Changes in Hong Kong stocks | On the first day of listing, Tudatong (02665) continued to increase, rising more than 70% in the intraday period, and the total market value exceeded HK$22 billion

The Zhitong Finance App learned that Tudatong (02665) was listed today under the aegis of TechStar, and at one point it rose more than 70% during the intraday period. As of press release, it rose 64.3% to HK$16.43, with a turnover of HK$57.3213 million and a total market capitalization exceeding HK$22 billion.

According to public information, Tudatong is one of the companies that design, develop and produce automotive-grade lidar solutions. According to Insight Consulting data, the company is the world's first supplier of automotive-grade high-performance lidar solutions to achieve mass production. According to the same source, in 2024, the company delivered a total of about 230,000 automotive-grade lidars, ranking fourth in the world in terms of sales revenue from ADAS lidar solutions, with a market share of 12.8%.

According to the prospectus, while consolidating its deep cooperation with NIO, Tudatong has added a number of OEMs, including three Chinese state-owned automobile manufacturers and a leading joint venture car company. These new locations are expected to contribute sales revenue starting at the end of 2025. Furthermore, the application of Tudatong products has expanded from the passenger car field to wider racetracks such as commercial vehicles and robots. Tudatong has received mass production orders from leading companies in the industry such as Shenzhen DeepWay, Shaanxi Automobile Heavy Truck, Yingke Technology, and Jiushi Intelligence.