Core Viewpoint - 博泰车联 has entered into a strategic cooperation framework agreement with Shanghai SenseTime Technology Co., Ltd. to promote the integration and application of artificial intelligence in smart connected vehicles and related fields [1] Group 1 - The cooperation is based on the principles of resource complementarity, shared advantages, and win-win collaboration [1] - The framework agreement is effective from the date of signing and has a duration of 2 years [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因 倚賴該等內容而引致之任何損失承擔任何責任。 PATEO CONNECT Technology (Shanghai) Corporation 博 泰 車 聯 網 科 技 ( 上 海 ) 股 份 有 限 公 司 （ 於 中 華 人 民 共 和 國 成 立 的 股 份 有 限 公 司 ） （股份代號：2889） 自願公告 訂立合作框架協議 本公告乃由博泰車聯網科技（上海）股份有限公司（「本公司」或「博泰」）自願作出。 訂立合作框架協議 本公司董事（「董事」）會（「董事會」）謹此宣佈，於2025年10月7日，本公司與上 海商湯智能科技有限公司（「商湯智能科技」）訂立合作框架協議（「合作框架協 議」）。 合作框架協議主要內容 合作原則 本公司及商湯智能科技基於「資源互補、優勢共享、合 作共贏」的原則，決定建立長期戰略合作關係，並簽署 合作框架協議，以共同推動人工智能在智能網聯汽車等 相關領域的融合與應用。 本公司及商湯智能科技將聯合部署高性能服務器， 依託A ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 博泰車聯網科技（上海）股份有限公司 呈交日期: 2025年10月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02889 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 70,997,847 | RMB | | 1 RMB | | 70,997,847 | | 增加 / 減少 (-) | | | 0 | | | RMB | | | | 本月底結存 | | | 70,997,847 | RMB | | 1 RMB | | 70,997,847 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 ...

Core Viewpoint - 博泰车联's stock price surged over 15%, reaching a high of 177.6 HKD, which represents an increase of nearly 75% from its IPO price of 102.23 HKD [1] Company Summary - 博泰车联 is a leading supplier of smart cockpit solutions in China, recognized for its innovative technology in the automotive sector [1] - As of 2024, 博泰车联 is the third-largest supplier of domain controller solutions for smart cockpits in China's passenger vehicle market, holding a market share of 7.3% [1] Industry Summary - On September 28, Porsche announced a deep collaboration with 博泰车联 to develop a new generation of in-car infotainment systems specifically for the Chinese market, set to be featured in multiple Porsche models by 2026 [1] - The market for smart cockpit solutions is competitive, with 博泰车联 trailing behind two other major players with market shares of 21.7% and 10.4% respectively [1]

Summary of Key Points Core Viewpoint The article provides an overview of the recent activities in the Hong Kong stock market, highlighting the number of companies that have submitted listing applications, those that have passed the hearing process, and new stocks that have been listed. Group 1: Companies Submitting Listing Applications - A total of 30 companies submitted listing applications to the Hong Kong Stock Exchange during the week from September 29 to October 5 [1] - Notable companies include: - Yantai Lannacheng Biotechnology Co., Ltd., a clinical-stage biotech company focused on radiopharmaceuticals for cancer treatment, reported revenues of approximately 1.027 million RMB for 2023 and a loss of about 112 million RMB [2][3] - XGIMI Technology Co., Ltd., the world's largest consumer-grade projector brand by revenue, reported revenues of approximately 4.22 billion RMB for 2022 and a profit of about 501 million RMB [2][3] - WeDoctor Holdings Limited, a leading digital health service provider in China, reported revenues of 1.368 billion RMB for 2022 and a loss of 909 million RMB [4][5] - Puyuan Precision Electronics Co., Ltd., the largest electronic measurement instrument supplier in China, reported revenues of approximately 631 million RMB for 2022 and a profit of about 92.5 million RMB [5][6] - Shenzhen Huanchuang Technology Co., Ltd., a leader in high-precision spatial perception solutions, reported a market share of over 50% in the laser radar products for robotic vacuum cleaners [6] Group 2: Companies Passing Hearing Process - Four companies passed the listing hearing this week: - Jushuitan Group Co., Ltd., the largest e-commerce SaaS ERP provider in China, reported revenues of approximately 523 million RMB for 2022 and a loss of about 507 million RMB [30][31] - Fujian Haixi New Drug Creation Co., Ltd., a commercial-stage pharmaceutical company, reported revenues of approximately 212 million RMB for 2022 and a profit of about 69 million RMB [30][31] - Beijing Tongrentang Medical Investment Co., Ltd., the largest non-public Chinese hospital group by market share, reported revenues of approximately 911 million RMB for 2022 and a loss of about 9.23 million RMB [32] - Beijing Yunji Technology Co., Ltd., a robotics service provider, reported revenues of approximately 161 million RMB for 2022 and a loss of about 365 million RMB [32][33] Group 3: New Stocks Listed - Three new stocks were listed on September 30: - Zijin Gold International, which saw a significant increase in market value, surpassing 350 billion HKD [35] - Xipuni, which had an oversubscription rate of 2505.9 times during its public offering [35] - Botai Che Lian, which also experienced a notable increase in stock price [35]

