Yu Jia Innovation (02431) officially listed on the HKEX main board.

On December 27, 2024, IOV New Energy (02431) successfully listed on the HKEX main board at an issue price of HK$17.00 per share. The opening price was HK$18.60, up 9.41%. At the listing ceremony, Dr. Liu Guoqing, co-founder, chairman, executive director, and general manager of IOV New Energy, struck the gong to mark the opening of the market, witnessed by the company's team representatives, shareholders and investors, partners, marking a historic moment for the company as it officially enters a new chapter in the capital market. The successful listing not only acknowledges IOV New Energy's past achievements but also signals a new starting point for the company's development, reflecting expectations for the company's future potential and representing China's intelligent driving industry as a new force on the global stage. Dr. Liu Guoqing said in his speech, "Looking ahead, we will continue to focus on technological innovation, steadily advance globalization strategy, accelerate commercialization processes, further enhance market competitiveness, strive to provide a safer and more comfortable driving experience for intelligent vehicles, create higher value for shareholders and investors, and bring more efficient and green travel methods to society. Let us ascend the peaks together, side by side." Since its establishment in 2014, IOV New Energy has always adhered to the concept of "empowering intelligent vehicles," focusing on the iteration and implementation of cutting-edge technologies in intelligent driving, while enhancing safety and driving experience. After years of cultivation, the company has established differentiated competitive advantages and mature commercialization capabilities, becoming a leading supplier of intelligent driving and smart cockpit solutions in China. Based on technology, gradual innovation IOV New Energy adheres to a gradual route of development for intelligent driving, gradually developing intelligent driving solutions with increasing levels of automation. In addition to providing customized L0 to L2+ level intelligent driving solutions, the company has been actively developing more advanced autonomous driving technologies. The L4 level autonomous driving solution iRobo is expected to be delivered in the first quarter of 2025. IOV New Energy strategically deploys intelligent driving, smart cockpit, and vehicle-road collaboration as its three main business lines, continuously expanding the boundaries of applications. The company has developed core technological advantages in full-stack self-research capabilities, compatible and portable technologies, and integrated software and hardware design capabilities. The full-stack self-research capabilities cover perception, fusion, mapping, positioning, and planning control, with the application of emerging technologies such as monocular 3D neural networks, BEV neural networks, and occupancy networks, building a complete technological moat and providing the company with strong innovation resilience and development resilience. Growing business, starting a new journey With abundant research and development experience, production experience, and brand recognition, as of June 30, 2024, IOV New Energy has begun mass production of 94 models with 29 complete vehicle manufacturers; as of December 10, 2024, IOV New Energy has accumulated mass production for 35 complete vehicle manufacturers. Amid the wave of globalization, IOV New Energy is actively promoting its global strategy while consolidating the domestic market. By the first half of 2024, the company has achieved SOP for 21 export models of four complete vehicle manufacturers, with these export models being sold in regions including the EU, Australia, the UK, Southeast Asia, and Hong Kong. According to data from Zhishi Consultancy, IOV New Energy is one of the first Chinese suppliers to assist complete vehicle manufacturers in obtaining ADDW and DDAW certifications under the EU General Safety Regulation, and it is also the first Chinese supplier to help Chinese complete vehicle manufacturers obtain a five-star E-NCAP rating for intelligent cockpit solutions. Through this listing on the Hong Kong capital market, an international platform, IOV New Energy will further enhance its influence and inject new vitality into the global intelligent driving industry's development. Standing at a new starting point, IOV New Energy will further strengthen its technological advantages, deepen its industrial layout, work hand in hand with more partners, embrace the market with a more practical and humble attitude, and climb to new heights with a firmer and more steady pace, contributing to the creation of a safer and more intelligent future mode of travel.