博泰车联网港股IPO获中国证监会备案

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued a notice regarding the overseas issuance and listing of shares for Botai Vehicle Networking Technology (Shanghai) Co., Ltd., allowing the company to issue up to 12.1142 million overseas listed ordinary shares and convert 60.5609 million domestic unlisted shares into overseas listed shares for trading on the Hong Kong Stock Exchange [1][2]. Group 1: Company Overview - Botai Vehicle Networking is a supplier of smart cockpit and intelligent connected solutions, ranking as the second largest domestic supplier of new energy vehicle smart cockpit domain controllers in China with a market share of 11.9% based on 2024 shipment volume [3]. - The company's revenue for the years 2022 to 2024 was reported as 1.218 billion, 1.496 billion, and 2.557 billion yuan respectively, indicating continuous growth in revenue [3]. Group 2: Financial Performance - Despite the revenue growth, Botai Vehicle Networking has reported net losses for the same period, with a projected loss of 541 million yuan in 2024 [3]. - Research and development costs for the years 2022 to 2024 were 277 million, 235 million, and 207 million yuan respectively, showing a decreasing trend in R&D expenditure [3]. Group 3: Fundraising and Utilization - The funds raised from the IPO will be utilized for five main purposes: expanding product offerings and solutions, enhancing technology capabilities, investing in new or upgraded production facilities, expanding sales and service networks, and strategic acquisitions to integrate industry resources [3].