Core Viewpoint - The successful IPO of Botai Che Lian marks a significant milestone, raising approximately HKD 919 million and achieving a market capitalization exceeding HKD 200 billion on its first trading day, despite concerns over its profitability and reliance on key clients [3][4][9]. Group 1: IPO Details - Botai Che Lian issued 10.4369 million shares at a price of HKD 102.23 per share, raising a net amount of approximately HKD 919 million [3]. - The company has attracted over 20 investors, including major players like Xiaomi Group and Dongfeng Group, with cornerstone investors subscribing for about HKD 466 million, representing 43.67% of the global offering [3]. - The public offering saw a subscription rate of 529.79 times, indicating strong market interest [3]. Group 2: Financial Performance - Botai Che Lian has reported cumulative net losses exceeding RMB 1.2 billion over the past three years, raising concerns about its long-term profitability [4][5]. - Revenue has grown significantly from RMB 1.218 billion in 2022 to RMB 2.557 billion in 2024, with a further RMB 754 million recorded in the first five months of 2025 [5]. - Despite revenue growth, the company has not achieved annual profitability since its inception, with losses of RMB 452 million, RMB 284 million, and RMB 541 million in the last three years [5]. Group 3: Market Position and Strategy - Botai Che Lian's revenue is heavily reliant on smart cockpit solutions, which accounted for 95.5% of its revenue in 2024, with domain controllers contributing RMB 1.96 billion [4]. - The company ranks third in the Chinese smart cockpit domain controller market with a market share of 7.3% [4]. - The partnership with Porsche and collaboration with Qualcomm enhance its market position and product offerings, potentially increasing its valuation in the secondary market [7][8]. Group 4: Future Outlook - The funds raised from the IPO will be used to expand product offerings, enhance technology, and strengthen the company's capabilities in software, hardware, and cloud-based vehicle networking [9]. - The company aims to accelerate its global market presence and continue investing in cutting-edge technology to transition vehicles from mere transportation tools to intelligent mobile spaces [9]. - The success of the IPO is seen as a starting point, with the company's ability to convert resources into sustainable profitability and a strong market position being crucial for its future [9].

Core Viewpoint - The company, Botai Che Lian, successfully listed on the Hong Kong Stock Exchange, raising approximately HKD 919 million through the issuance of 10.4369 million shares at HKD 102.23 per share, with strong market demand reflected in a subscription multiple of 529.79 times for the public offering [2][3]. Group 1: Financial Performance - Botai Che Lian has accumulated a net loss of over CNY 1.2 billion in the past three years, raising concerns about its long-term profitability despite a revenue increase from CNY 1.218 billion in 2022 to CNY 2.557 billion in 2024 [3][4]. - The company's gross margin improved slightly from 11.8% in 2024 to 13.1% in the first five months of 2025, but remains low, leading to skepticism about sustaining a market valuation above HKD 20 billion [3][4]. Group 2: Market Position and Growth - The company is heavily reliant on smart cockpit solutions, with revenue from this segment accounting for 95.5% of total income in 2024, indicating a concentrated business model [3][4]. - Botai Che Lian's shipment volume for domain controllers is projected to grow from 488,000 units in 2022 to 915,000 units in 2024, reflecting a compound annual growth rate of 36.9% [4]. Group 3: Strategic Partnerships and Future Outlook - The company has established significant partnerships, including a collaboration with Porsche to develop a new in-car infotainment system, which is expected to enhance its market presence and attract investor interest [5][6]. - The IPO proceeds will be used to expand product offerings, enhance technology capabilities, and strengthen the company's global market presence, indicating a strategic focus on innovation and market expansion [7].

Group 1 - The core viewpoint of the article is that Botai Car Networking Technology (Shanghai) Co., Ltd. has successfully listed on the Hong Kong Stock Exchange, becoming the first stock in the "smart cockpit" sector in the Hong Kong market [1][3] - The company issued 10.43 million shares, raising approximately 1.067 billion HKD, and attracted three cornerstone investors including Huangshan Development Investment Group, Horizon Robotics, and Smart Ventures [3] - Botai Car Networking is recognized as a leading supplier of smart cockpit solutions in China and one of the earliest developers in this field, providing services to over 50 automotive brands and more than 200 vehicle models as of May 31, 2025 [3] Group 2 - The company has been recognized as a "National Enterprise Technology Center" by the National Development and Reform Commission and other departments in 2023, with two core technologies acknowledged as reaching international advanced levels by the National New Energy Vehicle Technology Innovation Center [3] - During the Hong Kong visit, the president of Huangshan Development Investment Group engaged in discussions with the chairman and co-president of Botai Car Networking, and conducted an on-site inspection of the company's Hong Kong operations [3]

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