Wenyuanzhixing is seeking its first initial public offering (IPO) in the United States and is expected to raise a net amount of approximately 96 million US dollars. Wenyuanzhixing may launch its IPO as early as this week. In terms of product structure, 100-300 billion yuan's operating income for products were 401/1288/60 million yuan respectively.
According to Bloomberg, Wenyuanzhixing is seeking its first initial public offering (IPO) in the United States and is expected to issue 6.45 million American Depositary Shares (ADS) with a net amount of approximately 96 million US dollars at a share price between 15.50-18.50 US dollars. Wenyuanzhixing may launch its IPO as early as this week.
In recent years, China has enacted multiple policies to support the development of the intelligent networked car industry and vehicle networking has become one of the global strategies. According to the Ministry of Industry and Information Technology (MIIT), China will adhere to a collaborative development strategy between cars and roads, leverage new nationwide policies, take powerful measures, and promote the development of intelligent networked cars to advance the application of high-quality vehicle networking. As of the end of June 2024, MIIT data showed that there were a total of 17 national-level intelligent networked car testing zones, 7 vehicle networking pilot zones, 16 “smart” pilot cities, and over 32,000 kilometers of open test roads, issuing over 7,700 test licenses, with over 1.2 billion kilometers of tested mileage, and deploying more than 8,700 road side units (RSUs) in various areas. Moreover, several locations are progressing with their cloud-based control platform construction. According to the projected data by China Industrial Information Network and Zhongshi Consulting, the intelligent driving market space is expected to reach 400 billion by 2025. Cui Yan, an analyst at Minsheng Securities, pointed out that the commercialization of Robotaxis is opening up and the smart driving crossover has arrived. Overseas Tesla is leading the industrialization process, and the domestic policy end, supply end, and demand end are welcoming a triple turning point toward development.
According to the Financial Data Center, among related listed companies:
Jiangling Motors Corporation, expressed on their investor communication platform that the self-driving light commercial vehicle VAN developed in cooperation with Wenyuanzhixing is in the commercial operation trial stage.
In the interactive platform, Yutong Bus Co., Ltd. stated that the company has been continuously cooperating with Wenyuan Zhixing in the field of intelligent network connection and automatic driving. The mass-produced L3 and L4 self-driving buses have been put into operation in multiple cities, such as Zhengzhou, Guangzhou, and Nanjing.