On January 5, 2024, RoboSense Technology Co., Ltd (hereinafter as "RoboSense" or "the Company"), a world-leading provider of LiDAR and Perception Systems, was successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited (SEHK). The stock code is 2498.HK. The basic issuance size of this listing was approximately HK$990 million, and if the over-allotment option is fully implemented, the issuance size would be approximately HK$1.13 billion. China Renaissance served as the joint sponsor, overall coordinator, joint global coordinator, joint bookrunner and joint lead manager in this transaction.

RoboSense has entered the Hong Kong capital market as a rare case in the autonomous vehicle industry chain. A total of 22,909,800 shares were issued in this transaction (excluding over-allotment options), with an issue price of HK$43 per share. Shenzhen Nanshan Strategic Emerging Industries Investment Co., Ltd. was the cornerstone investor of this transaction. The funds raised from the listing will be mainly used for research and development to continue building and enhancing product pipeline and team expansion; enhancing manufacturing, testing and verification capabilities; enhancing sales and marketing efforts; exploring potential strategic partnerships or alliance opportunities; and for working capital and general corporate purposes to support business operation and growth.

RoboSense was founded in 2014. Through the integration of hardware and software, the company differentiated itself from most pure LiDAR hardware manufacturers on the market. LiDAR provides vehicles and robots perception capabilities through perception solutions that fuse vision or other sensors. Based on chip-driven LiDAR hardware, the company also deployed artificial intelligence perception software technology to form solutions, promote exploration of application scenarios in the market, and lead the industry to materialize large-scale commercialization. 

RoboSense has a large and diverse customer base and is in an industry leading position. RoboSense is a global leader in multiple indicators, including the number of customers for vehicle models, the number of vehicle models and SOP. As of December 18, 2023, the Company has earned design wins for mass production of LiDAR products for 62 vehicle models with 21 automotive OEMs and Tier 1 suppliers, and it had also achieved SOP for 24 vehicle models for 12 of the 21 aforementioned automotive OEMs and Tier 1 suppliers. The Company’s LiDAR products had been selected by the world’s best-selling automotive OEM from 2020 to 2022 in terms of sales volume and nine of China’s top ten largest automotive OEMs, which include China’s largest automotive OEM and the world’s largest NEV OEM (both in terms of sales volume) in 2022. In terms of automotive-grade solid-state LiDAR, as of the end of June 2023, RoboSense had served approximately 2,200 customers in the robotics and other non-automotive industries. In 2022, it ranked No. 1 globally in terms of sales volume for customers in the robotics industries (excluding low-end LiDARs with fewer than 16 channels).

In the first ten months of 2023, the Company’s sales volume of LiDAR products and ADAS applications were approximately 136,000 units and approximately 121,700 units, respectively, significantly increasing from approximately 40,700 units and 24,400 units in the same period in 2022. In October 2023 alone, the Company’s sales volume of LiDAR products for ADAS applications was over 28,000 units.

China Renaissance and RoboSense have developed a strong cooperative relationship. As a long-term capital market partner, China Renaissance served as the exclusive financial advisor in the Company's Series F financing in 2021 and Series G financing in 2022. During this listing process, based on a deep understanding of the Company's business model and insights into NEVs and intelligent manufacturing, China Renaissance assisted the Company in systematically sorting out its business model, refining capital market highlights, and fully utilizing the Company's advantages. Based on China Renaissance’s long experience and in-depth coverage of world-renowned investment institutions, it became a bridge for communication and value transfer between the Company and high-quality investors, and ensured the Company had a smooth listing. China Renaissance's private equity fund Huaxing Growth Capital also served as one of the Company's shareholders to accompany the company's growth.

China Renaissance’s investment banking team has been deeply involved in the area of new economy for many years and has played important roles in many large-scale capital market transactions. It has witnessed major milestones of many outstanding innovative new economy companies, including the participation in the HK IPOs or additional share issuance projects of Kuaishou, Meituan, Baidu, JD.com, JD Health, JD Logistics, RoboSense, Huitongda, AInnovation Tech, LINKLOGIS, Pop Mart, ZTO Express, Maoyan, as well as US IPOS or additional issuance projects for ZKH Group, Shell, PDD Holdings, Kanzhun Limited, Full Truck Alliance, Lufax, Chindata Group Holdings, iQiyi, and Tencent Music.

China Renaissance’s investment banking team has played important roles in large-scale capital market transactions many times and has witnessed major milestones of many outstanding innovative new economy companies. China Renaissance remains deeply committed to building a deep network covering well-known investment institutions around the world and leveraging on its in-depth industry insights and professional execution capabilities to become the most trustworthy communication bridge between the public market and innovative new economy companies. In future, China Renaissance will continue to focus on high-quality companies in various segments in the field of innovative new economy and assist partners with entering the global capital market.