今天，港交所迎来一场罕见敲锣

Core Viewpoint - The article highlights the successful listing of TuDatong (Seyond) on the Hong Kong Stock Exchange through the De-SPAC model, marking a significant milestone for the company and the hard technology sector in China [2][12]. Company Overview - TuDatong was founded in 2016 by technical experts Baijunwei and Li Yimin, focusing on the development and mass production of laser radar technology, which is crucial for autonomous driving [3][4]. - The company has achieved a market capitalization exceeding 20 billion HKD after its stock surged over 60% on its debut [2]. Development Journey - The founders faced significant challenges during the early stages, including high R&D costs and skepticism from the automotive industry regarding the feasibility of laser radar technology [5]. - A pivotal moment occurred in 2020 when NIO announced that its flagship model ET7 would feature TuDatong's 1550 nm laser radar, leading to a revenue increase of 1341% in 2022 [6]. Listing Process - TuDatong's listing was facilitated by Tech Star SPAC, which raised approximately 1 billion HKD and completed the merger with TuDatong, making it the first hard technology company to go public via the De-SPAC route [7][8]. - The De-SPAC model offers advantages such as time certainty, transparent valuation, and controlled costs, making it an attractive option for companies seeking to go public [8]. Investment Landscape - TuDatong has attracted a strong lineup of investors, including prominent firms like CICC Capital and Gao Rong Venture Capital, which have supported the company since its early days [10]. - The company is positioned to deliver over 230,000 vehicle-grade laser radars in 2024, ranking second globally in sales revenue for ADAS laser radar solutions [11]. Market Context - The article reflects a broader trend of increasing interest in Chinese technology assets, particularly in sectors like autonomous driving, where companies like TuDatong are gaining recognition for their technological advancements [12][13]. - The successful listing of TuDatong is seen as part of a larger narrative of value reassessment for Chinese tech companies on the global stage [12][13].