Core Viewpoint - Chery Automobile is entering the Vietnamese market in 2024, opting for a cooperative approach rather than direct competition with local EV leader VinFast, which currently holds about 30% market share [2][9]. Group 1: Investment and Production Plans - Chery plans to establish a factory in Vietnam's Hai Duong Province with a total investment of approximately $800 million, focusing on producing its main brand "Omoda" and other models [4]. - The initial production capacity of the new factory is set to be between 30,000 to 60,000 vehicles per year, with expectations to increase to 200,000 by 2030 [4]. - The factory is strategically located about two hours from Hanoi and near the major export port of Haiphong, allowing for potential exports to Southeast Asia and Europe [6]. Group 2: Sales and Market Strategy - Chery aims to enhance its sales operations in Vietnam, targeting over 10,000 vehicle sales by 2026 and increasing its dealership network from approximately 40 to 75 [6]. - The current offerings include plug-in hybrid vehicles (PHVs) and gasoline cars, with plans to introduce pure electric vehicles (EVs) and hybrid vehicles (HVs) by 2026 [6]. - Chery has a history of exporting vehicles, having sold over 13 million cars in more than 100 countries, but is entering the Vietnamese market later than competitors [8]. Group 3: Competitive Landscape - The Vietnamese new car market saw over 500,000 vehicle sales from January to November 2025, with VinFast selling 147,450 EVs, showcasing its strong presence [8]. - Chery is exploring potential collaborations with VinFast, including shared EV charging infrastructure, to attract consumer demand without direct competition [9]. - As Chinese automakers like BYD and Geely also plan to enter the Vietnamese market, the competitive environment is expected to intensify, prompting Japanese automakers to possibly adjust their strategies [9].

Group 1 - The core viewpoint of the article is that Vietnamese electric taxi operator GSM plans to go public in Hong Kong, aiming to raise at least $200 million with a valuation between $2 billion and $3 billion by late 2026 to early 2027 [1][2] - GSM was founded in 2023 by Pham Nhat Vuong, who is also the head of Vingroup and VinFast, and operates Vietnam's largest all-electric taxi fleet under the brand Xanh SM, exclusively using VinFast vehicles [1][2] - By Q3 2025, sales from VinFast to GSM are expected to account for 26% of VinFast's total sales, a decrease from 72% in 2023, indicating a shift in business dynamics [1] Group 2 - Listing in Hong Kong is expected to provide broader liquidity compared to Singapore or Nasdaq, enhancing investor interest in the electric vehicle and mobility sectors [2] - If the IPO is successful, it will provide funding for GSM's regional growth and strengthen its competitive position in Southeast Asia, alleviating financial pressure on Vingroup and Vuong amid ongoing costly expansion efforts [2] - GSM captured approximately 40% of Vietnam's ride-hailing market in Q1 of this year, demonstrating strong market presence and growth potential [2]

据媒体报道，越南电动出租车营运商GSM(Green and Smart Mobility)计划来港上市。知情人士透露， GSM目标于2026年底至2027年初进行首次公开募股(IPO)，集资至少2亿美元，估值达20亿至30亿美元。 知情人士表示，GSM已与潜在顾问就IPO事宜进行初步洽谈，最早可能在2026年Q1任命顾问。该IPO计 划仍处于试探阶段，可能被搁置;若成功，GSM将成为首家在香港上市的越南企业。 来源：智通财经网 香港也在加大力度吸引海外发行人，港交所行政总裁陈翊庭今年6月曾表示，港交所正计划吸引东南亚 和中东地区已上市的公司赴港二次上市，以提升其全球影响力。 GSM由Vingroup(VIC.HM)及VinFast(VFS.US)负责人Pham Nhat Vuong于2023年创立，经营越南最大的全 电动出租车车队，品牌为Xanh SM，且只使用VinFast车辆。这一战略提升了VinFast的国内销售额，同 时使GSM能在不依赖第三方供应商情况下扩大规模。到2025年第三季度，VinFast对GSM的销售额占其 总销售额的26%，低于2023年的72%。 机构调研数据显示，GSM今年第一季度 ...

Core Viewpoint - GSM, a Vietnamese electric taxi operator, plans to go public in Hong Kong with an IPO aimed at raising at least $200 million and achieving a valuation between $2 billion and $3 billion by late 2026 to early 2027 [1][2] Group 1: Company Overview - GSM was founded in 2023 by Pham Nhat Vuong, the head of Vingroup and VinFast, and operates Vietnam's largest all-electric taxi fleet under the brand Xanh SM, exclusively using VinFast vehicles [1] - By Q3 2025, VinFast's sales to GSM are projected to account for 26% of its total sales, a decrease from 72% in 2023, indicating a strategy to scale without relying on third-party suppliers [1] Group 2: Market Position and Growth - In Q1 of this year, GSM captured approximately 40% of Vietnam's ride-hailing market, demonstrating strong momentum and a solid market leadership position [2] - GSM has expanded its operations to Laos, Indonesia, and the Philippines, and is exploring potential entry into the Indian market [2] Group 3: IPO and Market Strategy - The IPO plan is still in the exploratory phase and may be postponed; however, if successful, GSM would become the first Vietnamese company to list in Hong Kong [1] - Listing in Hong Kong is expected to provide broader liquidity compared to Singapore or Nasdaq, enhancing investor interest in the electric vehicle and mobility sectors [2] - The potential IPO could provide funding for GSM's regional growth and alleviate financial pressure on Vingroup and Vuong amid ongoing costly expansion efforts [2] Group 4: Industry Context - The Hong Kong Stock Exchange is actively seeking to attract overseas issuers, with plans to encourage Southeast Asian and Middle Eastern companies to pursue secondary listings to enhance its global influence [2]

