New Stock News | New Contemplation Motor Secondary Iteration HKEX Imaging Motor Field Domestic Substitute Leader

According to the disclosure of the Hong Kong Stock Exchange on July 5th, Xin Si Kao Motor Co., Ltd. (Xin Si Kao Motor) submitted an application for listing on the main board of the Hong Kong Stock Exchange, with China International Capital Corporation and Huatai International as its joint sponsors. The company had previously submitted a listing application to the Hong Kong Stock Exchange on January 4, 2026. Company Overview According to the prospectus, Xin Si Kao Motor was established in 2014 and is one of the leading manufacturers of micro-precision motors and pioneers in the field of imaging motors in China. It has established strong professional capabilities and proprietary technologies throughout the entire industry chain, covering aspects such as material performance improvement, manufacturing processes, and strict product quality control. The company has strategically positioned production bases in "Jiaxing + Hefei" and R&D bases in "China + Japan", enabling the company to continuously expand its business boundaries and maintain a long-term competitive advantage with advanced products. According to Frost & Sullivan data, based on revenue in 2025, the company ranks sixth globally and second in China in the imaging motor market, with market shares of 3.3% and 9.8% respectively. In the optical image stabilization (OIS) imaging motor field, the company ranks fourth globally and first in China, with market shares of 5.6% and 14.0% respectively based on 2025 revenue. The company focuses on two main categories of products: imaging products and non-imaging products. Based on technological principles, the company's imaging products include voice coil motors, piezoelectric motors, and shape memory alloy (SMA) motors, mainly used in camera modules for smartphones, handheld imaging devices, security surveillance, machine vision systems to achieve functions such as autofocus, optical image stabilization, aperture adjustment, and zooming. Non-imaging products mainly include stepper motors (motors that move in fixed steps without the need for external sensors for precise position control) and brushless DC motors. These are widely used in smart homes, drones, automotive electronics, and Siasun Robot & Automation, among other areas, and have been deployed in applications such as floor cleaning robots, security surveillance, and automotive electronics. The company is also expanding into emerging fields such as Siasun Robot & Automation and low-altitude economy. Financial Information Revenue In the fiscal years 2023, 2024, 2025, and the four months ending April 30, 2026, the company achieved revenues of approximately RMB 855 million, RMB 1.565 billion, RMB 1.957 billion, and RMB 694 million, respectively. Net (Loss) / Profit for the Year For the fiscal years 2023, 2024, 2025, and the four months ending April 30, 2026, the company's net (loss) / profit for the year was approximately a loss of RMB 30 million, a profit of RMB 105 million, a profit of RMB 120 million, and a profit of RMB 36 million, respectively. Gross Profit In the fiscal years 2023, 2024, 2025, and the four months ending April 30, 2026, the company's gross profit was approximately RMB 71 million, RMB 249 million, RMB 326 million, and RMB 111 million, respectively. Industry Overview The global micro motor market is a specialized and technologically advanced segment within the motor industry that has experienced strong growth. Core drivers include the explosive demand in downstream sectors such as new energy vehicles, consumer electronics, and industrial automation, as well as technological upgrades such as optical image stabilization (OIS) and brushless motors that enhance product value. Global "carbon neutrality" policies and energy efficiency standards are driving the penetration of high-efficiency products. Emerging scenarios such as humanoid robots and the Internet of Things are also creating additional growth opportunities. Multiple factors are collectively driving market expansion. According to Frost & Sullivan data, the global micro motor market size increased from $230 billion in 2020 to $352 billion in 2025, with a historical compound annual growth rate of 8.9%. The market is forecasted to maintain this growth and reach $536 billion by 2030, with a forecasted compound annual growth rate of 8.3% from 2026 to 2030. This growth trajectory highlights the increasing importance of micro motors as key components of high-value functions in a wide range of products. When divided into imaging and non-imaging