HK Stock Market Move | Tutong (02665) continues to increase on its first day of listing, with an increase of more than 70% during the trading day, and the total market value has exceeded HK$22 billion.

Tutong (02665) borrowed the shell from TechStar today and listed on the market, with its stock price rising over 70% at one point during the trading session. As of the time of writing, it has risen by 64.3%, reaching 16.43 Hong Kong dollars, with a trading volume of 573.213 million Hong Kong dollars, and a total market value exceeding 22 billion Hong Kong dollars. According to public information, Tutong is one of the enterprises that design, develop, and produce automotive-grade LiDAR solutions. According to data from Zhoushi Consulting, the company is the world's first supplier to achieve mass production of automotive-grade high-performance LiDAR solutions. According to the same source, by 2024, the company is expected to deliver a total of approximately 230,000 automotive-grade LiDAR units, ranking fourth in the world in terms of sales revenue from ADAS LiDAR solutions with a market share of 12.8%. The prospectus shows that while Tutong is consolidating its deep cooperation with NIO, it has also added three Chinese state-owned automotive manufacturers, a leading joint venture car manufacturer, and other major automakers as designated points. These new designated points are expected to contribute to sales revenue starting from the end of 2025. In addition, Tutong's products have expanded from the passenger car sector to a broader range including commercial vehicles, Siasun Robot & Automation, and other fields. Tutong has already received mass production orders from industry-leading companies such as DeepWay, Shaanxi Auto, Wincertech, and Jiushi Intelligent.