On April 23, 2026, JVS (Suzhou) Technologies Co., Ltd. (referred to as 'JVS'), headquartered in Wuzhong District, Suzhou, Jiangsu Province, submitted its prospectus to the Hong Kong Stock Exchange, planning to list on the Main Board of the Hong Kong Stock Exchange.
Link to JVS’s prospectus:
https://www1.hkexnews.hk/app/sehk/2026/108459/documents/sehk26042302878_c.pdf
Main Business
Established in 2008, JVS is a global leader in vehicle articulation systems, specializing in the design, development, manufacturing, and sales of these systems. It provides technical support for the electrification and intelligent upgrades of transportation equipment and offers reliable articulation systems for public transport and specialized commercial vehicles.
According to Frost & Sullivan, in 2025, JVS was the world's second-largest manufacturer of vehicle articulation systems by revenue, with a market share of 10.8%.
In the field of vehicle articulation systems, JVS has developed system-level solutions encompassing lightweight structural technologies, ACU posture perception algorithms, electro-hydraulic proportional control technologies, and control coordination, meeting the operational requirements of high-capacity public transport vehicles under high loads, frequent turns, and complex working conditions.
Additionally, by 2025, JVS had expanded into the production and sales of new energy thermal management systems. Tailored to different operating conditions and application scenarios, it implements coordinated thermal management designs for batteries, motors, electronic controls, and cabins, thereby improving overall system efficiency, extending the lifespan of key components, and ensuring stable vehicle performance in extreme environments.
During the historical performance period, JVS primarily generated revenue through the sale of vehicle articulation systems, including: (i) sales of vehicle articulation system products, such as articulation discs and related windshield systems; (ii) sales of windshield systems as standalone products for specific applications. Additionally, the company generates revenue through the sale of new energy thermal management systems. Other income sources include sales of other industrial machinery components, spare parts, scrap materials, and maintenance services.
Shareholder Structure
The prospectus shows that prior to JVS's listing in Hong Kong, the shareholder structure included:
Mr. Hao Qingjun holds approximately 73.49% of the shares and serves as the controlling shareholder.
Ms. Hao Yun holds 2.43% of the shares.
Directors and senior management
The Icarus Board of Directors will consist of seven members, including:
Five executive directors
Mr. Cheng Feng (General Manager);
Mr. Ma Chunbo (Vice General Manager);
Mr. Zhong Gufa (Chief Financial Officer);
Mr. Sun Bin (Vice General Manager of Marketing);
Mr. Niu Zhen (Vice General Manager of Technology);
One non-executive director,
Mr. Hao Qingjun (Chairman of the Board);
Three independent non-executive directors
Dr. Chen Long (Vice President of the Society of Automotive Engineers of China, former Vice President and Standing Committee Member of Jiangsu University)
Mr. Jin Yuan (Executive Director and CFO of Huifu Tianxia);
Ms. Liang Huifang (Financial Manager of eBRAM International Online Dispute Resolution Centre).
In addition to the executive directors, senior executives include:
Mr. Kuang Hua (Board Secretary and Joint Company Secretary).
Board of Supervisors:
Mr. Liu Shengqi (Deputy General Manager of subsidiary Zhongqi Electric Motor);
Ms. Sun Qiumei (HR Specialist of subsidiary Kaibo Yikong);
Mr. Yang Jinlu (Minister of Process Department);
Company performance
The prospectus shows that in the past years of 2023, 2024, and 2025, Ikarus generated revenues of RMB 132 million, RMB 142 million, and RMB 222 million respectively, with corresponding net profits of RMB 25.518 million, RMB 27.967 million, and RMB 66.914 million.
Intermediary team