New Stock News | Shuanglin submits application to Hong Kong Stock Exchange as China's largest automotive seat HDM supplier

According to the Hong Kong Stock Exchange's disclosure on September 24, Shuanglin Co., Ltd. (abbreviated as: Shuanglin (300100.SZ)) has submitted a listing application to the main board of the Hong Kong Stock Exchange, with CITIC Securities and GF Securities as joint sponsors. The prospectus shows that Shuanglin is a global leader in the manufacturing of intelligent components for transmission and drive systems. With strong innovation and manufacturing capabilities, the company provides high-quality products to domestic and international automotive markets, including (i) intelligent components for transmission and drive systems, including transmission components, new energy drive systems, and hub bearing components; and (ii) interior and exterior trims. Among these, the intelligent components for transmission and drive systems business is the company's strategic focus. In addition to automotive components such as transmission components, new energy power systems, and hub bearing components, the company has successfully extended its product portfolio to key components of humanoid robot drive systems and the low-altitude economy sector, leveraging technological commonality and process compatibility. According to Frost & Sullivan, based on 2024 revenue, Shuanglin is (i) the second-largest supplier of automotive seat horizontal drive motors (HDM) globally, with a global market share of 15.1%, and the largest supplier of automotive seat HDM in China, with a market share of 32.8%; (ii) the ninth-largest supplier of hub bearings globally, with a global market share of 2.2%, and the third-largest supplier of hub bearings in China, with a market share of 6.9%; and (iii) the largest manufacturer of small electric drive systems for new energy vehicles globally, with market shares of 6.4% and 9.5% in the global and Chinese markets, respectively. In terms of finances, for the fiscal years 2022, 2023, 2024, and the six months ending June 30, 2024 and 2025, Shuanglin achieved revenues of approximately RMB 4.185 billion, RMB 4.139 billion, RMB 4.910 billion, RMB 2.103 billion, and RMB 2.525 billion, respectively; during the same periods, the profits were RMB 75.909 million, RMB 81.938 million, approximately RMB 498 million, approximately RMB 249 million, and approximately RMB 287 million, respectively.