Ding Ding Pai Files for Hong Kong IPO as Net Profit More Than Doubles Over Three Years

According to Zhitong Finance, on June 22, Ding Ding Pai (Shenzhen) Technology Co. Ltd submitted an IPO application to the Hong Kong Stock Exchange's main board, with Light Bank International as exclusive sponsor.

Net profit nearly doubled to RMB 36.61 million in 2025 from RMB 18.63 million in 2023, representing a cumulative growth of over 96% in three years. Revenue reached RMB 4.76 billion in 2025, up 35% year-over-year, with gross margin improving to 38.2%. Overseas revenue surged 98.9% in 2025, now accounting for 55.4% of total revenue, with Southeast Asia and Europe as core growth markets. According to Frost & Sullivan, Ding Ding Pai ranked first globally in screenless in-vehicle intelligent imaging devices by shipment volume in 2025 with 7% market share.