Core Viewpoint - Zhaoma Intelligent Technology Co., Ltd. (Zhaoma Zhixing) has submitted an IPO application to the Hong Kong Stock Exchange, aiming to leverage its position as a leading provider of software-centric intelligent cockpit solutions in China [2][3]. Company Overview - Zhaoma Zhixing primarily offers intelligent automotive operating systems, intelligent automotive solutions, and digital traffic solutions targeting the automotive and transportation sectors [2]. - According to Zhaoma Zhixing's IPO prospectus, it is the largest software-centric intelligent cockpit solution provider in China based on revenue projections for 2024, and it ranks first in terms of solution deployment volume [2]. Market Growth - The global smart vehicle sales are projected to increase from 58 million units in 2024 to 86.5 million units by 2030, with a compound annual growth rate (CAGR) of 6.9% [3]. - The market size for intelligent cockpit solutions in China is expected to grow from RMB 129 billion in 2024 to RMB 327.4 billion by 2030, reflecting a CAGR of 16.8% [3]. - The software-based cockpit solutions market is anticipated to grow even faster, from RMB 40.1 billion in 2024 to RMB 114.9 billion by 2030, with a CAGR of 19.2% [3]. Financial Performance - Zhaoma Zhixing's revenue for the fiscal years 2022, 2023, and 2024 was approximately RMB 805 million, RMB 872 million, and RMB 824 million, respectively [4][5]. - The company reported a loss of approximately RMB 878 million in 2022, RMB 876 million in 2023, and RMB 847 million in 2024 [4][5]. - The revenue from Zhaoma Zhixing's AI end-to-end solutions is projected to grow from RMB 15.9 million in 2022 to RMB 54.6 million in 2024, with a CAGR of 85.3% [3]. Shareholder Structure - Alibaba holds approximately 44.72% of Zhaoma Zhixing's shares and is the largest supplier and one of the top five customers of the company [6]. - SAIC Motor Corporation is identified as the largest customer and one of the top suppliers for Zhaoma Zhixing [6]. IPO Fund Utilization - The funds raised from the IPO are intended for investment in research and development to strengthen the company's technological leadership in the Chinese intelligent cockpit solutions market, increase market share, support business acquisitions, and supplement working capital [6].
斑马智行赴港上市:多年收入增长停滞,利润亏损不止,业务发展依赖两大股东阿里上汽
Sou Hu Cai Jing·2025-08-21 12:45