MINIEYE plans to start trading on Hong Kong Stock Exchange on Dec. 27

Beijing (Gasgoo)- Chinese provider of intelligent driving and smart cockpit solutions Minieye Technology Co., Ltd. (MINIEYE) commenced its IPO subscription on December 17, which will be closed on December 20. The company plans to list on the Hong Kong Stock Exchange's main board under the ticker "2431.HK" on December 27.  

Photo credit: MINIEYE

The company aims to issue 39.19 million shares (subject to overallotment), with a price range of HKD 17.00 to HKD 20.20 per share and a minimum board lot of 200 shares.  

Founded in 2014, MINIEYE specializes in intelligent driving and smart cockpit solutions, focusing on mass production of L0-L2+ autonomous driving technologies while actively developing more advanced systems.

By June 30, 2023, it had collaborated with 29 automakers on 94 vehicle models, including seven of China's top 10 OEMs. As of December 10, it had supported mass production for 35 automakers. The company's L4 autonomous driving solution, iRobo, is under development and is scheduled for delivery in the first quarter of 2025.  

MINIEYE is also expanding globally, having supported 21 export vehicle models for four automakers by the first half of 2024, targeting regions such as the EU, Australia, the UK, and Southeast Asia.  

Financially, MINIEYE's revenue has shown rapid growth. The company's annual revenue rose from 175 million yuan in 2021 to 476 million yuan in 2023, achieving a compound annual growth rate of 64.9%. In the first half of 2024, MINIEYE's revenue leapt by 44.5% year over year to 237 million yuan.