Core Viewpoint - Shanghai Zhida Technology Development Co., Ltd. (Zhida Technology) has passed the listing hearing on the Hong Kong Stock Exchange, with Shenwan Hongyuan Hong Kong as its sole sponsor [1] Group 1: Business Overview - Zhida Technology focuses on providing smart home electric vehicle charging piles to automotive manufacturers and users, developing a "three-in-one" electric vehicle home charging solution consisting of products, services, and a digital platform [3] - The product portfolio includes smart home electric vehicle charging piles and accessories, electric vehicle charging robots, EMS solutions, and pipeline products, serving as a key entry point for home digital energy management [3] - The company has established a digital platform that connects a vast network of third-party installation and after-sales service providers, supporting shared charging services [3] Group 2: Market Position - According to Frost & Sullivan, Zhida Technology ranks first in China in terms of sales volume and sales revenue of home electric vehicle charging piles during the historical record period, with a market share of 13.6% in China and 9.0% globally [3] - The company is recognized as a leading provider of electric vehicle home charging solutions, having established partnerships with seven of the top ten automotive manufacturers in China based on 2024 electric vehicle sales [5] - Zhida Technology's products and services are available in 22 countries, with a notable presence in rapidly growing electric vehicle markets such as Thailand and Brazil [5] Group 3: Financial Performance - For the fiscal years 2022, 2023, and 2024, Zhida Technology reported revenues of approximately RMB 697 million, RMB 671 million, and RMB 593 million, respectively, with gross profits of RMB 142 million, RMB 138 million, and RMB 88.6 million [6][7] - The revenue from smart home electric vehicle charging piles accounted for 94.1%, 89.3%, 93.2%, and 92.7% of total product sales revenue for the years 2022, 2023, 2024, and the three months ending March 31, 2025, respectively [4] - The company has incurred operating losses of RMB 29 million, RMB 69 million, and RMB 231 million for the fiscal years 2022, 2023, and 2024, respectively [7]

Core Viewpoint - Company announced a placement and subscription agreement to raise approximately HKD 15.725 billion, enhancing its capital base for long-term development and drug pipeline funding [1][2] Group 1: Placement and Subscription Details - The seller, C-Bridge IV Investment Two Limited, will sell 22.561 million shares at a price of HKD 69.70 per share, representing about 6.87% of the total issued shares as of the announcement date [1] - The subscription shares will equal the number of shares sold, leading to an enlarged total issued share capital of approximately 6.43% post-completion [1] Group 2: Use of Proceeds - The net proceeds from the placement and subscription are expected to be around HKD 15.534 billion, which will be allocated as follows: 50% for global R&D of pipeline products, 40% for commercialization efforts including new product launches, and 10% for general administrative expenses [2]