图达通Seyond，成功借壳SAPC在香港上市

Core Viewpoint - The company TuDatong (02665.HK), a provider of automotive-grade LiDAR solutions, successfully went public on the Hong Kong Stock Exchange through a SPAC merger with TechStar (07855.HK) on December 10, 2025 [2][12]. Group 1: Company Overview - TuDatong was established in 2016 and is recognized as a global leader in designing, developing, and producing automotive-grade LiDAR solutions for Advanced Driver Assistance Systems (ADAS) and Autonomous Driving Systems (ADS) [4][12]. - In 2024, TuDatong is projected to deliver over 230,000 automotive-grade LiDAR units, ranking fourth globally in sales revenue from ADAS LiDAR solutions with a market share of 12.8% [4][12]. Group 2: Financial Details - The company raised approximately HKD 5.513 billion from three PIPE investors, including Nio Nextev Limited, which agreed to subscribe for about 28.67 million shares [2][12]. - The total amount raised from the public offering was approximately HKD 3.71 billion, with a net amount of about HKD 3.61 billion after expenses [3][13]. Group 3: Market Performance - On the first day of trading, TuDatong's shares closed at HKD 13.30, reflecting a 33% increase, with a total market capitalization of approximately HKD 17.274 billion [5][15]. - The shares were initially offered at HKD 10 each, with a total issuance of approximately 370.82 million shares [3][13]. Group 4: Shareholder Structure - Post-merger, existing shareholders of the target company hold 90.08% of the shares, while PIPE investors hold 4.24% [4][14]. - Nio Nextev Limited holds 2.21% of the shares, and other approved equity financing recipients hold 0.65% [4][14].