公司已与基石投资者中国移动国际控股有限公司（中移国际）订立一份基石投资协议，在若干条件的规限下，基石投资者已同意按发售价认购最高总额约1.49亿港元可购买的有关发售股份数目。Saimu Technology (02571) offered shares from December 31, 2024 to January 10, 2025. The company plans to sell 33.3334 million H shares globally, of which Hong Kong sales account for 10% and international sales account for 90%. The sale price per share is HK$12-18, with 200 shares per lot. It is expected that H shares will start trading on the Stock Exchange at 9:00 a.m. on January 15, 2025 (Wednesday).
The company is a Chinese technology company focusing on intelligent connected vehicle (ICV) simulation testing technology. It is mainly engaged in the design and development of ICV simulation test products and provides related testing, verification and evaluation solutions. ICV means equipped with advanced on-board sensors, controllers, brakes and other devices, integrating advanced communication and network technology. According to Frost & Sullivan, in terms of revenue in 2023, the company is the largest market participant in China's ICV testing, verification and evaluation solutions industry, with a market share of about 5.3%. In terms of revenue in 2023, the company is the largest market participant in the Chinese ICV simulation testing software and platform market, with a market share of about 5.9%. The company is also one of several market players in China that can provide one-stop ICV testing, verification and evaluation solutions.
During the track record period, the company's revenue was approximately RMB 0.107 billion, RMB 0.145 billion, RMB 0.176 billion and RMB 55.6 million, respectively, while the company's net profit/loss) was approximately RMB 37.6 million, RMB 48.7 million, RMB 53.4 million and RMB (4.6 million) million, respectively.
The company has entered into a Cornerstone Investment Agreement with Cornerstone Investor China Mobile International Holdings Limited (China Mobile International). Subject to certain conditions, Cornerstone Investors have agreed to subscribe for a maximum total of approximately HK$0.149 billion of relevant shares to be purchased at the offering price.
Assuming that the over-allotment rights are not exercised and that the shares are sold at HK$15.0 per share at the offer price, the company estimates that the net proceeds from the global offering will be approximately HK$0.428 billion. Of this, about 62.2% will be used for continuous investment in R&D over the next three years to enhance the company's technical capabilities and enhance the competitiveness of key technologies; about 27.8% will be used for geographical expansion and marketing of the company's products and services; and about 10.0% will be used for the company's general corporate purposes and to supplement the company's working capital.
