小马智行，秘密递表、通过港交所聆讯，高盛、美银、德银、华泰国际联席保荐

Core Viewpoint - Pony AI Inc. (小马智行) is preparing for a public listing on the Hong Kong Stock Exchange after filing its prospectus, following its previous IPO on NASDAQ in February 2023, where it achieved a market capitalization of approximately $6.854 billion as of October 17, 2025 [1][2]. Business Overview - Founded in 2016, Pony AI provides autonomous driving technology and solutions in the mobility and logistics sectors, focusing on three main business areas: Robotaxi services, Robotruck logistics, and technology licensing [3]. - The company has achieved significant milestones in autonomous driving, including over 55 million kilometers of road testing and being the only company to operate fully autonomous Robotaxi services in major Chinese cities [3][4]. Financial Performance - Pony AI's revenue has shown consistent growth, with a reported revenue of $35.43 million for the first half of 2025, representing a year-on-year increase of 43.3% [3][12]. - The Robotaxi segment has been particularly strong, generating $3.256 million in revenue in the first half of 2025, a remarkable increase of 178.8% year-on-year [3][12]. Market Expansion - In 2025, Pony AI accelerated its global expansion, establishing operations in eight countries across Asia, Europe, the Americas, and the Middle East, successfully obtaining Robotaxi testing permits in six of these countries [5][6]. Shareholder Structure - The company has a dual-class share structure, with Dr. Peng Jun holding 15.57% of the shares but controlling approximately 53.81% of the voting rights, making him the majority shareholder [8]. Management Team - The board of directors consists of seven members, including two executive directors: Dr. Peng Jun (Chairman and CEO) and Dr. Lou Tiancheng (CTO) [10].