applications, the growth in imaging applications surpasses the overall market, with a compound annual growth rate of 10.3%, while the non-imaging applications have a compound annual growth rate of 8.5%. Imaging applications are expected to continue their strong performance, with a forecasted compound annual growth rate of 8.0%, while non-imaging applications are at 8.3%. This sustained differential growth underscores the increasing importance of micro motors in various non-imaging scenarios and advanced imaging systems. Specifically, in terms of downstream industry applications of micro motors, smartphones and automobiles dominate the market in China, while areas such as handheld imaging devices and Siasun Robot & Automation are experiencing rapid growth. China has established itself as a significant market for the manufacturing and consumption of micro motors globally, and this is expected to strengthen further. The Chinese micro motor market significantly increased from $9.2 billion in 2020 to $15 billion in 2025, with a compound annual growth rate of 10.2%. The market is forecasted to reach $23.6 billion by 2030, with a forecasted compound annual growth rate of 9.2% from 2026 to 2030. This growth has led to China's share in the global micro motor market increasing from around 40.1% in 2020 to 42.5% in 2025. This share is predicted to further consolidate to around 44.4% by 2030. In addition to global factors driving this growth, the Chinese micro motor market has benefited from a complete domestic industry chain, advantages in new energy vehicles and smart manufacturing, explosive domestic demand, and export growth. Policy support has accelerated domestic substitution, and the global expansion of domestic enterprises has made them a core engine for global market growth. From the perspectives of imaging and non-imaging applications, the Chinese micro motor market shows higher growth rates in imaging application scenarios. The market size increased from $1.5 billion in 2020 to $2.7 billion in 2025, with a compound annual growth rate of 12.6%. It is expected to grow to $4.4 billion by 2030, with a compound annual growth rate of 10.3%. Non-imaging applications rely on large domestic demand in areas such as automobiles, smart homes, and industrial automation, providing a solid foundation for market growth. In terms of downstream industry applications, smartphones and automobiles remain the main components of the Chinese micro motor market. The medical and handheld imaging industries are experiencing rapid growth, while the application of Siasun Robot & Automation industry as an important emerging scenario has shown strong growth potential in recent years. Board of Directors Information The board of directors will consist of seven directors, including three executive directors, one non-executive director, and three independent non-executive directors. Shareholding Structure As of the last practicable date (June 28, 2026), Dr. Cai Rongjun and Mr. Cai Zhenpeng collectively held approximately 56.97% of the total issued share capital of the company through direct and indirect means, making them the controlling shareholders of the company. Dr. Cai Rongjun, who is the non-executive director and chairman, directly holds 7.50% of the company's shares, and indirectly holds 27.04% through his wholly-owned Shenzhen Hezheng Industrial Investment Co., Ltd.; Mr. Cai Zhenpeng directly holds 9.88% of the company and indirectly controls the corresponding shares through his roles as general partner in Shenzhen Changxin (holding 8.33%), Jiashan Changxin (holding 3.38%), and Hefei Jiatou (holding 0.83%). Apart from the controlling shareholders, other major shareholders of the company include Jiashan Jingkai (holding 8.33%), Zhongjin Entity (holding 6.92%), Beijing Yitang (holding 5.53%), Dunhong Entity (holding 5.28%), and several other institutional investors. Intermediary Team Joint Sponsors: Huatai Financial Holdings (Hong Kong) Limited; China International Finance Hong Kong Securities Limited. Legal Advisor to the Company: With regards to laws of Hong Kong and the United States: Clifford Chance; with regards to Chinese laws: Zhonghao Law Firm (Shanghai); with regards to international sanctions laws: King & Wood Mallesons. Legal Advisor to the Joint Sponsors: With regards to laws of Hong Kong: Han Kun Law Offices Limited Liability Partnership; with regards to Chinese laws: King & Wood Mallesons. Reporting Accountant: Ernst & Young Hua Ming LLP. Industry Consultant: Frost & Sullivan (Beijing) Co., Ltd. Shanghai Branch. Internal Control Consultant: Ernst & Young (China) Enterprise Consulting Co., Ltd.