Core Viewpoint - Chengtai Technology Co., Ltd. has submitted its prospectus for an IPO on the Hong Kong Stock Exchange, with Guotai Junan International as the sole sponsor [1][3]. Company Overview - Chengtai Technology was founded in September 2016 by Chen Chengwen and Zhou Ke, focusing on the design, research, development, manufacturing, and commercialization of millimeter-wave radar products [3][4]. - As of 2024, Chengtai Technology is the largest supplier of forward-looking millimeter-wave radar for vehicles in China by shipment volume, holding a market share of 9.3%, and is the third-largest supplier of vehicle millimeter-wave radar with a market share of 4.5% [3]. Financing History - The company has raised over 350 million RMB through multiple financing rounds since its inception, including: - 400,000 RMB in angel round (2018) - 800,000 RMB in Pre-A round (2018) - 1.1 million RMB in A round (2019) - 45.6 million RMB in A+ round (2021) - 100 million RMB in B1 round (2021) - 80 million RMB in B2 round (2021) - 40 million RMB in B3 round (2022) - 70 million RMB in C round (2024) [3][4][8]. Shareholder Structure - The initial registered capital of Chengtai Technology was 5 million RMB, with major shareholders including Chen Chengwen, Zhou Ke, and investment platforms [4][5]. - As of the latest updates, the company has undergone several share transfers among its founders and investors, impacting the ownership structure [6][10]. Financial Performance - Chengtai Technology reported revenues of approximately 57.65 million RMB in 2022, 157 million RMB in 2023, and projected 348 million RMB in 2024, with corresponding gross profits of 16.54 million RMB, 48.49 million RMB, and 118.47 million RMB [12][15]. - The company experienced net losses of 79.17 million RMB in 2022, 96.60 million RMB in 2023, and a reduced loss of 21.77 million RMB in 2024 [12][16].