2025年以来，AI发展势头迅猛，应用场景也如潮水般涌来，加速制造业、服务业、城市治理及交通运 输等领域的数字与智能转型。拓必达作为AI智能交通领域的先行者，赴港上市或被市场高度关注。 了解到，近日拓必达向港交所主板递交上市申请书，中泰国际为其独家保荐人。该公司是智能交通供应 商，核心业务聚焦于交通领域，根据弗若斯特沙利文的数据，该公司是参与中国首批大型交通拥堵治理 项目之一，亦是率先应用AI实现城市级全息路网的领头者之一。 该公司业绩呈现波动性，2024年及2025年前三季度，收入分别增长-34%及184.2%，这波动主要为公司 项目验收结转时间周期所致。此外，该公司盈利波动也非常明显，2025年前三季度，期间净利率 16.2%，同比下滑15.12个百分点，而2023年及2024年分别为24.5%及31.8%。 截止2025年11月，拓必达拥有现金及等价物仅为0.25亿元，值得注意的是，2023年及2024年其现金等价 物分别仅为507.3万元及520.6万元。该公司现金流少，此次上市或为补充流动资金。 多元驱动业绩加速，但客户集中度高 拓必达重视研发，2025年前三季度，该公司研发费用率为3.1%，截至可 ...

聚焦交通与城市管理，2025年业绩大幅回升 拓必达成立于2013年，核心业务聚焦交通领域，构建了"智能解决方案+维护服务+ICT相关解决方案"的 三维业务模式，同时已成功拓展至城市管理及企业与社区服务等多元应用场景。公司运用物联网、大数 据及AI技术，打造专属四层模块化架构，通过云边一体化框架无缝连接前端传感器、边缘计算及云平 台，有效破解数据孤岛、集成困难及运营成本高昂等行业痛点。 1月26日，拓必达(集团)控股有限公司（以下简称"拓必达"）已正式向香港联交所递交上市申请，拟登 陆主板，中泰国际担任独家保荐人。 在核心的交通业务板块，公司提供两大智能解决方案：智能交通感知系统通过交通信号机、电子监测系 统等设备部署，实现违规行为自动侦测、实时交通数据采集及自适应信号控制；云边端智能交通系统则 基于协同架构，构建一体化交通管理平台及信号控制系统，达成多源数据融合与实时交通监测。其中， 公司参与的中国首批大型交通拥堵治理项目，为交通局提供覆盖300公里城市路网的综合解决方案，充 分彰显技术实力。 在城市管理领域，公司解决方案涵盖智能城市管理、维护服务及ICT相关服务，运用大数据、物联网及 AI技术实现实时监测、 ...

Company Overview - The company, Topida (Group) Holdings Limited, is a well-known intelligent transportation supplier in Guangdong Province and a leader in applying AI for city-level holographic road networks [4] - It utilizes IoT, big data, and AI technologies to establish autonomous systems through a proprietary four-layer modular architecture, effectively addressing key challenges such as data silos and high operational costs [4] - The core business focuses on the transportation sector, providing two main categories of intelligent solutions aimed at promoting digitalization in traffic governance and building a smarter, data-driven urban mobility system [4] Business Model - The company's operational model revolves around three business lines: (i) intelligent solutions, (ii) maintenance services, and (iii) ICT-related solutions [5] - Although the company's expertise lies in the transportation sector, it has successfully expanded this model to other key markets, including urban management and various applications targeting enterprise and community needs [5] - The solutions are designed to be flexible, deployable as complete end-to-end solutions or as standalone modules, ensuring rapid deployment and adaptability to customer expansion needs [5] Financial Performance - The company's revenue for the fiscal years 2023, 2024, and the first nine months of 2025 were approximately RMB 191.995 million, RMB 125.946 million, and RMB 271.208 million respectively [7] - The annual/profit for the same periods were RMB 47.034 million, RMB 40.070 million, and RMB 43.908 million respectively [8] - The gross profit margins for these periods were 34.5%, 50.6%, and 26.3% respectively [9] Industry Overview - The intelligent transportation systems market is projected to grow from approximately RMB 152.9 billion in 2020 to RMB 274.1 billion by 2024, with a compound annual growth rate (CAGR) of 15.7% [12] - The market is expected to reach around RMB 687.1 billion by 2030, driven by investments in areas such as autonomous driving roadside systems and AI-driven operational management [12] - Guangdong Province, as a pioneer in intelligent transportation applications, is expected to see its market grow from RMB 18.1 billion in 2020 to RMB 33.3 billion by 2024, with a CAGR of approximately 16.5% [13] Market Demand - The demand for intelligent and digital urban management solutions in Guangdong Province is strong and sustained, driven by increasing urban operational complexity and ongoing investments in smart city construction [20] - The market for intelligent urban management solutions in Guangdong is projected to grow from approximately RMB 21 billion in 2020 to RMB 42.8 billion by 2024, with a CAGR of about 19.5% [20]

Core Viewpoint - The company, Topida (Group) Holdings Limited, has submitted a listing application to the Hong Kong Stock Exchange, with Zhongtai International as its sole sponsor. It is recognized as a leading smart transportation supplier in Guangdong Province and a pioneer in applying AI for city-level holographic road networks [1]. Group 1: Company Overview - Topida is a prominent smart transportation supplier in Guangdong Province, leveraging IoT, big data, and AI technologies [1]. - The company has developed a proprietary four-layer modular architecture to establish autonomous systems, effectively addressing key challenges such as data silos, integration difficulties, and high operational costs [1]. Group 2: Business Focus - The core business of Topida is centered on the transportation sector, offering two main categories of intelligent solutions aimed at promoting digitalization in traffic governance and building a smarter, data-driven urban mobility system [4]. - The intelligent traffic perception system includes the design and deployment of advanced sensing devices like traffic signal machines and electronic monitoring systems, enabling automatic detection of violations, real-time traffic data collection, and adaptive signal control to significantly enhance road safety and traffic efficiency [4]. - The cloud-edge intelligent traffic system is based on a collaborative architecture, creating an integrated traffic management platform and signal control system that achieves multi-source data fusion and real-time traffic monitoring along roadways [4].

香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性或 完整性亦不發表任何意見，並明確表示概不就因本申請版本全部或任何部分內容而產生或因倚賴該等 內容而引致的任何損失承擔任何責任。 Tobita (Group) Holdings Limited 拓 必 達（ 集 團 ）控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監會」） 的要求而刊發，僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，其內所載資料並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即 代表 閣下知悉、接納並向拓必達（集團）控股有限公司（「本公司」）、其獨家保薦人、獨家整體協 調人、顧問或包銷團成員表示同意： 於本 公司 招股 章程 根據 香港 法例 第32 章公 司（清 盤及 雜項 條文）條例 送呈 香港 公司 註冊 處處 長登 記前，不會向香港公眾人士提出要約或邀請。倘在適當時候向香港公眾人士提出要約或邀請，有 意投資者務請僅依據於香港公司註冊處處長登記的本公司招股章程作出投資決定。該文件的文 ...