HK Stock Market Move | New stock MINIEYE (02431) rose nearly 14% in the afternoon to hit a new high on its debut. The company is a supplier of intelligent driving solutions.

MINIEYE (02431) rose in the afternoon, reaching a high of 20.2 Hong Kong dollars during trading, hitting a new record high since its IPO, up nearly 19% from the offer price of 17 Hong Kong dollars. As of the time of writing, it has increased by 6.86%, trading at 19 Hong Kong dollars, with a turnover of 10.84 million Hong Kong dollars. According to its prospectus, MINIEYE was established in 2014 and is a Chinese supplier of intelligent driving and smart cockpit solutions, providing solutions including navigation, parking, and in-cabin functions for the key aspects of the driving experience. As of December 10th of this year, MINIEYE has built mass production for 35 automotive manufacturers. Meanwhile, MINIEYE is developing and testing the L4 level autonomous driving solution iRobo, with delivery expected to be in the first quarter of 2025. It is worth noting that MINIEYE's globalization strategy continues to advance. As of June 30, 2024, MINIEYE's solutions have been chosen for 15 upcoming export vehicle models by 6 automotive manufacturers and have been implemented in 21 export vehicle models for 4 automotive manufacturers. These export vehicle models are sold in regions such as the European Union, Australia, the United Kingdom, and Southeast Asia.