New Stock Debut | Toodol Technology (02665) Listed on TechStar through Shell, Opening 10% Higher in Morning Trading, Company is a Provider of Laser Radar Solutions

Tutan (02665) backdoors TechStar for listing. The announcement shows that the company has been allowed to raise equity financing with 37.08 million shares at a price of 10 Hong Kong dollars per share, resulting in a net amount of 3.605 billion Hong Kong dollars. As of the time of writing, the stock has risen by 10%, trading at 11 Hong Kong dollars with a turnover of 1.9195 million Hong Kong dollars. Public information shows that Tutan is a provider of image-level lidar and solutions. As a leading player in the global lidar market, Tutan delivered approximately 230,000 automotive-grade lidars in 2024; based on revenue from automotive-grade lidar solutions in 2024, the company's global market share is 12.8%. In the first nine months of this year, Tutan delivered around 181,000 automotive-grade lidars, a year-on-year increase of 7.7%. In the passenger car sector, Nio has chosen Tutan's lidar solutions for its 9 models, with the Falcon series of ultra-long-range lidars having delivered over 600,000 units; in the commercial vehicle and logistics sector, Tutan has entered into stable partnerships with DeepWay, Shaanqi Heavy Duty Truck, Yingche Technology, and Xiaoma Zhihang, continuously expanding application scenarios. In terms of the Siasun Robot & Automation sector, Tutan has received large orders from leading companies such as Jiu Shi Intelligent, Zhongli Shares, Cusa Technology, and Yushi Technology, covering areas such as logistics, sanitation, and handling.