Hezhong New Energy, the parent company of Nezha Automobile, submitted a listing application to the Hong Kong Stock Exchange today.

According to news from this site on June 26, Hezhong New Energy, the parent company of Nezha Automobile, submitted an IPO application to the Hong Kong Stock Exchange today. The prospectus shows that Nezha Automobile’s revenue in 2023 will be 13.555 billion yuan, with a net loss of 6.867 billion yuan. The prospectus shows that Nezha Automobile currently launches five smart new energy vehicles, and its vehicle delivery volume will increase from 64,230 vehicles in 2021 to 124,189 vehicles in 2023, with a compound annual growth rate of 39.0%. In terms of overseas business, Nezha Automobile will export 17,019 vehicles in 2023, accounting for 13.7% of total sales and contributing 12.0% of sales revenue in the same year. Nezha Automobile said that it has now extended to the mid-to-high-end market with higher profit margins and deepened its experience in China to overseas markets.

This site noticed that Nezha Automobile and CATL signed a ten-year comprehensive strategic cooperation agreement on May 24, and will carry out comprehensive strategic cooperation from 2025 to 2034. Nezha Automobile has established CATL as the preferred cooperation for automotive power batteries. As a partner, CATL provides Nezha Automobile with market-competitive power battery products and service guarantees.

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