Reporter Shi Feiyue Lu Xiao Beijing reported
Xiaoma Zhixing’s autonomous driving business continued to advance.On April 25, the company and Toyota China and GAC Toyota announced that the three -party joint venture company was about to complete the registration. The first phase of the plan will put thousands of platinum 4X autonomous vehicles to the Chinese market.The Robotaxi operating platform of Xiaoma Zhixing carried out large -scale self -driving travel services in first -tier cities in China.
This is the first market action announced by Xiaoma Zhixing after the announcement of the listing.Recently, the China Securities Regulatory Commission announced the notice of the listing of Listing and listing overseas, showing that the company intends to be listed in the United States, which also means that one member of the autonomous driving is being queued and listed.However, it is not known when it can be listed and after listing. Wenyuan Zhixing, who has also been filing to the United States, has not yet made any progress, and Zhixing Technology’s stock price listed in Hong Kong has risen by 266%.
Listing to open a new way for financing
According to the official website of the China Securities Regulatory Commission, Xiaoma Zhixing plans to issue no more than 98,149,500 ordinary shares and listed on the Nasdaq Stock Exchange in the United States or the New York Stock Exchange.
In fact, as early as 2021, Xiaoma Zhixing revealed that it was considering listing in the United States.Jia Xinguang, an analyst at the automotive industry, pointed out that at that time, due to relevant policies and chip problems, L3 and L4 in the industry could not really land in the industry.effect.
In fact, companies in autonomous driving tracks have been listed in the past two years.Zhixing Technology successfully entered the Hong Kong Stock Exchange in December last year. Wen Yuan Zhixing, Ruqi Travel, Zongmu Technology, Horizon, Black Sesame Smart and other companies also submitted a prospectus.
Also applying for listing in the United States, although Wen Yuan Zhiye has completed the filing of overseas listing in August last year, it is still close to the time when the filing expires, and no progress has been seen.
The Zhixing Technology, which was listed on the Hong Kong Stock Exchange, became a dark horse. Although the first day of listing was unfavorable and fell 12.82%, the stock price then rose along the way. As of the close of April 25, Zhixing Technology’s stock price has reached 108.5 Hong Kong dollars/share, Increased by 266%higher than the issuance price.
Zhang Xiaorong, Dean of the In -depth Science and Technology Research Institute, told the reporter of “Huaxia Times” that Koma Zhixing has strong technological innovation capabilities, the full stack of L4 -level autonomous driving technology, business covering Robotaxi (autonomous driving taxi service) and Robotruck (Autonomous truck services) have been tested and commercialized, and cooperated with many well -known car companies such as Toyota.”It is said that the current valuation has reached 8.5 billion US dollars, which is one of the world’s most valuable autonomous driving companies, but so far, it still lacks famous application cases and actual landing plans.”
As for the reasons for listing in the United States, the reporter of the Huaxia Times interviewed Xiaoma Zhixing, and as of the press time, the other party did not give a reply.
The reporter noticed that Xiao Ma Zhixing itself was established in Silicon Valley in the United States, and the company has been layout at the same time in China and the United States.In the view of Zhang Xiaorong, the United States has one of the most mature and deeper capital markets in the world, especially in the field of technology and innovative enterprises, the US stock market’s valuation of high -growth potential companies is usually high, and the part of Xiaoma Zhixing’s partShareholders are investors in the US dollar, mainly US institutions, and listing in the United States is conducive to cash.
Xiaoma Zhixing has been favored by capital since its establishment.According to data statistics from Tianyan Check, Xiaoma Zhixing, established in 2016, has completed 9 rounds of financing. Investors include IDG Capital, Sequoia China, Silicon Valley Future Capital, Raumier Limited, Evodia Investment and many other investment companies and companies from home and abroad.The cumulative investment amount exceeds $ 1 billion.The latest round of financing is a $ 100 million investment of the Saudi Arabian Kingdom New Future City (Neom) and its investment fund NIF (Neom Investment Fund) last October.
However, compared with the past few years, the financing actions of the autonomous driving industry have decreased significantly in the past two years, and listing has become a common choice for enterprises to obtain funds.
Commercialization is a long -term process
At present, Xiaoma Zhixing has three major core businesses: autonomous driving services, autonomous trucks, and intelligent driving business of passenger cars. It is developing business data in the domestic and foreign markets. As of now, performance data has not been announced.
However, referring to the disclosed peer data, because the autonomous driving has not yet achieved large -scale commercialization, losses are a common phenomenon in the industry.Ruqi Traveling from 2021 to 2023 lost 685 million yuan, 627 million yuan, and 693 million yuan respectively; Zhixing Technology in the first half of the year in 2020, 2021, 2022, and 2023, the losses were 53.827 million yuan, 464 million yuan, and 464 million yuan.342 million yuan, 99.748 million yuan.
In Zhang Xiaorong’s view, losses are also a reason why these autonomous driving companies choose to go public.”Although autonomous driving companies generally face profit -making challenges, they can obtain financial support to promote technological development and commercialization through listing. Autonomous driving is extremely burned. This is a capital -intensive industry., Listing can open up the necessary financing channels. “
However, listing can increase the popularity of enterprises and attract investment, which also brings more regulatory requirements and market pressure. The performance of the capital market is inseparable from the performance support of the enterprise itself.It takes a few years.
“Enterprises need to be continuously optimized in terms of technological innovation, cost control and business model to achieve sustainable development.” Zhang Xiaorong pointed out that the commercialization of autonomous driving technology is a long -term process, which requires patience and continuous investment. Enterprises should focus on technological innovation in technological innovationCultivate market cultivation, gradually realize commercialization, and establish healthy cash flow and self -hematopoietic ability at the same time.
It can be seen from the official disclosed business progress that Pony Zhixing has obtained the qualifications of unmanned commercialization pilots and autonomous driving manned demonstrations in many cities in China: In November 2022, Beijing Intelligent Connected Automobile Policy Pioneer ZoneThe second stage of testing permit for self -driving unmanned driving is issued, and Xiaoma Zhixing became the first enterprise with unmanned test qualification to start the “front row, there is someone in the back row” in Beijing; in December last year, the Nansha, GuangzhouThe district carried out the pilot of the mixed commercialization of intelligent connected cars (autonomous driving) unmanned commercialization, and Xiaoma Zhixing became the only company to be selected as the pilot; in February this year, Pony Zhixing announced the opening of the autonomous driving download between Beijing Daxing International Airport and Beijing Yizhuang.People demonstrations have become the first batch of enterprises that have been approved in Beijing to launch passenger vehicles (Robotaxi) high -speed road demonstration applications …
