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Robosense Technology, a chip-driven LiDAR (light detection and ranging) equipment manufacturer, has submitted an application for Hong Kong listing, with JPMorgan and China Renaissance as its joint sponsors.
Robosense’s pre-IPO investors include Alibaba Group and its subsidiary Cainiao, which together hold 11.03% of the shares.
The company’s revenue hiked 60% year over year to about 530 million yuan in 2022, while its loss expanded by 26% to 2.09 billion yuan.
The company said 45% of the proceeds will be used for enhancing its product pipeline, expanding team for its R&D, upgrading and iterating existing LiDAR products in its solid-state LiDAR platforms; 20% each will be allocated for enhancing manufacturing, testing and verification capabilities, and for enhancing sales and marketing efforts respectively, while 5% will be used for exploring potential strategic partnerships.