Introduction
According to recent announcements from the Hong Kong Stock Exchange, Guangdong APT Electronics Co., Ltd. (hereafter referred to as “APT Electronics“) has registered to go public on the main board of the exchange, with an upcoming IPO.

Revenue Sources
APT Electronics‘ revenue primarily derives from three sectors:
- Automotive Intelligent Vision Products: This includes smart headlights, automotive-grade LED devices, and modules.
- High-end Lighting Products: This encompasses high-end lighting devices and modules.
- New Display Products: This is divided into direct-lit and edge-lit LED devices and modules.

Financial Performance
APT Electronics reported the following operating revenues over the past years:
- 2021: $1.88 million
- 2022: $1.90 million
- 2023: $2.55 million
- First five months of 2024: $1.16 million
In 2024, the total revenue for the first five months increased by 34.88% year-over-year. Corresponding net profits for these years were $1.09 million, $0.58 million, $1.02 million, and $0.45 million, respectively.

Rapid Growth in Automotive Sector
The automotive intelligent vision segment has experienced remarkable growth, with revenue in 2023 increasing by 941.89% compared to 2021. The revenue share from this sector rose from 5.3% in 2021 to 43.4% in the first five months of 2024. A significant portion of sales is attributed to enterprises under the Geely umbrella.
Revenue from Geely-related enterprises for the years 2021, 2022, 2023, and for the five months ending May 31, 2023, and 2024, were $0.79 million, $5.09 million, $10.45 million, $3.03 million, and $4.60 million, respectively. These figures accounted for 3.6%, 24.8%, 38.0%, 33.8%, and 38.8% of total revenues during the same periods.
New Display Devices
Sales of new display devices and modules have steadily increased, from 32.3 million units in 2021 to 42.7 million units in 2022, and further to 55.0 million units in 2023. This growth is driven by the trend towards large-screen televisions and a shift in R&D focus to high-tech and high-margin products.
Specifically, sales of Mini LED products surged from 500,000 units in 2022 to 5.7 million units in 2023. Sales of new display products for 75-inch and larger LCD televisions in mainland China rose from 14.4 million units in 2022 to 22.1 million units in 2023.
Partnerships and Clients
APT Electronics has established partnerships with over twenty domestic automotive manufacturers, brands, and tier-one suppliers, including industry leaders such as Geely, Lynk & Co, Zeekr, GAC, and Changan Automobile. Their clientele also includes major international lighting enterprises like Signify and Samsung, as well as renowned television brands like Hisense, TCL, and Skyworth.
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