We have learned from various independent sources that Wei Jianjun, chairman of Great Wall Motor, has recently temporarily suspended the Hong Kong stock IPO of the least intelligent Hong Kong stock. The predecessor of the Great Wall Intelligent Driving Forward-looking Division was the Great Wall Intelligent Driving Forward-Looking Division, which is mainly responsible for ADAS intelligent driving system research and development. In 2019, Mimo Zhi Xing was incubated from the Great Wall and sprinted to IPO twice. In 2020, Mimo Zhixing proposed an IPO on the Science and Technology Innovation Board, and was originally scheduled to be successfully listed in 2024. However, the Science and Technology Innovation Board took a long time, and the inspection of IPO companies was strict, and the requirements were further tightened in December 2020. For companies with a market capitalization of less than 1 billion yuan, the Science and Technology Innovation Board requires “at least a continuous annual profit of more than 50 million yuan”. At the same time, enterprises are required to provide more than 50 invention patents, and the “technological content” requirements for enterprises are gradually increasing. Companies such as Geely Auto, Weimar Auto, Skyrim Auto, and Nacha Auto, which submitted applications in 2020, all abandoned listing on the Science and Technology Innovation Board in the future.

We have learned from various independent sources that Wei Jianjun, chairman of Great Wall Motor, has recently temporarily suspended the Hong Kong stock IPO of the least intelligent Hong Kong stock. The predecessor of the Great Wall Intelligent Driving Forward-looking Division was the Great Wall Intelligent Driving Forward-Looking Division, which is mainly responsible for ADAS intelligent driving system research and development. In 2019, Mimo Zhi Xing was incubated from the Great Wall and sprinted to IPO twice. In 2020, Mimo Zhixing proposed an IPO on the Science and Technology Innovation Board, and was originally scheduled to be successfully listed in 2024. However, the Science and Technology Innovation Board took a long time, and the inspection of IPO companies was strict, and the requirements were further tightened in December 2020. For companies with a market capitalization of less than 1 billion yuan, the Science and Technology Innovation Board requires “at least a continuous annual profit of more than 50 million yuan”. At the same time, enterprises are required to provide more than 50 invention patents, and the “technological content” requirements for enterprises are gradually increasing. Companies such as Geely Auto, Weimar Auto, Skyrim Auto, and Nacha Auto, which submitted applications in 2020, all abandoned listing on the Science and Technology Innovation Board in the future.