从车库创业到冲刺港股，魔视智能3年亏超6.6亿元

Core Insights - Magic View Intelligent Technology (Shanghai) Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange after completing eight rounds of financing, marking its entry into the capital market [1][3] - Despite delivering over 3.3 million solutions across 92 vehicle models, the company has incurred cumulative losses exceeding 660 million RMB over the past three years and has yet to achieve profitability [1][5] Company Overview - Founded in 2015, Magic View Intelligent is an AI-driven provider of intelligent driving solutions, offering integrated hardware and software solutions with L0-L4 level autonomous driving capabilities [3][4] - The founder, Yu Zhenghua, has extensive academic and industry experience, previously serving in various prestigious roles, and recognized the potential of autonomous driving during his first entrepreneurial venture [3][4] Market Position and Performance - The company launched its first generation of deep learning-based embedded ADAS in 2016 and has established partnerships with major automotive manufacturers such as BYD, Geely, and GAC [4][5] - According to its prospectus, Magic View is projected to rank eighth among third-party solution providers in China's intelligent driving solutions market by revenue in 2024, with a market share of approximately 0.4% [4][5] Financial Performance - Revenue is expected to grow from 117.8 million RMB in 2022 to 356.8 million RMB in 2024, representing over a twofold increase, while net losses are projected to rise from 200 million RMB in 2022 to 233 million RMB in 2024 [6][7] - The company reported a revenue of 189 million RMB in the first half of 2025, reflecting a year-on-year growth of 76.4%, but continues to face significant losses [7] Industry Context - The Chinese market for L0 to L2+ intelligent driving solutions is rapidly expanding, projected to grow from 21.6 billion RMB in 2020 to 91.2 billion RMB by 2024, with a compound annual growth rate (CAGR) of 43.3% [5] - As the automotive industry transitions from electrification to intelligence, competition is intensifying, with traditional manufacturers increasingly investing in in-house development of autonomous driving technologies [7]