来源：易界DealGlobe 一只"鹰"飞上了港交所12月10日早上9点半,香港交易所主板迎来一个特殊的时刻。 图达通(Seyond)的创始人鲍君威和李义民站在敲锣台前,身后是一群投资人和团队成员。锣声响起的瞬 间,大屏幕上的股价开始跳动——开盘后迅速飙升超60%,市值突破200亿港元。这家成立九年的激光雷达 公司,用一种不太常见的方式登陆了资本市场。 这不是一场普通的IPO。图达通走的是De-SPAC路径——一年前,由清科集团等发起的TechStar SPAC(特 殊目的收购公司)宣布与图达通达成并购协议,经过一年多的交易推进,图达通最终继承TechStar的上市地 位正式挂牌,成为港股历史上第一家通过De-SPAC方式上市的硬科技企业。 对很多人来说,De-SPAC这个词还有点陌生。简单说,就是一家空壳上市公司去收购一家优质的未上市公 司,后者通过这种"借壳"方式快速完成上市。在美国市场这已经是成熟玩法,但在香港,图达通是第一个吃 螃蟹的。 为什么选这条路?一个现实原因是:传统IPO周期太长、变数太多。对于正处在快速扩张期、需要资金支 持的科技公司来说,时间就是生命。De-SPAC模式"时间确定、估值透明 ...

转自：黄山日报 12月10日，激光雷达制造商图达通正式在香港联合交易所挂牌上市，截至10时30分，涨幅50%，市值超200亿元。此次上市是中国大陆首单硬科技企业采 用De-SPAC模式登陆港股的标杆项目，在资本市场具有开创性意义。 值得关注的是，黄山市市属国有投资平台黄山建投集团以近3.7亿元PIPE投资深度参与其中。这也是继2025年奇瑞汽车基石投资后，黄山市在国际化产业 投资领域迈出的又一关键步伐。 目前，图达通已明确将境内经营主体落地黄山。 作为车规级激光雷达解决方案提供商，图达通在行业内具备显著技术壁垒与市场优势。其核心产品广泛覆盖自动驾驶、智慧交通、服务机器人等前沿产业 领域，是同时掌握1550nm和905nm双技术路线且具备规模化量产能力的激光雷达企业。 黄山市对图达通的战略投资，既是积极响应安徽省科技创新与新质生产力发展战略、助力全省新能源汽车产业整体布局的重要举措，更是本地产业转型升 级进程中的重要事件。 这一项目的落地将产生强劲的产业集聚效应。一方面为黄山新能源汽车产业发展注入核心动能；另一方面直接填补本地高端智能装备制造领域的多项产业 空白，推动区域产业结构向高端化、智能化、绿色化加速迈进 ...

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].