In the wave of the global automotive industry's transformation towards intelligent electrification, JOYSON ELECTRONICS has continuously solidified its leading position in the automotive technology field through global resource integration and continuous technological innovation. From intelligent cockpits to intelligent driving, from new energy management to automotive safety, JOYSON ELECTRONICS has achieved leapfrog development through a dual-driven approach of organic growth and external mergers and acquisitions.
In recent years, JOYSON ELECTRONICS has successfully reversed its integration challenges, with both net profit and order amounts experiencing significant growth, while also expanding into new tracks such as humanoid robots and AI server power supplies, fully opening up the company's growth space.
Leading the industry with multiple business lines and solid technological barriers
As a leading global provider of intelligent automotive technology solutions, JOYSON ELECTRONICS deeply engages in the core areas of automotive intelligence and electrification, with five major sectors—intelligent driving, intelligent cockpits, new energy management, intelligent connectivity, and automotive safety—simultaneously making strides, placing its comprehensive strength at the forefront of the industry.
Intelligent driving is one of the company's core focus areas. Leveraging years of experience in domain controller research and mass production, its products cover all levels of assisted driving systems from L2 to L4, meeting mainstream functional demands such as highway navigation, automatic parking, and urban assisted driving. Currently, the company's intelligent driving domain controllers are supplied to several mainstream domestic and international automakers and new car manufacturers, continuously winning designated orders. High-level intelligent driving solutions have gradually entered mass production, and low-speed autonomous driving-related products have also completed technical implementation, with the ability to implement technology and customer recognition continuously improving.
The intelligent cockpit business possesses global supply capabilities, focusing on core products such as cockpit domain controllers and human-machine interaction systems, serving high-end overseas brands like BMW and Volkswagen, as well as mainstream domestic automakers. Relying on the advantages of integrated hardware and software development, the company's cockpit solutions achieve integrated functionalities such as multi-screen interconnection, intelligent interaction, and cockpit perception, continuously enhancing the value per vehicle, and in recent years, it has consistently secured new projects from leading domestic automakers, steadily increasing market share.
New energy management is deeply aligned with the industry's electrification trend, focusing on high-voltage distribution, battery management systems, and 800V high-voltage fast charging, among other popular technological routes. The related products are technologically mature and leading in mass production scale, with ample orders on hand, making the new energy business a core pillar driving overall performance growth.
Intelligent connectivity focuses on cutting-edge areas such as 5G-V2X and the Internet of Vehicles, with related products steadily advancing towards mass production, continuously laying out fields such as vehicle-road collaboration and in-vehicle communication, closely following the development trend of intelligent connected vehicles to provide supporting support for vehicle intelligence.
Automotive safety is the company's traditional advantage and a core competitive segment globally. Through multiple industry integrations, the company has become the second-largest supplier of automotive safety systems in the world, with products covering the entire range, including airbags, seat belts, and high-end steering wheel assemblies, serving the vast majority of mainstream automakers globally, maintaining stable market share, and demonstrating outstanding revenue and profit resilience.
Dual-driven by organic growth and acquisitions, global layout yields fruitful results
The growth path of JOYSON ELECTRONICS is a model of synergistic efforts between organic innovation and external mergers and acquisitions. Established in 2004, the company focuses on high-end functional components and began its globalization acquisition journey after going public in 2011, achieving leapfrog improvements in scale and strength through precise acquisitions that fill technological gaps and penetrate high-end supply chains
In 2011, the company spent 1.948 billion yuan to acquire Germany's PREH, a century-old automotive electronics giant that helped JOYSON ELECTRONICS enter the high-end supply chains of BMW and Mercedes-Benz, securing core technologies in human-machine interaction and new energy control, making it one of the top ten mergers and acquisitions in China that year. In 2014, it acquired Germany's IMA to enhance its industrial automation capabilities, and in the same year, it acquired Germany's QUIN to obtain high-end steering wheel assembly technology, entering the supply chains of Audi and Porsche.
In 2016, JOYSON ELECTRONICS acquired the American KSS for 920 million USD, gaining core technologies in passive safety, adding 5 billion USD to its order pool; in 2018, it further acquired high-quality assets from Japan's Takata for 1.588 billion USD, and after integration, its global market share in passive safety surged to 30%, establishing its leading position in global safety. In 2024, it acquired Xiangshan Co., Ltd. to strengthen its production capacity in smart cockpit components and new energy charging and distribution components, completing its new energy industry chain layout.
