小马智行启动港股招股，最高定价180港元/股，拟募资72亿港元

Core Viewpoint - Xiaoma Zhixing has commenced its public offering, aiming to issue approximately 41.96 million shares, with a maximum price of HKD 180.00 per share, and plans to list on November 6 [1][4]. Group 1: Offering Details - The total number of shares for global offering is 41,955,700, with 10% allocated for public offering in Hong Kong and 90% for international placement [2]. - The estimated net proceeds from the global offering are approximately HKD 7.1936 billion, assuming no exercise of the over-allotment option [4]. - The entry fee for investors is HKD 18,181.54 for a minimum purchase of 100 shares [1]. Group 2: Company Background - Xiaoma Zhixing became the first company in China to launch L4 autonomous driving services at the end of 2018, ahead of its competitors [2]. - The company is one of the first in China to obtain licenses for operating fully autonomous L4 taxis in designated areas of four first-tier cities [3]. - Xiaoma Zhixing is also the first company approved for testing autonomous truck platooning on interprovincial highways in China, expected to start in December 2024 [3]. Group 3: Financial Projections and Use of Proceeds - Xiaoma Zhixing is projected to generate revenue of USD 75 million in 2024, surpassing its competitor, Company W, which is expected to generate approximately USD 49.3 million [4]. - The company plans to allocate about 50% of the net proceeds from the offering to market entry strategies for large-scale commercialization of L4 technology, 40% for ongoing R&D investments, and 10% for working capital and general corporate purposes [4].