IPO Plus - IPO

Name▼ / Code▼	Industry	Offer Price	Lot Size	Entry Fee	Closing Date	Grey Market Date▼	Listing Date▲
REFIRE 02570.HK	Electrical Components & Equipment	145-165	20	3,333	2024/12/03	2024/12/05	2024/12/06
Dmall 02586.HK	Application Software	30.21	100	N/A	2024/12/03	2024/12/05	2024/12/06
Mao Geping 01318.HK	Beauty & Toiletries Products and Services	26.3-29.8	100	3,010	2024/12/05	2024/12/09	2024/12/10

Name▼

Code▼

Industry

Offer Price

Lot Size

Entry Fee

Closing Date

Grey Market Date▼

Listing Date▲

REFIRE
02570.HK

Electrical Components & Equipment

145-165

3,333

2024/12/03

2024/12/05

2024/12/06

Dmall
02586.HK

Application Software

30.21

100

N/A

2024/12/03

2024/12/05

2024/12/06

Mao Geping
01318.HK

Beauty & Toiletries Products and Services

26.3-29.8

100

3,010

2024/12/05

2024/12/09

2024/12/10

Summary

We are an automotive-grade computing SoC and SoC-based intelligent vehicle solution provider. SoC is an integrated circuit that integrates key electronic components including central processing units, memories, I/O interfaces and others. Automotive-grade computing SoCs empower intelligent vehicles with mission-critical capabilities. SoC-based intelligent vehicle solutions integrate SoCs embedded with our in-house developed IP cores of ISP and NPU, algorithms and support software of middleware and toolchain to meet broad customer needs. We have designed two series of automotive-grade SoCs, the Huashan Series highcomputing power SoCs and the Wudang Series cross-domain SoCs. We started with and commercialized the Huashan Series high-computing power SoCs focusing on autonomous driving applications and recently introduced the Wudang Series cross-domain SoCs to expand from the core autonomous driving functions to cover more diverse and sophisticated demands for advanced functionalities of intelligent vehicles such as smart cockpit and automotive gateway, all achieved on a single SoC. Operating in the midstream of autonomous driving value chain as a Tier 2 supplier, we provide autonomous driving products and solutions in the form of bundled SoC-based solutions and algorithm-based solutions. In terms of shipment of automotive-grade high-computing power SoCs in 2023, we are the third largest provider globally, according to Frost & Sullivan. Autonomous driving systems are a complex integral part of vehicles, so, automotive OEMs tend to adopt and stick with a few technology platforms for vehicle models at the same automation level. This improves efficiency and avoids high switching costs, resulting in automotive OEMs and Tier 1 suppliers forming long-term anchored partnerships with selected Tier 2 suppliers of autonomous driving SoC. Currently, most passenger vehicles are at automation levels up to L2+, both in China and globally. This is expected to remain so for the next few years due to technological, regulatory, safety, cost and social challenges, according to Frost & Sullivan. We strategically prioritize L2 to L3 products at this stage, recognizing that product-market fit is crucial for commercial success. Based on our outstanding products and customer recognition: ‧ We had design wins for 23 vehicle models with 16 automotive OEMs and Tier 1 suppliers, as of the Latest Practicable Date. ‧ We started mass-production of Huashan A1000/A1000L SoCs in 2022. We shipped a total of over 156,000 units of our SoC products as of March 31, 2024. ‧ We announced our Wudang Series cross-domain SoCs in April 2023, the first in the industry to integrate autonomous driving, smart cockpit, body control and other computational domains, according to Frost & Sullivan. ‧ Our customer base grew from 45 in 2021 to 85 in 2023. We had 21 customers in the three months ended March 31, 2024. We had partnered with over 49 automotive OEMs and Tier 1 suppliers such as FAW Group, Dongfeng, JAC, HYCAN, ECARX, Baidu, Bosch, ZF Group and Marelli as of the Latest Practicable Date. Source: Black Sesame (02533) Prospectus (IPO Date : 2024/07/31)
Listing Market	MAIN
Industry	Application Software
Background	Others
Major Business Area	N/A

Corporate Information

Substantial Shareholders	Shan Jizhang & Associates (21.68%) Northern Light Partners IV L.P. (9.79%) SummitView Capital (M&A) (6.54%)
Directors	LIU Weihong (Founder and President and Executive Director) SHAN Jizhang (Founder and Chairman and Chief Executive Officer and Executive Director) ZENG Daibing (Chief System Officer and Executive Director) YANG Lei (Non-Executive Director) LI Qingyuan (Independent Non-Executive Director) LONG Wenmao (Independent Non-Executive Director) XU Ming (Independent Non-Executive Director)
Company Secretary	KWOK Siu Ying Sarah SUN Xiaoxiang
Principal Bankers	DBS Bank Limited China Merchants Bank
Solicitors	Zhong Lun Law Firm Clifford Chance K&L Gates Maples and Calder (Hong Kong) LLP
Auditors	PricewaterhouseCoopers
Registered Office	Room 1901, 19th Floor, Lee Garden One, 33 Hysan Avenue, Causeway Bay, Hong Kong
Share Registrars	Tricor Investor Services Ltd. [Tel: (852) 2980-1333]
Share Registrars Tel No	(852) 2980-1333
Internet Address	http://www.blacksesame.com.cn
Email Address	[email protected]
Tel No	(86 27) 8643-4706
Fax No

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