Chinese language EV startup Hozon recordsdata kinds to drift on HK stock market

China’s Hozon Auto on Wednesday lodged its prospectus with the Hong Kong securities regulators, hoping to turn into a publicly traded electrical vehicle maker within the nation following similar listings from mainland counterparts NIO, Xpeng Motors, Li Auto, and Leapmotor. The 10-year-damaged-down EV startup delivered 300,000 cars to customers as of closing September, with 5 models on sale, including the smaller and more payment range crossovers Neta Aya and X, and more top class sports sedans Neta S and GT. Even despite the incontrovertible fact that Hozon delivered 124,189 automobiles closing year, roughly 27,000 units fewer than a year earlier, earnings rather increased 4% year-on-year to nearly RMB 13.6 billion ($1.87 billion) in 2023, thanks to the firm promoting more top class merchandise at larger prices. Nonetheless, the Shanghai-headquartered firm posted a RMB 4.84 billion loss for 2023 after losing RMB 6.7 billion a year earlier, ensuing in a harmful tainted margin of 14.9% as of closing year, in step with the prospectus filed with the Hong Kong Exchanges and Clearing. The firm is attempting to take $1 billion from the checklist, Reuters reported closing September. [Hozon prospectus, in Chinese]