科创板被否4年后转战港股IPO，连续亏损多年

Core Viewpoint - Feishi Technology is attempting a second IPO on the Hong Kong Stock Exchange after failing to list on the Sci-Tech Innovation Board, focusing on electric drive solutions but has not yet achieved profitability [1] Group 1: Company Overview - Feishi Technology, established in 2001, is a global supplier of electric drive solutions, providing comprehensive and customized electric drive systems primarily for industrial control and new energy vehicles [1] - The company was previously unsuccessful in its IPO attempt on the Sci-Tech Innovation Board in 2021, where it aimed to raise 1.6 billion RMB [1] - As of 2024, Feishi Technology is the second-largest supplier of specialized electric drive solutions in China's industrial control sector and the sixth-largest third-party supplier of electric drive systems for passenger vehicles [1] Group 2: Financial Performance - Feishi Technology has not yet turned a profit, with projected revenues of 1.376 billion RMB, 1.243 billion RMB, and 1.5 billion RMB for 2022, 2023, and 2024 respectively, alongside losses of 130 million RMB, 112 million RMB, and 177 million RMB for the same years [1][2] - For the first half of 2025, the company reported a revenue increase of 58%, with losses narrowing, attributed to growth in its new energy vehicle solutions business, which increased its revenue share from 36.3% in 2024 to 60.4% [2] Group 3: Future Plans and Shareholder Structure - The company plans to increase investment in R&D, deepen its globalization strategy, and expand its application scenarios while building a top talent team through industry-academia collaboration [3] - The major shareholders include Ren Wenjie and Hu Jin, who collectively hold approximately 49.48% of the company, with other investors including Beijing-Tianjin-Hebei Fund and Shenzhen Saifu [3] - Feishi Technology transitioned from a Sino-foreign joint venture to a domestic enterprise in 2015, and established a research center in Italy in 2018 [3]