Xin Lang Cai Jing·2025-12-10 07:04Group 1 - TechStar Acquisition Corporation completed the acquisition of Seyond Holdings Ltd. on December 10, 2025, marking the company's successful listing on the Hong Kong Stock Exchange [3] - This transaction is the third DE-SPAC deal in the Hong Kong market and TechStar is the fifth SPAC to list in Hong Kong since the introduction of Chapter 18B of the Listing Rules in 2022 [3] - CITIC Securities (International) acted as the joint sponsor and coordinator for the transaction, showcasing its professional capabilities in SPAC transactions [3][9] Group 2 - Seyond Holdings Ltd. is a leading provider of automotive-grade LiDAR solutions, delivering approximately 230,000 units in 2024, ranking fourth globally with a market share of 12.8% in ADAS LiDAR sales [5] - The company has established a supplier ecosystem in China, leveraging local supply chains to support the mass production of LiDAR solutions [7] - Seyond has secured design wins with fourteen OEMs and ADAS/ADS companies, integrating its LiDAR solutions into various vehicle applications, including passenger cars and commercial vehicles [7] Group 3 - The transaction involved investments from three PIPE investors totaling approximately HKD 550 million, along with a PEF financing of about HKD 370 million [3] - CITIC Securities (International) played a crucial role in coordinating the entire process from preparation to completion, ensuring compliance with regulatory requirements [9] - The successful completion of this transaction represents a milestone for CITIC Securities (International) in the LiDAR and intelligent driving sectors, reinforcing its commitment to supporting quality enterprises [9]