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这家智驾企业累亏21亿,创始人获1.04亿元报酬
Guo Ji Jin Rong Bao·2025-05-27 10:06

Core Viewpoint - The company Furuitek (Zhejiang) Intelligent Technology Co., Ltd. is pursuing an IPO on the Hong Kong Stock Exchange after previously failing to list in November 2024, continuing the trend of smart driving companies aiming for public offerings in 2025 [1][2]. Financial Performance - Furuitek has achieved a compound annual growth rate (CAGR) of 97.6% in revenue over the past three years, with total revenue figures of 328 million, 908 million, and 1.283 billion yuan for the years 2022, 2023, and 2024 respectively [7][8]. - The company has incurred cumulative losses of 2.121 billion yuan over the same period, with net losses of 855 million, 738 million, and 528 million yuan for the respective years [7][8]. - Operating cash flow has consistently been negative, with net outflows of 703 million, 498 million, and 153 million yuan during the reporting period [8]. Market Position - Furuitek ranks second among third-party suppliers in China for L0 to L2 level driving assistance solutions, holding a market share of 7.2% based on revenue and 17.7% based on the number of units installed for L2 and L2+ level solutions [5][6]. - The company has established partnerships with 49 OEMs and has over 330 designated projects and more than 260 mass production projects [7]. Investment and Valuation - Furuitek has raised a total of 1.904 billion yuan through ten rounds of financing, with a post-investment valuation increasing from 3.5 billion yuan in July 2021 to 6.36 billion yuan by December 2024, representing an increase of 2.86 billion yuan or 81.71% [17]. - The company has a high customer concentration, with revenue from the top five customers accounting for 73.6%, 76.4%, and 91.2% of total revenue in the respective years [9]. Leadership and Compensation - The founder and CEO, Zhang Lin, has a background in the automotive industry and has received a total compensation of approximately 104 million yuan over the reporting period [10][15]. - The company’s non-executive director and other key personnel have also received significant compensation, with total remuneration for the top five highest-paid individuals reaching 113 million, 13.4 million, and 18.8 million yuan in the respective years [16][17].