CATL is in talks with potential advisers and a listing in Hong Kong could take place as early as the first half of 2025, according to Bloomberg.
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Category: HK Listing
Neta Auto parent Hozon has filed to list in Hong Kong, targeting customers at home and abroad with its affordably priced vehicles.
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Hozon had annual losses of RMB 4.8 billion, RMB 6.7 billion and RMB 6.9 billion for 2021-2023.
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Neta started preparations for its IPO in Hong Kong in the fourth quarter of 2023, with the amount of cornerstone investments signed up so far exceeding RMB 2 billion, according to local media.
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StarCharge is considering an IPO in Hong Kong, potentially raising about $500 million and seeking a $5 billion valuation, according to Bloomberg.
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Rept's latest market capitalization of HK$42.4 billion overtook CALB as the highest lithium battery maker listed in Hong Kong.
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Avatr closed a RMB 3 billion Series B financing round in August, bringing its post-investment valuation to nearly RMB 20 billion.
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By the end of 2022, Rept had a production capacity of 35.2 GWh, and by 2025 it is expected to have a capacity of more than 150 GWh.
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In 2022, RoboSense had 953 customers, including Geely, GAC Aion, Great Wall Motor, Xpeng, Lotus and Lucid.
(Image credit: RoboSense)
RoboSense Technology has filed for a Hong Kong IPO and is expected to become the second Chinese LiDAR maker to go public after Hesai Group.
RoboSense's prospectus was made public on the HKEX website today, with JPMorgan and China Renaissances as co-sponsors.
The number of shares RoboSense plans to issue or the amount of capital it plans to raise has not been announced, but the prospectus provides details about its business.
RoboSense was founded in 2014 and its RS-LiDAR-M1 was the world's first mass-produced solid-state LiDAR, with mass production and delivery beginning in June 2021.
In 2022, RS-LiDAR-M1P, an upgraded version of RS-LiDAR-M1, achieves mass production.
Sales of RS-LiDAR-M1 and RS-LiDAR-M1P were 36,600 units and 4,300 units respectively in 2022.
RoboSense demonstrated the new product RS-LiDAR-E1 at its Tech Day event on November 7, 2022, and will begin mass production in the second half of 2023.
As of March 31, RoboSense has received expected orders for 52 models of LiDAR from 21 car companies and Tier 1 suppliers, of which 9 models have already started production, according to its prospectus.
In 2022, RoboSense has 953 customers, including primarily Geely, GAC Aion, Great Wall Motor, Xpeng, Lotus, and Lucid.
Since inception, RoboSense has delivered more than 100,000 LiDARs cumulatively as of the end of the first quarter.
RoboSense's revenues for 2020 to 2022 were RMB171 million ($23.5 million), RMB331 million, and RMB530 million, respectively.
Like many other tech startups, RoboSense is still in the red.
From 2020 to 2022, RoboSense recorded net losses of RMB 220 million, RMB 1.65 billion, and RMB 2.09 billion, respectively.
Its adjusted net losses for these three years were RMB 59.9 million, RMB 108 million, and RMB 563 million, respectively. These adjustments include the exclusion of share-based compensation, changes in the value of financial instruments issued to investors, and listing expenses.
RoboSense entered into a supply partnership with BYD at the end of 2021 and announced on February 6 this year a supply partnership agreement with Toyota to supply LiDARs for a number of the latter's models.
RoboSense is set to become the second Chinese LiDAR maker to go public, after its local counterpart Hesai was listed in the US on February 10.
Hesai, also founded in Shanghai in late 2014, initially focused on developing high-performance laser sensors and has been exploring driverless LiDAR products since 2016.
($1 = RMB 7.2689)
Shanghai auto show: EVs take center stage, nearly 40 models equipped with LiDARs
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Black Sesame is the world's third largest supplier of automotive SoCs with high computing power by 2022 shipments.
(Image credit: Black Sesame Technologies)
Black Sesame Technologies, a self-driving chip startup, has filed for a listing on the Hong Kong Stock Exchange and is expected to be the first Chinese company to go public in the area.
Black Sesame has not yet announced the number of shares it plans to issue or the amount of capital it will raise, but has provided a detailed description of its business, according to a prospectus released today.
Founded in 2016, Black Sesame is a supplier dedicated to automotive SoCs and solutions, and was one of the first companies in China to lay out its presence in the autonomous driving chip space.
In January 2018, Black Sesame announced the completion of a Series A+ financing round of nearly RMB 100 million, led by NIO Capital.
The company's products include the Huashan series of autonomous driving SoCs and recently launched the Wudang series of cross-domain SoCs.
Black Sesame is the world's third largest supplier by shipments of automotive SoCs high computing power in 2022, its prospectus said, citing data from Frost & Sullivan.
Black Sesame has received intent orders for 15 models from 10 automotive OEMs and Tier 1 suppliers, and has partnered with more than 30 automotive OEMs and Tier 1 suppliers.
Black Sesame's revenue in 2020, 2021 and 2022 were RMB 53.02 million ($7.32 million), RMB 60.5 million and RMB 165 million, respectively.
It will invest RMB 255 million, RMB 594 million and RMB 766 million in R&D in these three years, respectively.
In 2020, 2021 and 2022, Black Sesame's annual adjusted net loss were RMB 273 million, RMB 614 million and RMB 700 million, respectively.
Black Sesame expects its net loss to increase significantly in 2023, as it is in the process of expanding its business and operations in the automotive SoC and solutions market and continues to invest in research and development.
The company provided products and solutions to 89 Chinese and overseas customers in 2022, shipping more than 25,000 SoC products and contributing 86 percent of annual revenue.
Based on 2022 shipments, Black Sesame's share of the market for SoCs with high computing power in China and globally were 5.2 percent and 4.8 percent, respectively, according to its prospectus.
($1 = RMB 7.2466)
Dongfeng to build smart driving platform based on Black Sesame's chips
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