商汤、京东参投，估值增310倍！

Core Viewpoint - Teslin Technology Co., Ltd. (formerly Chongqing Teslin Technology Co., Ltd.) has submitted a prospectus to the Hong Kong Stock Exchange for a main board listing after two previous failed attempts in 2024 and 2025 [1] Group 1: Company Overview - Founded in 2015, Teslin provides a full-stack AIoT product suite, including software, hardware, and services, through its AioT operating system, TacOS [5] - According to a report by Zhaosheng Consulting, Teslin ranks among the top five public domain AIoT product providers in China based on 2024 revenue [6] Group 2: Financial Performance - Teslin's revenue for the years 2022 to 2025 (first half) was approximately 738 million, 1 billion, 1.843 billion, and 632 million respectively, with a compound annual growth rate (CAGR) of 58% over the past three years [7] - The company reported a net loss of approximately 2.387 billion, 803 million, 2.1 billion, and 574 million for the same periods, indicating it has not yet achieved profitability [8] Group 3: Investment and Valuation - Over nine rounds of financing since its angel round in 2016, Teslin has raised a total of 5.3 billion, with the latest round in May 2025 raising approximately 1.619 billion, leading to a valuation increase from 70 million to 21.691 billion, a growth of about 310 times [11] - Notable investors include SenseTime, JD.com, and various well-known venture capital firms [11] Group 4: Future Plans - The funds raised from the IPO will primarily be used to enhance R&D capabilities, particularly in TacOS, green computing infrastructure, and large model development, as well as to support commercialization and market expansion [12]