小马智行今起招股：获Eastspring等1.2亿美元基石投资，至多募集超10亿美元

Core Viewpoint - Pony AI Inc. is preparing for an IPO, aiming to raise over 7.5 billion HKD (over 1 billion USD) through the issuance of shares, with a focus on expanding its Robotaxi fleet and achieving operational profitability by 2025 [5][6][8]. Group 1: IPO Details - Pony AI plans to issue 41,955,700 shares, with 4,195,600 shares available for public sale in Hong Kong and 37,760,100 shares for international sale, including a 15% over-allotment option [4]. - The maximum offering price is set at 180 HKD per share, potentially raising over 7.5 billion HKD [5]. Group 2: Business Operations and Growth - The company currently operates a fleet of over 720 Robotaxis and aims to exceed 1,000 vehicles by the end of the year, which is expected to lead to operational breakeven by 2025 [6][8]. - Robotaxi services are available 24/7 in cities like Guangzhou and Shenzhen, with an average of over 15 orders per day, marking a significant milestone in commercial operations [7]. Group 3: Financial Performance - In Q2, the Robotaxi business revenue surged by 157.8% year-on-year to 10.9 million RMB (1.5 million USD), with passenger fare revenue increasing by over 300% [10]. - The unit economic model has improved significantly, with adjusted R&D expenses of 316 million RMB, supporting the production and commercialization of the seventh-generation Robotaxi [10]. Group 4: Strategic Investments and Market Position - Pony AI has attracted significant investments from major international long-term investors, including Prudential's Eastspring and various strategic partners, enhancing its market position [6][12]. - The company has established a global presence with R&D centers in multiple countries, including the U.S., Luxembourg, and several Middle Eastern nations, facilitating technology and product expansion [10]. Group 5: Future Prospects - Successful listing on the Hong Kong stock exchange is expected to broaden the investor base and enhance liquidity, potentially allowing for participation in the Stock Connect program, which would strengthen its global strategy [14].