Zhitong Financial APP learned that Weima Holdings Limited submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Haitong International, China Bank International and Bank of China International as its co-sponsors.

Weimar Holdings has recorded rapid growth in electric vehicle sales with its leading technical capabilities. In particular, electric vehicle sales in 2021 were 44152, more than double that of 2020. Therefore, according to Zuoshi Consulting, the company ranks first among all pure electric vehicle manufacturers in China's mainstream market in 2021 in electric SUV sales, and ranks third among all local automakers in China's mainstream market in electric vehicle sales and smart electric vehicle sales in 2021.

The mainstream market refers to the electric vehicle market segment with a manufacturer's suggested retail price of 150000 yuan to 300000 yuan, which is the largest and fastest-growing market segment in China's electric vehicle industry. Sales in China's mainstream electric vehicle market are expected to grow from 900000 in 2021 (accounting for 32.4% of China's total electric vehicle sales in 2021) to 3 million in 2026 (accounting for 35.9% of China's total electric vehicle sales in 2026), with a compound annual growth rate of 27.7% from 2021 to 2026. With the company's market leading position, the company believes that it will be able to seize the growth opportunities of China's mainstream electric vehicle market.

The company adheres to the business philosophy to provide a comprehensive portfolio of intelligent electric vehicles equipped with innovative technologies. In view of the fact that the company's target group is young tech-savvy users in China, especially families, the company's vehicle design pays special attention to the comfort and safety of rear seats and intelligent user experience. After the launch of the M7 in the second half of 2022, the company is expected to have a total of five models (including various versions of each model). This makes the company the company with the largest number of electric vehicle models among all pure electric car manufacturers in China between 2018 and 2022.

In building the company's product portfolio, the company first developed the SUV, a popular family model, including the EX5, EX6 and W6, as well as E5 and M7 cars. W6 is the first and only mass-produced electric vehicle in the company's product portfolio to achieve L4 self-driving function through the AVP function of automatic valet parking in designated parking spaces at home or work, according to the company's product portfolio. It is also the first mass-produced model in China's electric vehicle industry that enables users to customize scenarios (that is, save settings for a range of vehicle functions) and accelerate software development through a service-oriented architecture. The company's M7 is expected to carry the company's independently developed L4-level AVP in 2023, and its hardware has been configured to support future L5-level self-driving functions. According to Zuoshi Consulting, the company's EX5 is an affordable smart electric vehicle in terms of cumulative sales as of December 31, 2021, and is still the No. 1 electric SUV in the mainstream market in China. E5 the upgraded E5 Pro with intelligent capabilities uses the user's directly connected manufacturing platform to provide users with a variety of customized solutions. The company's EX6 has excellent back row passability and is equipped with CleanPro technology to cater to more and more three-child families in China. In addition, the company generally expects to launch a new electric vehicle model each year in the next few years.

The company's electric car sales recorded strong growth during the track record period. As of December 31, 2021, the company has sold a total of 83495 electric vehicles since its first model was launched in September 2018. During the track record period, the company's electric vehicle sales increased significantly, from 12799 in 2019 to 21937 in 2020 and 44152 in 2021.

The company's total revenue grew rapidly from 1.762 billion yuan in 2019 to 2.672 billion yuan in 2020, and a further 77.5 percent in 2020 to 4.743 billion yuan in 2021. During the track record period, the company's gross loss rate improved, from 58.3% in 2019 to 43.5% in 2020 and 41.1% in 2021.