Group 1 - The core viewpoint of the article is that Vietnamese electric taxi operator GSM plans to go public in Hong Kong, aiming to raise at least $200 million with a valuation between $2 billion and $3 billion by late 2026 to early 2027 [1][2] - GSM was founded in 2023 by Pham Nhat Vuong, who is also the head of Vingroup and VinFast, and operates Vietnam's largest all-electric taxi fleet under the brand Xanh SM, exclusively using VinFast vehicles [1][2] - By Q3 2025, sales from VinFast to GSM are expected to account for 26% of VinFast's total sales, a decrease from 72% in 2023, indicating a shift in business dynamics [1] Group 2 - Listing in Hong Kong is expected to provide broader liquidity compared to Singapore or Nasdaq, enhancing investor interest in the electric vehicle and mobility sectors [2] - If the IPO is successful, it will provide funding for GSM's regional growth and strengthen its competitive position in Southeast Asia, alleviating financial pressure on Vingroup and Vuong amid ongoing costly expansion efforts [2] - GSM captured approximately 40% of Vietnam's ride-hailing market in Q1 of this year, demonstrating strong market presence and growth potential [2]

据媒体报道，越南电动出租车营运商GSM(Green and Smart Mobility)计划来港上市。知情人士透露， GSM目标于2026年底至2027年初进行首次公开募股(IPO)，集资至少2亿美元，估值达20亿至30亿美元。 知情人士表示，GSM已与潜在顾问就IPO事宜进行初步洽谈，最早可能在2026年Q1任命顾问。该IPO计 划仍处于试探阶段，可能被搁置;若成功，GSM将成为首家在香港上市的越南企业。 来源：智通财经网 香港也在加大力度吸引海外发行人，港交所行政总裁陈翊庭今年6月曾表示，港交所正计划吸引东南亚 和中东地区已上市的公司赴港二次上市，以提升其全球影响力。 GSM由Vingroup(VIC.HM)及VinFast(VFS.US)负责人Pham Nhat Vuong于2023年创立，经营越南最大的全 电动出租车车队，品牌为Xanh SM，且只使用VinFast车辆。这一战略提升了VinFast的国内销售额，同 时使GSM能在不依赖第三方供应商情况下扩大规模。到2025年第三季度，VinFast对GSM的销售额占其 总销售额的26%，低于2023年的72%。 机构调研数据显示，GSM今年第一季度 ...

如果成功在港上市，将会为GSM的区域性增长提供资金，巩固其在东南亚竞争市场中的地位，并缓解 VinFast在持续进行成本高昂的扩张和发展工作时，为Vingroup和Vuong带来的财务压力。 据媒体报道，越南电动出租车营运商GSM(Green and Smart Mobility)计划来港上市。知情人士透露， GSM目标于2026年底至2027年初进行首次公开募股(IPO)，集资至少2亿美元，估值达20亿至30亿美元。 知情人士表示，GSM已与潜在顾问就IPO事宜进行初步洽谈，最早可能在2026年Q1任命顾问。该IPO计 划仍处于试探阶段，可能被搁置;若成功，GSM将成为首家在香港上市的越南企业。 GSM由Vingroup(VIC.HM)及VinFast(VFS.US)负责人Pham Nhat Vuong于2023年创立，经营越南最大的全 电动出租车车队，品牌为Xanh SM，且只使用VinFast车辆。这一战略提升了VinFast的国内销售额，同 时使GSM能在不依赖第三方供应商情况下扩大规模。到2025年第三季度，VinFast对GSM的销售额占其 总销售额的26%，低于2023年的72%。 消息人士指， ...

本文源自：格隆汇 GSM由Vingroup和VinFast(VFS.US)负责人Pham Nhat Vuong于2023年创立，经营越南最大的全电动计程 车车队，品牌为Xanh SM，且只使用VinFast车辆。该策略提振VinFast的国内销售，同时使GSM能在不 依赖第三方供应商情况下扩大规模。到2025年第三季度，VinFast对GSM的销售额占其总销售额的 26%，低于2023年的72%。 12月29日，越南电动计程车营运商GSM(Green and Smart Mobility)据报计划来香港IPO。路透引述知情人 士称，与越南电动车龙头VinFast有关联的GSM，目标于2026年底至2027年初进行IPO，至少集资2亿美 元，估值达20亿至30亿美元。若成功，将会成为首家在香港上市的越南企业。消息人士称，GSM已与 潜在顾问就IPO事宜进行初步洽谈，最快可能在2026年第一季任命顾问。 ...

Core Viewpoint - Vietnamese electric taxi operator GSM plans to conduct an IPO in Hong Kong, aiming to raise at least $200 million with a valuation between $2 billion and $3 billion, potentially becoming the first Vietnamese company to list in Hong Kong [1] Group 1: IPO Plans - GSM is targeting an IPO between the end of 2026 and early 2027 [1] - The company has begun preliminary discussions with potential advisors for the IPO, with the earliest appointment of advisors expected in the first quarter of 2026 [1] Group 2: Company Background - GSM was founded in 2023 by Vingroup and VinFast's Pham Nhat Vuong, operating the largest all-electric taxi fleet in Vietnam under the brand Xanh SM, exclusively using VinFast vehicles [1] - This strategy boosts VinFast's domestic sales while allowing GSM to scale without relying on third-party suppliers [1] Group 3: Financial Projections - By the third quarter of 2025, sales from VinFast to GSM are projected to account for 26% of VinFast's total sales, a decrease from 72% in 2023 [1]