Ideal Car officially landed on the Hong Kong Stock Exchange: With a market value of HK$240 billion, it will focus on autonomous driving and pure electric vehicles
In just 45 days, Xiaopeng Motors and Ideal Motors have completed dual listings in Hong Kong.
This article knows the original for IPO
Author｜Stone Jin
WeChat public account｜ipozaozhidao
According to the news of the IPO, Ideal Auto was officially listed on the Hong Kong Stock Exchange under the stock code of “2150” on August 21, 2021.
This is also the second “new car maker” dual-listed in Hong Kong within 45 days after Xiaopeng Motors on July 7. Different from Secondary Listing, Dual Primary Listing is subject to stricter supervision, higher cost of listing, and cross-market circulation of stocks. Of course, dual-listed companies can be included in the Southbound Stock Connect list. Introduce A-share investors to improve stock liquidity.
Ideal Auto issued a total of 100 million shares this time. Among them, the Hong Kong public offering was oversubscribed by about 5.5 times, and the final number of shares was 10 million; the international offering was oversubscribed by about 7.9 times, and the final number of shares was 90 million.
Calculated at the issue price of HK$118 per share, the net proceeds from the dual listing of Ideal Motors in Hong Kong this time are approximately HK$11,551.9 million.
As of 9:45, Ideal Auto was quoted at HK$118 per share, the same as the issue price, and its market value was approximately HK$242.1 billion.
Ideal Motors said: “The listing and global offering on the Hong Kong Stock Exchange strategically broadened our capital channels, expanded our investor base, and further strengthened our ability to expand scale, increase innovation, and enter new markets. Ability. Withelectric carWe are very happy to lead this unprecedented opportunity with industry-leading technological innovation and product strength. We are happy about today’s listing and will focus on our strategy to achieve sustainable growth and insist on using technology to create value for users. “
Starting from 2023, at least two pure electric models will be developed every year. It is believed that L4 autonomous driving will become the main operating mode.
As a rare domestic choice of extended-range electric vehicles as the entry point of the “new force in car building”, Ideal Cars started mass production of Ideal ONE in November 2019, and launched the 2021 Ideal ONE on May 25, 2021. As of June 30, 2021, Ideal Motors has delivered more than 63,000 Ideal ONEs.
According to the report of Zhuzhi Consulting, according to sales statistics, Ideal ONE was rated as China’s best-selling new energy SUV model in 2020, occupying 9.7% of the market share.
From the point of view of Ideal Auto, with the continuous development of automotive technology, it can create more attractive products for users to meet their needs, so its products will continue to introduce new ones.
First of all, Ideal Motors is developing the X platform, which inherits Ideal ONE’s existing extended-range electric vehicle platform and is equipped with the next-generation extended-range electric power system. It plans to launch the first product on the X platform in 2022-all A luxurious range-extended electric SUV in size, and two other SUVs will be launched on the X platform in 2023.
Secondly, Ideal Auto is investing heavily in high-voltage pure electric vehicle technology. Under the high-power charging network planned for an ideal car, charging will be faster, cheaper and more accessible. Ideal Auto is developing two platforms for future high-voltage pure electric vehicles-Whale and Shark. Beginning in 2023, Ideal Auto plans to launch at least two new models of high-voltage pure electric vehicles every year.
In addition, Ideal Auto believes that L4 autonomous driving will become the main operating mode of all cars in the foreseeable future, so it is investing heavily in our self-developed autonomous driving technology. Starting from 2022, all new models of Ideal Auto will be equipped with necessary hardware compatible with self-developed future L4 autonomous driving as standard, and Ideal Auto will continue to optimize autonomous driving solutions using self-developed full-stack software development capabilities.
As a super product manager, Li Xiang has been using technology to create value for users since he founded the ideal car. For example, he has developed a unique four-screen interactive system, a full-vehicle voice interactive system and autonomous driving technology. In addition, the ideal car also uses FOTA upgrades to continuously introduce additional features and improve car performance throughout the car’s entire life cycle.
At present, Ideal Motors has established its own production base in Changzhou City, Jiangsu Province, China, in order to ensure seamless cooperation between engineering and manufacturing teams and simplify the feedback loop for rapid product optimization and quality improvement.
According to the report of CIC Consulting, as of March 31, 2021, Ideal ONE is the only insurance company in China’s Insurance Auto Safety Index (C-IASI), China Auto Health Index (C-AHI) and China New Car Evaluation Regulations (C-NCAP) All mid-to-large SUVs with the highest ratings.
Mingshi, Jingwei, Lanchi, etc. look forward to continuing to promote for investorsnew energy vehiclesContinuous development
Since its establishment, Ideal Auto has received investment from well-known VCs such as Mingshi Capital, Matrix Partners China, and Lanchi Ventures, and Internet giants such as Meituan and ByteDance.
Among them, Mingshi Capital became the first institutional investor of Ideal Auto in 2015, and 7 consecutive rounds of additional investment.
In Huang Mingming’s view, Li Xiang is a rare super-entrepreneur of product manager, with distinctive courage and unremitting pursuit of creating value for end users. “Whether it is an extended program or a pure electric solution that will be launched in the future, the starting point of an ideal car is user experience; how to use technology to solve the actual problems of electric car users and always focus on improving user experience. This is an excellent company. The biggest difference from ordinary enterprises. We also believe that ideal electric vehicle technology can help speed upElectric carPopularize in China, and make positive contributions to China’s construction of a low-carbon emission society. “
Jingwei China is a staunch supporter in the development of the ideal car. As early as 2017, Jingwei China led the investment in the B round of Ideal Auto, and then continued to increase the number of B+ rounds and C rounds. It is the largest VC investor in Ideal Auto.
Zhang Ying, founding managing partner of Jingwei China, said: “Congratulations to Ideal Auto and Li Xianghe team. Thank you for letting Jingwei participate in Ideal Auto’s business at the most suitable time. I am very happy and lucky to grow with the company. “Wang Huadong, partner of Jingwei China, said: “I hope that this Hong Kong stock listing and financing will help the company achieve its strategic goal of 2025 as soon as possible-to obtain a 20% market share of China’s new energy vehicles and 1.6 million vehicle sales to continue to promote new energy. The continuous development of the car.”
Blue Run Ventures is also an accompaniment of ideal cars all the way, with 5 consecutive rounds of investment since the A2 round.
Zhu Tianyu, managing partner of Blue Run Ventures, said that as a new monthly sales champion of domestic new power brands, Ideal Auto has gained first-mover advantage in the leap-forward development of China’s new energy smart car industry and is expected to compete with global competitors. Governance, and then became a global leader from China. The listing of Hong Kong stocks will enable Ideal to obtain double liquidity in the global capital market, to implement the “2025 Strategy” for Ideal and to obtain more capital chips from the autopilot ticket.
“Similar to mobile phones, automobiles will be the core ecology leading the next technological cycle, and will grow stronger and stronger. With the support of new energy and hard technology national policies, ideal automobiles will have the opportunity to leverage the dual commanding heights of the energy industry and the information industry to build technological innovation. The ecosystem has opened up the upstream and downstream industrial chains of smart cars including chips and operating systems, and has continued to make breakthroughs in the field of new energy, becoming the world‘s top technology company that redefines travel.” Zhu Tianyu said.
This article was originally written by the public account IPO (ID: ipozaozhidao)