IPO Plus - IPO

Name▼ / Code▼	Industry	Offer Price	Lot Size	Entry Fee	Closing Date	Grey Market Date▼	Listing Date▲
VOYAH Automotive 07489.HK	Automobile Manufacturers	N/A	1,000	N/A	N/A	Not applicable	2026/03/19
Delton Technology 01989.HK	Printed Circuit Boards	N/A	100	7,260.49	2026/03/17	2026/03/19	2026/03/20
Nsing Technologies 02701.HK	Printed Circuit Boards	N/A	200	2,181.78	2026/03/18	2026/03/20	2026/03/23
FS.COM 03355.HK	IT Consulting & Other Services	35.2-41.6	100	4,201.96	2026/03/18	2026/03/20	2026/03/23
New Vision Auto 02632.HK	Auto Parts & Equipment	42-48	50	2,424.20	2026/03/19	2026/03/23	2026/03/24
Galaxis Technology 02729.HK	Advanced hardware and software	16.4-20.4	200	4,121.15	2026/03/19	2026/03/23	2026/03/24

Name▼

Code▼

Industry

Offer Price

Lot Size

Entry Fee

Closing Date

Grey Market Date▼

Listing Date▲

VOYAH Automotive
07489.HK

Automobile Manufacturers

N/A

1,000

N/A

Not applicable

2026/03/19

Delton Technology
01989.HK

Printed Circuit Boards

N/A

100

7,260.49

2026/03/17

2026/03/19

2026/03/20

Nsing Technologies
02701.HK

Printed Circuit Boards

N/A

200

2,181.78

2026/03/18

2026/03/20

2026/03/23

FS.COM
03355.HK

IT Consulting & Other Services

35.2-41.6

100

4,201.96

2026/03/18

2026/03/20

2026/03/23

New Vision Auto
02632.HK

Auto Parts & Equipment

42-48

2,424.20

2026/03/19

2026/03/23

2026/03/24

Galaxis Technology
02729.HK

Advanced hardware and software

16.4-20.4

200

4,121.15

2026/03/19

2026/03/23

2026/03/24

Summary

We focus on HUD solutions. During the Track Record Period, we provided comprehensive solutions that are primarily centered on CyberLens, our windshield HUD (W-HUD) solution, and CyberVision, our augmented reality HUD (AR-HUD) solution, supplemented by testing solutions and other innovative visual technology initiatives. We collaborate with automotive OEMs in depth on joint development at solution definition stage, empowering new vehicle models with more immersive human-vehicle interactions and intelligent driving experience. Through our innovative solution offerings, we promote the evolution and market penetration of visual presentation and human-vehicle interaction for intelligent cockpit from 2D to 3D and AR. Leveraging our integrated and full-range proprietary technology architecture and production and quality control capabilities, we have established a development process under a user experience centric design philosophy. We offer our HUD solutions primarily to our OEM customers with consistent performance, high reliability, efficient delivery, flexible customization and cost-effectiveness. We believe the value propositions that we offer meet OEM needs for value-for-money, agile and differentiated competitive advantages in the intelligent vehicle market, while bringing end users a safer, smarter, more personalized and technologically advanced driving experience. Our Integrated and Full-Range Proprietary Technology Architecture We have built an integrated and full-range proprietary technology architecture that integrates hardware and software capabilities across optical design, mechanical engineering, electronics design, software algorithms and human-machine interface (HMI), coupled with rigorous verification and validation processes. Our technology architecture encompasses core competencies in HUD solutions with unique capabilities that create sustainable market differentiations. ‧ Optical Design: Optical design capability is the cornerstone of our technological excellence. We possess comprehensive optical path layout and design capabilities, achieving precise analysis and optimization of optical systems through our proprietary algorithm plug-ins. Additionally, we conduct complex analyses, including dynamic distortion visualization, stray light simulation and sunlight backflow simulation to ensure imaging quality and reliability. Our outstanding optical design capabilities result in solutions with smaller dynamic distortion and binocular parallax and superior performance parameters, achieving optimal dynamic effects. We also actively explore next-generation technologies, including holographic optics, diffractive optics, micro-nano optics and waveguides, positioning us at the forefront of automotive optical innovation to address evolving industry demands while continuously redefining performance standards. ‧ Mechanical Engineering: Our mechanical engineering capabilities have enabled platform-based design for transmission and optical-mechanical systems. Through optimal design and deployment of various system structures within limited vehicle space, we achieve compact integration of components while avoiding interference with other parts. We are dedicated to solving mechanical pain points in HUD solutions, including heat dissipation, vibration resistance, durability and adaptability. Our platform-based mechanical engineering significantly increases component commonality. The component sharing percentage reaches over 60% for CyberLens while that of CyberVision exceeds 65%, which greatly enhances development efficiency and cost-effectiveness. We utilize advanced design tools and simulation analysis to conduct strength and modal analyses, ensuring the reliability of mechanical engineering. ‧ Electronics Design: We have a comprehensive electronics design platform adaptable to different types of HUD solutions. Our solutions are designed to have excellent compatibility with controllers, optical PGUs and other components. During the design process, we emphasize component selection and ensure component quality, with over 90% of our electronic components achieving platform- based development. We employ advanced design tools, simulation analyses and component performance testing to guarantee quality and reliability of electronics design. ‧ Software Algorithm Development: We have accumulated profound expertise in software algorithm development, covering algorithms throughout the HUD solution chain from input to execution to output. We are the first HUD solution provider in China to introduce Automotive SPICE (ASPICE), an international standard framework used in the automotive industry to assess and improve the capabilities of software development and systems engineering processes, for HUD development according to CIC. We have built a proprietary software algorithm development platform with comprehensive development tools, fully meeting international OEMs’ strict assessment requirements for automotive software algorithm process capabilities. To satisfy the diverse needs of different users, we have conducted in-depth research on various computing platforms, possessing capabilities across multiple graphic development platforms with high code reusability and stable architecture. We maintain leading advantages in the implementation of functional features, such as height adjustment, brightness adjustment and AR fusion algorithms, providing users with immersive interactive experience and high- performance functional support. ‧ HMI Design: As one of the front-runner in China’s automotive HMI design, we embrace “scenario-defined interaction” as our core concept. We implement driving- scenario-native design, which is supported by the high integration of optical design and driving scenarios as well as comprehensive innovations in hardware, software and interaction logic. Through deep collaboration with multiple mainstream OEMs, we have built full-chain capabilities from technology R&D to scenario implementation, creating a more intuitive HMI experience. Our HMI design technology layout focuses on optical system innovation, driving in-vehicle HMI to evolve from functional displays to intelligent and personalized interactions. ‧ Verification and Validation: We have established a comprehensive verification and validation platform with comprehensive equipment and automated tools, providing full visual application verification and validation capabilities. Leveraging such capabilities, we have improved verification and validation efficiency and accuracy, ensuring our solutions reliably meet user needs and expectations. Source: New Vision Auto (02632) Prospectus (IPO Date : 2026/03/16)
Listing Market	MAIN
Industry	Auto Parts & Equipment
Background	H Shares
Major Business Area	N/A

Corporate Information

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