysis capabilities. Furthermore, it is one of the few enterprises in the industry with the capability for independent R&D and large-scale commercialization of a full suite of automotive optical solutions, encompassing both automotive camera solutions and other automotive optical offerings.
Through years of dedicated focus in the field of automotive optical solutions, the company utilizes its full-stack R&D platform to continuously expand its product boundaries, having established a complete product value chain capability from optical components to product modules and further to system-level solutions. Automotive-grade certification is one of the most stringent qualification standards, typically involving a validation cycle lasting three to five years. The company has established a comprehensive quality management system to meet the strict industry standards of major regions. This rigorous certification process simultaneously consolidates the company's leadership position in the industry and supports its sustained business growth. As of September 30, 2025, the company's solutions have been adopted by 8 of the global top ten Tier-1 suppliers and 19 of the global top twenty OEMs. Being deeply embedded in the global automotive value chain allows the company to remain at the forefront of industrial innovation, thereby continuously driving customer success and strengthening long-term partnerships.
Based on 2024 shipment volume, the company's automotive camera solutions business scale ranked first globally, with a market share equivalent to the combined total of the next three competitors; in the fields of intelligent perception and smart cockpits, based on 2024 shipment volume, the company is the world's largest provider of intelligent perception and smart cockpit solutions; the company's automotive lenses have held the top global market share for 13 consecutive years. Financially, for the years ended December 31, 2023, and 2024, and for the nine months ended September 30, 2024, and 2025, Sunny Smart Drive achieved revenues of approximately RMB 5.262 billion, RMB 5.989 billion, RMB 4.456 billion, and RMB 5.146 billion, respectively. For the same periods, its profits for the period were approximately RMB 1.140 billion, RMB 1.272 billion, RMB 906 million, and RMB 972 million, respectively.
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