New stock news | Vision Source Electronics submits to the Hong Kong Stock Exchange and establishes a deep cooperation with Microsoft

According to the disclosure by the Hong Kong Stock Exchange on June 17, Guangzhou VisionSource Electronic Technology Co., Ltd. (hereinafter referred to as "VisionSource Electronics") has submitted a listing application to the main board of the Hong Kong Stock Exchange, with CICC and GF SEC (Hong Kong) as its joint sponsors. The prospectus reveals that VisionSource Electronics is an expert in intelligent control technology and is also one of the world's leading commercial display equipment companies. It has established a leading position in the market in the field of interactive intelligent flat panels (IFPD) and LCD main control boards for education and enterprise services. According to Frost & Sullivan data, by 2024, the company's MAXHUB brand of conference interactive intelligent flat panels will rank first in mainland China with a market share of 25.0% (by revenue) and second globally with a market share of 9.9% (by revenue). VisionSource Electronics believes that the adoption rate of digital education solutions in overseas markets is still relatively low, indicating significant future growth potential. Additionally, the trend of widely using AI empowered tools in the education sector is expected to drive the adoption of interactive intelligent flat panels and audiovisual (AV) devices as part of digital education solutions. The global education interactive intelligent flat panel market is expected to grow at a compound annual growth rate of 8.9% from RMB 20 billion in 2024 to RMB 30.7 billion in 2029. According to Frost & Sullivan data, by 2024, VisionSource Electronics' sales of interactive intelligent flat panels for the education market will account for 40.2% of the overseas market share, ranking first in the world. In the corporate sector, the increasing demand for smarter, more flexible, and diversified conference solutions is driving innovation in global corporate service models. The global conference interactive intelligent flat panel market is expected to grow from RMB 9.1 billion in 2024 to RMB 13 billion in 2029, with a compound annual growth rate of 7.4%. It is reported that VisionSource Electronics has established a deep cooperation with Microsoft and jointly launched a variety of hardware devices certified by Microsoft Teams, including the world's first XBoardV7 series conference flat panel with three cameras and Windows 11 IoT, providing integrated solutions for diverse enterprise scenarios. In 2022, 2023, and 2024, VisionSource Electronics achieved operating revenues of approximately RMB 20.99 billion, RMB 20.17 billion, and RMB 22.401 billion respectively, with annual profits of RMB 2.121 billion, RMB 1.40 billion, and RMB 1.036 billion respectively during the same period. VisionSource Electronics stated that the company's gross profit margin decreased from 24.5% in 2023 to 20.9% in 2024, mainly due to (i) the growth in operating revenue of intelligent control components with lower gross profit margins outpacing the growth of intelligent terminals and applications; and (ii) the gross profit margin of intelligent terminals and applications decreased from 30.2% in 2023 to 25.3% in 2024.