Core Viewpoint - Boleton, a domestic pure electric engineering machinery manufacturer, is launching an IPO with plans to issue 13 million shares at a price of 18 HKD per share, aiming to raise approximately 147.8 million HKD for technological advancements and manufacturing facilities [1][2]. Company Overview - Boleton specializes in designing and commercializing electric engineering machinery with autonomous operation capabilities, including electric loaders and dump trucks, and provides smart operation services [2]. - In 2024, Boleton ranked third and seventh among all new energy wide-body dump truck and loader manufacturers in China, with market shares of 18.3% and 3.8% respectively, being the only pure new energy engineering machinery manufacturer among the top players [2]. Financial Performance - Boleton's sales of electric wide-body dump trucks surged from 59 units in 2022 to 307 units in 2024, achieving a compound annual growth rate of 128.1% [2]. - The company's total revenue increased from 360 million RMB in 2022 to 635 million RMB in 2024, reflecting steady growth [2]. - Despite revenue growth, Boleton reported net losses of 178 million RMB, 229 million RMB, and 275 million RMB for 2022, 2023, and 2024 respectively, indicating an expanding trend in losses due to significant upfront investments in product development and market penetration strategies [2]. Investment and Valuation - Boleton has attracted interest from various investment firms and completed multiple funding rounds, achieving a valuation of 5.248 billion RMB after its C+ round in March 2023 [3].
博雷顿预计5月7日香港上市