Core Viewpoint - Magnesium Technology Co., Ltd. (referred to as "Magnesium") has officially submitted its prospectus to the Hong Kong Stock Exchange for a main board listing, with notable backing from several investment institutions and a valuation exceeding $930 million in its latest funding round [1][5]. Company Overview - Founded in 2019 by Tsinghua University graduate Zhuang Li, Magnesium focuses on AI-driven integrated domain control solutions aimed at providing innovative smart vehicle manufacturing models for OEMs [3][4]. - The company offers integrated smart cockpit + X domain control solutions, combining various smart automotive functions into a unified physical domain controller for vehicle integration [3]. Financial Performance - Magnesium has reported a narrowing annual loss of 291 million yuan, with cumulative losses exceeding 1 billion yuan over the past three years [1][6]. - Revenue figures for the years 2022 to 2024 are 388 million yuan, 1.513 billion yuan, and 1.42 billion yuan, respectively, with annual losses of 423 million yuan, 357 million yuan, and 291 million yuan [6][7]. - The company's gross margin fluctuated significantly, recorded at 19%, 12.1%, and 21.8% for the years 2022 to 2024 [7]. Investment and Funding - Magnesium has completed six rounds of financing, with notable investors including Shanhang Capital, Red Dot Ventures, and others, achieving a post-money valuation of $60 million in its seed round and over $930 million in its latest round [5][6]. - The net proceeds from the IPO are intended to enhance R&D capabilities, expand the product portfolio, and improve operational funding [5]. Market Position - According to Frost & Sullivan, Magnesium ranks among the top two suppliers of integrated domain control solutions in China based on new installations in 2023 and 2024 [6]. - The company has achieved the fastest cumulative delivery of 1 million units in the integrated domain control solution sector since mass production began [6]. Client Base and Sales - The revenue concentration from the top five clients was high, accounting for 92.8%, 91.2%, and 84.7% of total revenue from 2022 to 2024 [7]. - The number of OEM clients increased from 7 in 2022 to 12 in 2024, with new contracts awarded growing significantly each year [7].

星标 ★ IPO日报 精彩文章第一时间推送 日前，镁佳股份有限公司（下称"镁佳"）正式向港交所递交招股说明书，拟主板挂牌上市，中金公 司、花旗及德意志银行共同担任联席保荐人。 IPO日报注意到，由清华学霸庄莉创立的镁佳年度亏损已收窄至2.91亿元，此次港股上市，公司背后有 着山行资本、红点创投、中移北京基金、中关村集团、M31资本、南山资本、大湾区共同家园发展基 金、慕华科创、元禾等知名机构的投资，最新一轮融资的估值超9.3亿美元。 AI制图 清华学霸夫妻 镁佳成立于2019年，由庄莉创立，专注于AI驱动的集成式域控解决方案，致力于为主机厂提供全新的 智能汽车打造范式。其核心在于，通过模块化的软件架构和智能功能与硬件的无缝融合，实现对传统汽 车的渐进式升级。 具体来讲，镁佳提供的是集成式智能座舱+X域控解决方案，其通过整合包括智能座舱、ADAS泊车、 ADAS驾驶、车联网、OTA升级等多种智能汽车功能，并嵌入统一的实体域控制器，以用于置入车辆 中。 获得博士学位后，庄莉进入微软亚洲研究院担任研究员，主要负责技术开发，工作五年后，庄莉离开了 微软亚洲研究院，进入雅虎公司担任个性化推荐总监，主要负责软件开发。 仅 ...