IPO Pricing | Uisee Technology listed today, receiving over 6,700 times subscription, priced at HK$60.3 per share, with a 5% allotment rate for one lot.

Futu News, May 20: $UISEE TECH (01511.HK)$ announced its allotment results, pricing shares at HK$60.3 each, issuing a total of 14.4612 million shares, with each board lot comprising 50 shares, and officially listing today.

During the public offering phase, Uisee Technology received 6,777.29 times subscription. The final number of shares allocated to the public offering amounted to 2.8923 million shares, representing approximately 20% of the total offering. Approximately 286,000 valid applications were received in total, with around 48,689 applications processed, and the percentage of applicants who applied for one lot and were allotted shares was approximately 5% of the total shares applied for.

Additionally, during the international placement phase, Yushi Technology received 5.66 times subscription coverage. The final number of shares allocated in the international offering amounted to 11.569 million shares, representing 80% of the total offering. Futu Insights has compiled the relevant data in the table below:

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 dedicated its research and development efforts to L4 autonomous driving solutions, achieving significant milestones. Its core technologies are internally developed with proven excellence (covering AI capabilities for vehicle-end and cloud-end as well as safety frameworks), U-Drive® system and solutions have undergone multiple iterations and expanded into new scenarios and fields. Its intellectual property creation and industry recognition serve as evidence of this.

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, Yushi Technology’s global offering is expected to generate net proceeds of approximately HK$795 million (based on an issue price of HK$60.3 per share). According to the prospectus, Yushi Technology intends to allocate the net proceeds from the global offering toward 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.

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Editor/Joe

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