Core Viewpoint - CloudWalk Technology is set to launch its IPO on the Hong Kong Stock Exchange, aiming to raise up to HKD 320 million, with SenseTime as a cornerstone investor, indicating a strategic partnership in the multimodal field [1][9]. Fundraising and Financials - The company plans to issue 1.561 million H-shares, with 90% allocated for international sales and 10% for Hong Kong sales, at a price range of HKD 165 to HKD 205 per share, potentially raising up to HKD 320 million [6][7]. - The fundraising amount has been significantly reduced by 65% compared to its previous plan for the Sci-Tech Innovation Board, reflecting a more conservative valuation strategy [7]. - Financial data shows that CloudWalk's revenue for 2022, 2023, and 2024 is projected to be HKD 600 million, HKD 727 million, and HKD 939 million respectively, with a compound annual growth rate of 23% [5][6]. Investment and Partnerships - SenseTime, along with other cornerstone investors, has committed to significant investments, with SenseTime's subsidiary subscribing for HKD 43.7 million worth of shares [9]. - The partnership with SenseTime will focus on collaborative innovation in voice and visual multimodal interactions, enhancing the user experience in various industries [9][10]. - The company has a strong shareholder base, including notable investors such as JD.com, 360, and Qualcomm, indicating robust backing for its business model [8]. Use of Proceeds - Approximately 45.6% of the raised funds will be allocated to enhancing R&D capabilities, while 47% will focus on expanding commercial opportunities, reflecting a balanced approach to growth [7][8]. - The company aims to improve existing solutions and penetrate new vertical industries, highlighting its commitment to commercial viability [7].
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