ECM

Desay SV A+H Pre-IPO: Early Thought

28 May 2026 By Ke Yan, CFA
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Abstract: Desay SV is seeking to raise at least USD100m through an A+H listing. MS and Huatai are the joint sponsors. We look at the company's core segments: intelligent cockpit and intelligent driving. We discussed our preliminary thoughts on the company's fair value anchored by A-H premium.

BYD (002594 CH) HUIZHOU DESAY SV AUTOMOTIVE (002920 CH) BYD (1211 HK) GREAT WALL MOTOR (2333 HK) Fuyao Glass (3606 HK) Fuyao Glass (600660 CH) NINGBO JOYSON ELECTRONIC (600699 CH) SERES (601127 CH) GREAT WALL MOTOR (601633 CH) NINGBO JOYSON ELECTRONIC (699 HK) HORIZON ROBOTICS (9660 HK) SERES (9927 HK) ECARX Holdings Inc. Class A Ordinary shares (ECX US) VISTEON (VC US)

Highlighted Stocks

BYD, HUIZHOU DESAY SV AUTOMOTIVE, BYD, GREAT WALL MOTOR, Fuyao Glass, Fuyao Glass, NINGBO JOYSON ELECTRONIC, SERES, GREAT WALL MOTOR, NINGBO JOYSON ELECTRONIC, HORIZON ROBOTICS, SERES, ECARX Holdings Inc. Class A Ordinary shares, VISTEON

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