IPO News | 'Autonomous Driving Solutions Provider' UISEE Technology launches IPO, scheduled for listing on May 20, minimum subscription amount HKD 3,045.4

Futu Information reported on May 12, $UISEE TECH (01511.HK)$ Announcement issued: the company will conduct an IPO from May 12 to May 15, with a plan to globally offer approximately 14,461,200 shares, expecting to list on May 20.

Company Overview

UISEE Technology is an autonomous driving solutions provider in the Greater China region specializing in unmanned L4 technology. The company currently focuses on commercial vehicles in closed environments (especially airports and industrial sites). Its solutions are universal across all scenarios and have been applied in various open and closed environments, covering logistics, operations, and mobility vehicles, spanning L2 to L4 autonomous driving levels.

Over the years, the company has been committed to the research, development, and innovation of L4 autonomous driving solutions. The R&D efforts have led to several significant achievements, demonstrating a strong track record in core technology internal development (covering AI capabilities for both vehicle-end and cloud as well as safety frameworks), multiple iterations of the U-Drive® system and its expansion into new scenarios and fields, and intellectual property creation alongside industry recognition.

Financial Summary

Revenue increased from RMB 161.4 million in 2023 to RMB 265.5 million in 2024, and further increased to RMB 328.3 million in 2025. In 2023, 2024, and 2025, the company recorded net losses of RMB 213.1 million, RMB 211.6 million, and RMB 230.2 million, respectively. In 2023, 2024, and 2025, R&D expenses amounted to RMB 184.4 million, RMB 196.4 million, and RMB 233.7 million, respectively.

Use of Proceeds

Regarding the use of proceeds, UISEE Technology expects the net proceeds from the global offering to be approximately HKD 795 million (assuming the over-allotment option is not exercised, at an offer price of HKD 60.3). According to the prospectus, UISEE Technology intends to allocate the global offering's proceeds for the following purposes:

46.7% will be used to continuously enhance the company’s R&D capabilities and solution offerings; 33.5% will be allocated for domestic and overseas business expansion and improving commercialization capabilities; approximately 9.8% will be used for strategic investments; and approximately 10% will serve as working capital and for general corporate purposes.

Further reading:Yushi Technology's Prospectus

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