Credit ranking: TechNode/Eugene Tang
China’s Hozon Auto on Wednesday lodged its prospectus with the Hong Kong securities regulators, hoping to alter into a publicly traded electric automobile maker within the nation following same listings from mainland counterparts NIO, Xpeng Motors, Li Auto, and Leapmotor. The ten-year-used EV startup delivered 300,000 vehicles to prospects as of ultimate September, with five fashions on sale, including the smaller and further finances crossovers Neta Aya and X, and further top rate sports activities sedans Neta S and GT. Though Hozon delivered 124,189 vehicles final year, roughly 27,000 fashions fewer than a year earlier, income a slight elevated 4% year-on-year to almost RMB 13.6 billion ($1.87 billion) in 2023, attributable to the firm promoting extra top rate merchandise at better costs. Nonetheless, the Shanghai-headquartered firm posted a RMB 4.84 billion loss for 2023 after dropping RMB 6.7 billion a year earlier, ensuing in a negative sinful margin of 14.9% as of ultimate year, based utterly on the prospectus filed with the Hong Kong Exchanges and Clearing. The firm is taking a stumble on to know $1 billion from the list, Reuters reported final September.[[Hozon prospectus, in Chinese language]
