TESLINK Intelligent Technology submitted its listing application in Hong Kong yesterday (26th), with Citic Securities and Haitong Int'l as joint sponsors.

The company provides a full stack of AIoT products to enterprises, public administrators, and other public space participants through the AIoT operating system TacOS. The company recorded losses of 2.828 billion yuan, 2.387 billion yuan, and 0.803 billion yuan in each full year from 2021 to 2023, with gross margins of 44.2%, 10.1%, and 31% respectively. In the first half of this year until the end of June, the company recorded a loss of 1.128 billion yuan with a gross margin of 24.7%.

The company's shareholders include Everbright Holdings (00165.HK), Shangtang-W (00020.HK), Shenzhen Futian Capital Operation Group, and Chongqing Science City Investment Holdings, among others. The funds raised this time will be mainly used to enhance research and development capabilities, invest in the development of large-scale models in the field, as well as for commercialization and market expansion.