Core Viewpoint - The Chinese automotive lidar company, TuDatong (Seyond), plans to merge with the SPAC TechStar Acq (7855.HK) for a valuation of HKD 11.7 billion, aiming to become the third completed DeSPAC merger in Hong Kong after Lion Group (2562.HK) and Zhaogang Group (6676.HK) [1] Company Overview - TuDatong was established in 2016 and specializes in the design, development, and production of automotive-grade lidar solutions [1] - The company's product lineup includes models such as Falcon K1, Falcon K2, Lingque E1X, Lingque W, and OmniVidi [1] - In 2024, TuDatong plans to deliver approximately 230,000 units of lidar systems, with NIO being a major customer [1] Financial and Investment Highlights - The merger has successfully passed the Hong Kong Stock Exchange listing hearing, indicating progress towards public listing [1] - TuDatong received USD 29.29 million in Series A funding led by NIO Capital, highlighting the strong relationship between the two companies [1] - NIO has been a significant customer for TuDatong since the initial product shipment of the Cheetah model in 2018 [1]