作为中国首个在北京、上海、广州、深圳四大一线城市均取得无人驾驶出行服务许可的自动驾驶公 司，也是中国唯一在北上广深一线城市开展全无人Robotaxi商业化运营的公司，小马智行现已拥有 超720辆Robotaxi的车队。 按照小马智行的规划，本次IPO募集所得资金的约9成都将用于推行市场进入战略并推进L4自动驾驶 技术的大规模商业化以及L4自动驾驶技术及解决方案的开发，以进一步更建起构建L4"技术+商业"壁 垒。 一周IPO动态，覆盖港股、美股、A股。 本文为IPO早知道原创 作者｜C叔 微信公众号｜ipozaozhidao 小 马智 行 港股 ｜挂牌 上市 据IPO早知道消息，Pony AI Inc. – W（以下简称"小马智行"）于2025年11月6日正式以"2026"为股 票代码在港交所完成双重上市。 鉴于机构及市场投资者的强劲需求，小马智行在本次发行中悉数行使发售量调整权，按最终发售价增 发约629万股额外股份，占全球发售初步可供认购股份总数的15%。若超额配股权悉数行使，募资总 额最高达77亿港元。 这意味着，小马智行创下2025全球自动驾驶最大规模IPO，更是刷新了2022年以来全球自动驾驶行 业I ...

Core Viewpoint - Smart Interconnect Technology Co., Ltd. is set to become the "first high-precision AI stock" as it submits its IPO application to the Hong Kong Stock Exchange, aiming for a main board listing [3][4]. Group 1: Company Overview - Established in 2015, Smart Interconnect focuses on AI technology and spatial intelligent solutions, leveraging proprietary high-precision, computer vision, and multimodal perception technologies [4]. - The company has developed various AI algorithms and tools that enhance visual and cognitive capabilities, particularly in urban traffic management, improving safety and operational efficiency [4]. - Smart Interconnect's solutions have been successfully implemented to reduce congestion and accident rates while optimizing parking space utilization and payment accuracy [4]. Group 2: Market Position and Financials - As of June 30, 2025, Smart Interconnect has 257, 179, 120, and 59 clients for the years ending December 31, 2022, 2023, 2024, and June 30, 2025, respectively [5]. - The company ranks fourth in China's smart traffic industry with a market share of 6.6% and holds the first position in spatial roadside solutions with a 19.3% market share, based on 2024 revenue [5]. - The global high-precision AI solutions market has grown from 47.7 billion yuan in 2019 to an estimated 222.5 billion yuan by 2024, with a projected compound annual growth rate of 42.2% reaching 1.433 trillion yuan by 2029 [6]. Group 3: Financial Performance - Smart Interconnect's revenues for 2022, 2023, and 2024 were 538 million yuan, 618 million yuan, and 699 million yuan, respectively, with a revenue of 103 million yuan reported for the first half of 2025 [6]. - The decline in revenue for the first half of 2025 is attributed to fluctuations in project milestones that affect revenue recognition [6]. Group 4: Future Plans - The net proceeds from the IPO will primarily be used to enhance research on cutting-edge technologies, improve product solutions, and expand business applications [6][7]. - Funds will also support overseas business expansion, strengthen sales and marketing teams, and automate production processes [7].