During the process of listing in the US, Frost & Sullivan mainly undertook the following tasks: helping the issuer accurately and objectively understand its positioning in the target market, using objective market data to discover, support, and highlight the issuer's competitive advantages, assisting the issuer, sponsor, and other professional intermediary institutions in completing the relevant parts of the prospectus (such as overview, competitive advantages and strategy, industry overview, business, and other important sections), facilitating communication with NASDAQ and investors, helping investors quickly understand the market ecosystem and competitive landscape, and assisting the issuer in completing feedback on industry-related issues from NASDAQ.
Investment highlights
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Based on the business revenue from intelligent cockpit services in 2020, the company is one of China's top five providers of intelligent cockpit products;
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The company's ecosystem GKUI, which is deeply customized and developed for Geely Automobiles, has been installed on multiple models under the Geely Automobile Group. As of the end of 2020, it had approximately 2.4 million active users, accounting for a market share of 24.6%.
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The company has launched products such as in-vehicle entertainment systems, digital cockpits, and system-on-chip computing modules. In addition, it has invested in the field of automotive-grade chips, creating a rich product matrix from hardware to software around automotive intelligence.
Global and China's Intelligent Cockpit Market Size
The global intelligent cockpit market size grew from $19.3 billion in 2015 to $29.4 billion in 2020, with a compound annual growth rate of 8.8%. Driven by the growing demand for automotive intelligence among downstream consumers and favorable policies from governments around the world targeting the new energy vehicle industry, it is expected that the global intelligent cockpit market size will further grow to $53.9 billion by 2025, with a compound annual growth rate of 12.9% from 2020 to 2025. Due to the further deepening application of 5G, big data, and OTA technology, China's share in the global intelligent cockpit market increased from 22.5% in 2015 to 25.7% in 2020, and is expected to rise further to 26.4% by 2025.
Source: Frost & Sullivan report
Analysis of the Market Competition Pattern of Intelligent Cockpits in China
In 2020, the top ten Chinese local intelligent cockpit suppliers accounted for 55.5% of the market share. The company's revenue from intelligent cockpockets in China in 2020 was approximately $350 million, with a market share of about 4.7%, making it the fifth largest intelligent cockpit supplier in China.
Analysis of the Driving Forces for the Intelligent Cockpit Market
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Consumers' demand for smart cars is growing day by day
Consumers have higher requirements for the configuration and functions of intelligent cockpits, including safety, intelligent control, human-machine interaction, entertainment, etc. Intelligent cockpits can realize a human-machine interface and an intelligent driving experience, providing consumers with safer, more comfortable, and smarter driving solutions.
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Technological development supports intelligent upgrading
The continuous application of new technologies such as 5G communication infrastructure construction, cloud computing, and artificial intelligence has continuously upgraded intelligent cockpits. These cockpits meet the needs for real-time multi-dimensional data interaction and low network latency, thereby improving the level of cockpit intelligence and greatly promoting the development of the intelligent cockpit industry.
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Resource integration and business model upgrade
The traditional cockpit industry chain is mainly based on the needs of vehicle manufacturers. However, the intelligent cockpit industry chain has shown an integrated trend. Vehicle manufacturers, traditional parts suppliers, and internet companies are actively expanding their integrated business of intelligent cockpit solutions, with vehicle manufacturers leading the development of in-vehicle information service systems.
Frost & Sullivan has extensive research experience in the automotive and transportation industry, assisting well-known companies in successfully listing on capital markets. Successful listings include: BuYang International (2457.HK), Newton Group (NWTN.NASDAQ), Zhongxin Innovation Aviation (3931.HK), Leapmotor (9863.HK), DBS China (2418.HK), Kuaidou Taxi (2246.HK), NIO (NIO.SGX), NIO (9866.HK), Canggang Railway (2169.HK), YGMZ (YGMZ.NASDAQ), Asia Express (8620.HK), InfinityL&T (1442.HK), TOMOHOLDINGS (6928.HK), EH (EH.NASDAQ), Aodima (8418.HK), Xiangxing International (8157.HK), CIMC Vehicle (1839.HK), Xunlong (1930.HK), CSSC Leasing (3877.HK), Chengdu Expressway (1785.HK), Tianrui Automotive Interior (6162.HK), Baren Holdings (2885.HK), Huazi International (2258.HK), Pulin Chengshan (1809.HK), NIO (NIO.NYSE), Wanlida (8482.HK), Qilu Expressway (1576.HK), Yingheng Technology (1760.HK), Asia Industry (1737.HK), Ruifeng Power (2025.HK), Gaomeng Technology (8065.HK), Hebei Yichen (1596.HK), Zhengli Holdings (8283.HK), Junao Holdings (8035.HK), Yade Group (1585.HK), 1H Rental Car (EHIC.NYSE), Xincheng Power (1148.HK), Zhengxing Wheels (ZX.NYSE), Shuanghua Holdings (1241.HK), Changfeng Axles (1039.HK).
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*The above order is not sequential and is arranged in reverse chronological order based on listing time.
