200亿激光雷达第一股诞生：九年早造一只“鹰眼”，两个技术男撞开港股DE-SPAC大门

Core Viewpoint - The successful listing of Seyond (图达通) on the Hong Kong Stock Exchange through a De-SPAC process marks a significant milestone for hard technology companies in Hong Kong, showcasing a new pathway for tech firms to access capital markets more efficiently [1][2][10]. Group 1: Company Overview - Seyond, founded by Baokun Wei and Li Yimin in 2016, specializes in laser radar technology, which is essential for advanced driver assistance systems and autonomous driving [3][4]. - The company has developed both 1550nm and 905nm laser radar products, making it the only firm globally capable of mass-producing both types [5][13]. - Seyond's revenue surged by 1341% in 2022, driven by partnerships with major automotive manufacturers like NIO, and it delivered over 230,000 units in 2024, ranking second globally in ADAS laser radar solutions [9][12]. Group 2: De-SPAC Listing Process - Seyond's listing was facilitated by TechStar SPAC, which had raised approximately 1 billion HKD and sought to merge with a high-quality private company [6][8]. - The De-SPAC process allowed Seyond to expedite its entry into the public market, providing a transparent valuation and controlled costs compared to traditional IPOs [2][6]. - The transaction involved over 100 stakeholders, including multiple investors and sponsors, requiring extensive negotiations and coordination to align interests [7][8]. Group 3: Market Context - The Hong Kong IPO market has seen a resurgence, with Seyond's successful listing contributing to a broader trend of high-quality tech companies gaining recognition and valuation in the region [10][11]. - The shift in perception of Chinese technology assets has led to increased interest from global investors, recognizing the capabilities of companies like Seyond in competing on a global scale [11][12]. - The successful debut of Seyond may encourage more tech firms to consider the De-SPAC route for listing, potentially transforming the landscape of capital markets in Hong Kong [2][10].