In terms of endogenous development, the company insists on high-intensity R&amp;D investment, establishing 25 R&amp;D centers globally, focusing on cutting-edge technologies such as intelligent driving, high-voltage fast charging, and vehicle-road-cloud collaboration. In the first quarter of 2026, R&amp;D expenses reached 839 million yuan, continuously solidifying its technological barriers. The dual-wheel strategy of endogenous innovation + merger integration has driven the company's revenue from 2 billion yuan in 2011 to 61.183 billion yuan in 2025, with an average annual growth rate exceeding 35%, achieving significant results in globalization.
Performance recovery has been completed, with profits and orders both increasing significantly
After large-scale mergers and acquisitions, the integration pains once put JOYSON ELECTRONICS in a phase of difficulty, compounded by fluctuations in the global automotive industry, with the company's net profit in 2022 dropping to 233 million yuan at one point. However, through measures such as optimizing capacity layout, reducing costs and increasing efficiency, and divesting non-core assets, the company gradually alleviated integration pressure, and from 2023 onwards, performance has continued to recover, with the non-recurring net profit in 2024 reaching 1.28 billion yuan, a year-on-year increase of 29.6%, and gross profit margin rising to 16.3%.
In 2025, the company welcomed a highlight moment after the turnaround, with annual revenue of 61.183 billion yuan, a year-on-year increase of 9.52%; net profit attributable to the parent company was 1.336 billion yuan, a year-on-year increase of 39.08%, setting a historical high. In the first quarter of 2026, the high growth trend continued, achieving revenue of 13.815 billion yuan, net profit attributable to the parent company of 402 million yuan, a year-on-year increase of 18.11%, and a net operating cash flow of 915 million yuan, with operating quality continuously optimizing.
The order side is even more impressive, with new global orders of 83.9 billion yuan in 2024, increasing to 97 billion yuan in 2025, and in the first quarter of 2026, new orders for the quarter reached 27.5 billion yuan, a substantial year-on-year growth of 75.2%. As of Q1 2026, the backlog of orders reached 97 billion yuan, securing high growth in performance for the next three years. The order structure continues to optimize, with new energy vehicle orders accounting for over 55%, and domestic market orders exceeding 40%, significantly improving order quality driven by electrification and localization
Comprehensive Breakthrough in New Tracks, Formation of Second Growth Curve
While the main automotive business is steadily growing, JOYSON ELECTRONICS is leveraging the technological synergies of the automotive sector to extend its perception, decision-making, and control technologies into new tracks such as humanoid robots and AI server power supplies, constructing a multi-growth curve pattern of &#34;Automotive + Robotics + AI Infrastructure.&#34;
In the field of humanoid robots, the company has clearly defined its &#34;Automotive + Robotics Tier 1&#34; strategy at the beginning of 2025, positioning itself as a core component supplier, focusing on five core components: domain controllers, energy management systems, torso chassis assemblies, head assemblies, and dexterous hands. It collaborates with leading domestic robot manufacturers such as Zhiyuan, Galaxy General, and XPeng, with multiple products already delivered in batches; overseas, it is deeply collaborating with major clients in North America, and the revenue from the robotics business is expected to achieve a significant increase by 2026, with profit margins higher than those of automotive electronics.
In the AI server power supply sector, the company is expanding its vehicle high-voltage power supply technology into industrial-grade server power supplies, entering the smart computing center infrastructure track; at the same time, it strategically invested in New Fiber Optics, laying out 800G/1.6T high-speed optical modules, and jointly promoting vehicle optical communication solutions with Zhongji Xuchuang, establishing a &#34;vehicle - smart computing center&#34; optical communication link.
The acceleration of intelligent driving orders is leading to a significant production year in 2026, with L2++ and above high-level intelligent driving domain controllers being mass-produced, providing strong support for performance growth. The robotics and AI infrastructure businesses are advancing simultaneously, continuously releasing growth elasticity, and JOYSON ELECTRONICS is accelerating its transformation from a leading automotive parts supplier to a global technology enterprise.
From deepening technology to global integration, from breaking through difficulties to diversified layouts, JOYSON ELECTRONICS is leading industrial transformation with a leading posture. Currently, the wave of automotive intelligence and the dividends of the AI industry resonate together, and the company, with its solid industry position, strong performance resilience, and broad growth space, is expected to continue benefiting from the industry's high prosperity, synergistically advancing in the three tracks of intelligent vehicles, humanoid robots, and AI infrastructure, opening a new cycle of high-quality development

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600699

JOYSON ELECTRONICS solidifies its leading position in the transformation to intelligent electrification, achieving a turnaround through organic growth and external mergers and acquisitions, with net profit and orders both doubling. The company focuses on five major sectors: intelligent driving, cockpit, new energy management, and expands into new tracks such as humanoid robots and AI server power supplies, fully opening up growth space

同壁财经

JOYSON ELEC

JOYSON ELECTRONICS

Bayerische Motoren Werke AG

BAYERISCHE MOTOREN WERKE AG ADR EACH REPR 0.33333 SHS SPONSORED

Mercedes-Benz Group AG

Porsche Automobil Holding SE Pref

Porsche

SENSSUN

XPeng

XPENG-W

Zhongji Innolight

Bayerische Motoren Werke AG Pref

JOYSON ELECTRONICS' main business continues to grow, new tracks are taking shape, and growth potential is fully opened