New stock news | SaiMu technology passed the hearing of Hong Kong Stock Exchange, focusing on simulation testing technology for intelligent connected vehicles.

According to the disclosure on December 23 by the Hong Kong Stock Exchange, Beijing Saemu Technology Co., Ltd. (referred to as Saemu Technology) has undergone a hearing at the Hong Kong Stock Exchange, with Guang Yin International as the sole sponsor. The prospectus shows that Saemu Technology is a Chinese technology company focusing on simulation testing technology for Intelligent Connected Vehicles (ICV), mainly engaged in the design and research and development of ICV simulation testing products and providing related testing, validation, and evaluation solutions. ICV refers to vehicles equipped with advanced in-vehicle sensors, controllers, brakes, and other devices, integrated with advanced communication and network technologies. The company mainly provides (i) ICV simulation testing software and platform; (ii) ICV data platform and other products; (iii) ICV testing and related services; and (iv) consulting and other services. According to Frost & Sullivan data, based on revenue in 2023, Saemu Technology is the largest market participant in China's ICV testing, validation, and evaluation solutions industry, with a market share of approximately 5.3%. Furthermore, based on revenue in 2023, the company is the largest market participant in China's ICV simulation testing software and platform market, with a market share of approximately 5.9%. The company is also one of several market participants in China that can provide comprehensive ICV testing, validation, and evaluation solutions. Saemu Technology has developed technological capabilities in ICV testing, validation, and evaluation through innovation. In 2018, the company independently developed and commercially launched the ICV simulation testing, validation, and evaluation toolchain Sim Pro. In June 2021, Sim Pro obtained ASIL D functional safety certification under the international standard ISO 26262, making it the world's first ICV simulation testing, validation, and evaluation toolchain to receive the highest level of functional safety certification according to Frost & Sullivan. In 2021, the company also independently developed the FuSa and SOTIF analysis tool Safety Pro for ICV, making it one of the simulation solution providers in China that can combine independently developed safety analysis tools with simulation testing tools. Safety Pro obtained ISO 26262 TCL 2 certification in July 2023. In terms of market prospects, driven by the continuous development of intelligent driving technology and the increasing acceptance of intelligent vehicles in China, the market size of the ICV testing, validation, and evaluation solutions industry in China (based on revenue) is steadily increasing, from approximately RMB 1.2 billion in 2019 to approximately RMB 3.3 billion in 2023, with a compound annual growth rate of approximately 27.8%. Additionally, based on revenue, it is expected that the market share of ICV simulation testing software and platform in the Chinese ICV testing, validation, and evaluation solutions market will remain above 50% in 2023 and will increase to nearly 60% by 2030. Financially, in the six months ended June 30, 2021, 2022, 2023, 2023, and 2024, Saemu Technology achieved revenues of approximately RMB 107 million, RMB 145 million, RMB 176 million, RMB 21.62 million, and RMB 55.56 million respectively; during the same period, the annual/periodic net profit and total comprehensive income were RMB 37.571 million, RMB 48.686 million, RMB 53.431 million, RMB -11.065 million, and RMB -4.599 million respectively.