Core Viewpoint - GSM, a Vietnamese electric taxi operator, plans to conduct an IPO in Hong Kong aiming to raise at least $200 million with a valuation between $2 billion and $3 billion, potentially becoming the first Vietnamese company to list in Hong Kong [1] Group 1: IPO Plans - GSM is targeting an IPO between late 2026 and early 2027 [1] - The company has begun preliminary discussions with potential advisors for the IPO, with the earliest appointment of advisors expected in the first quarter of 2026 [1] Group 2: Company Background - GSM was founded in 2023 by Vingroup and VinFast's Pham Nhat Vuong and operates the largest all-electric taxi fleet in Vietnam under the brand Xanh SM, exclusively using VinFast vehicles [1] - This strategy has boosted VinFast's domestic sales while allowing GSM to scale without relying on third-party suppliers [1] Group 3: Financial Projections - By the third quarter of 2025, sales from VinFast to GSM are projected to account for 26% of VinFast's total sales, a decrease from 72% in 2023 [1]

Core Viewpoint - Vietnamese electric taxi operator GSM plans to conduct an IPO in Hong Kong, aiming to raise at least $200 million with a valuation between $2 billion and $3 billion, potentially becoming the first Vietnamese company to list in Hong Kong [1] Group 1: IPO Plans - GSM is targeting an IPO between the end of 2026 and early 2027 [1] - The company has begun preliminary discussions with potential advisors for the IPO, with the earliest appointment of advisors expected in the first quarter of 2026 [1] Group 2: Company Background - GSM was founded in 2023 by Vingroup and VinFast's Pham Nhat Vuong, operating the largest all-electric taxi fleet in Vietnam under the brand Xanh SM, exclusively using VinFast vehicles [1] - This strategy boosts VinFast's domestic sales while allowing GSM to scale without relying on third-party suppliers [1] Group 3: Financial Projections - By the third quarter of 2025, sales from VinFast to GSM are projected to account for 26% of VinFast's total sales, a decrease from 72% in 2023 [1]

点 击 蓝 字 关 注 我 们 本文全文共 4066 字，阅读全文约需 13 分钟 目录 国内新闻 3.湖南电动汽车年出口额破百亿元 4.广州前11个月新能源车累计产量增长22.6% 1.国家发改委:培育邮轮游艇、汽车营地等体验经济 2.无锡市追加1亿元购车补贴:不限购车人户籍 1.韩国将乘用车消费税减免政策再延长6个月 2.福特将推迟在欧洲推出全新电动平台 5.深蓝汽车首批L3级自动驾驶车辆将于明日正式上牌及上路 6.火山引擎:与比亚迪在智能座舱领域达成深度合作 7.理想超充站累计上线数突破3700座 超充桩达20505根 8.宁德时代与思源电气签署储能合作备忘录 国外新闻 3.VinFast印尼纯电动汽车新工厂落成 4.博世联合英伟达、微软在CES 2026发布AI驾驶舱平台 商用车 1. 我国超25万辆老旧货车淘汰 2. 汉马科技"醇氢+电动"方案亮相江苏物流大会 3. 速豹eTOPAS600首批下线并通过德国标准单车认证 4. 比亚迪与德国联邦铁路签电动大巴框架协议 国内新闻 1 国家发改委:培育邮轮游艇、汽车营地等体验经济 时间:2025.12.25 来源:财联社 12月25日电，国家发展改革委基础 ...

Group 1 - VinFast Auto Ltd. (NASDAQ:VFS) is recognized as one of the 10 best electric vehicle stocks to buy heading into 2026 [1] - Edison Group initiated coverage on VinFast with a valuation of $8.00 per share, indicating a potential upside of 143% from current levels [2] - VinFast plans to invest $500 million in India to expand its manufacturing capabilities, including electric buses, scooters, and charging stations [3] Group 2 - The Thoothukudi plant, which began operations in July, has an initial production capacity of 50,000 vehicles per year, with plans to double this capacity to 150,000 vehicles within a year [4] - In 2024, VinFast delivered 97,399 electric vehicles globally and aims to increase deliveries in 2025 while adding 35 dealerships in 27 locations by December [4] - The company is involved in the development and manufacturing of high-quality electric vehicles, e-scooters, and e-buses, alongside offering leasing services and trading smartphones [5]

Investment Plans - VinFast Auto Ltd. plans to increase its investment in Indonesia to up to $1 billion, following the inauguration of its first manufacturing plant with an annual production capacity of 50,000 cars [1][2] - The CEO of VinFast Indonesia, Kariyanto Hardjosoemarto, stated that the company aims to boost production capacity to 350,000 cars per year [2] Production and Capacity - The manufacturing plant located in Subang, West Java, has recently begun trial production and is expected to reach full capacity in the first quarter of 2026 [3] - VinFast has already invested $300 million in the region, indicating a strong commitment to expanding its operations in Southeast Asia [2] Strategic Focus - VinFast management emphasized the company's focus on expanding its international footprint and announced a new vehicle platform for 2026, which could contribute approximately 70-80% to sales [4] - The company remains committed to international market growth and aims to achieve economies of scale through higher production [4] Company Overview - VinFast Auto Ltd. is a Vietnamese company specializing in electric vehicles (EVs), e-scooters, and e-buses, and was incorporated in 2017 [5]

Table of Contents As filed with the U.S. Securities and Exchange Commission on December 17, 2025 Registration No. 333-290602 UNITED STATES SECURITIES AND EXCHANGE COMMISSION TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Black Spade Acquisition III Co (Exact Name of Registrant as Specified in Its Charter) Washington, D.C. 20549 AMENDMENT NO. 3 (Address, including zip code, and telephone number, including area code, of registrant's principal executive offices) Cogency Global Inc. 122 Eas ...