近3年亏损超10亿元 镁佳股份递表港交所

Core Viewpoint - Megatronix Inc. has submitted its initial listing application, aiming to raise funds for R&D, product expansion, and market promotion, despite not yet achieving profitability [1][5]. Group 1: Company Overview - Megatronix Inc. focuses on developing AI-driven integrated domain control solutions for the automotive industry, founded by Zhuang Li, who has over 20 years of experience in technology and engineering [2][3]. - The company has completed multiple financing rounds, with a post-money valuation of $930 million after its D+ round in May 2023 [1][5]. Group 2: Financial Performance - Megatronix reported revenues of 388 million yuan, 1.513 billion yuan, and 1.42 billion yuan for the years 2022, 2023, and 2024, respectively, with net losses of 423 million yuan, 357 million yuan, and 291 million yuan during the same period [5]. - The company has incurred over 1 billion yuan in losses over the past three years, indicating a lack of profitability [5]. Group 3: Customer and Supplier Dependency - The company remains highly dependent on a small number of customers, with the top five clients contributing over 80% of total revenue in recent years [5][6]. - In 2024, the top five customers accounted for 84.7% of revenue, with the largest customer contributing 22.8% [5]. - Supplier concentration is also significant, with the top five suppliers representing 69.1%, 82.4%, and 77.2% of total procurement from 2022 to 2024 [6].