Company Overview - Smart Interconnect Technology Co., Ltd. has officially submitted its listing application to the Hong Kong Stock Exchange, with CITIC Securities and Jianyin International as joint sponsors [1] - Established in 2015, the company is a leader in the field of artificial intelligence technology and spatial intelligent solutions in mainland China, particularly focusing on urban traffic management [1] Market Position - According to Frost & Sullivan, Smart Interconnect ranks fourth among all spatial intelligent solution providers in the smart transportation industry in mainland China, holding a market share of 6.6% based on projected revenue for 2024 [1] - The company is the leading provider of spatial intelligent roadside solutions, with a market share of 19.3% [1] Financial Performance - The company's revenue for the years 2022, 2023, 2024, and the first half of 2025 is reported as 538.39 million, 618.09 million, 699.74 million, and 102.88 million respectively [3] - Net losses for the same periods are significant, amounting to 360.28 million, 256.72 million, 287.72 million, and 273.40 million [3] Shareholder Structure - Prior to the Hong Kong listing, the major shareholders include Yan Jun, who controls 40.72% of the shares, and Liu Wuzhan, with 9.56%, collectively holding approximately 50.28% of the company [3] - Other notable shareholders include Zhangjiakou Airport, Green Capital, Gao Rong Venture Capital, NIO, Shenzhen Capital Group, and Yuntian Lefe [3] - Xiaomi holds a 4.21% stake in Smart Interconnect through its investment platform, Huanxing Venture Capital, which invested 8.97 million [3]

Core Insights - Smart Connectivity Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities and CCB International as joint sponsors [1] - The company is a leading provider of artificial intelligence technology and spatial intelligent solutions in mainland China, particularly focused on urban traffic management [1] Company Overview - According to Frost & Sullivan, Smart Connectivity ranks fourth among all spatial intelligent solution providers in the smart transportation industry in mainland China, with a market share of 6.6% based on projected 2024 revenue [1] - The company ranks first among all spatial intelligent roadside solution providers in the same industry, holding a market share of 19.3% based on projected 2024 revenue [1] - The company's brands include AIPARK, AITS, AIC, AIPILOT, and ASER [1] Financial Performance - The company's revenue for the years 2022, 2023, 2024, and the first six months of 2025 were RMB 538 million, RMB 618 million, RMB 699 million, and RMB 103 million, respectively [1] - Corresponding net losses for the same periods were RMB 360 million, RMB 257 million, RMB 288 million, and RMB 273 million [1] Shareholder Structure - Before the Hong Kong listing, the shareholder structure shows Yan Jun controlling 40.72% of the shares directly and indirectly, while Liu Wuzhan holds 9.56%, together controlling approximately 50.28% of the company [2] - Other shareholders include Zhangjiakou Airport, Green Capital, Gao Rong Venture Capital, NIO, Shenzhen Capital Group, and Yuntian Lifei [2] - Xiaomi holds a 4.21% stake in Smart Connectivity through its investment platform, Huanxing Venture Capital, with an investment of RMB 8.97 million made in August 2021 [2]