Weimar hits Hong Kong stock IPO, Shen Hui and his wife hold 30.82% of the shares

On June 1, the list of a new batch of IPO applications disclosed by the Hong Kong Stock Exchange showed that WM Motor has officially submitted an IPO application for Hong Kong stocks, with Haitong International, CMB International and Bank of China International as their sponsors.

According to the prospectus, as of December 31, 2021, WM Motor has delivered a totalof about 83,500electric vehicles.Among them, a total of 44,200 electric vehicles will be delivered in 2021, achieving a year-on-year growth of 96.3%.

Financial data shows that WM Motor's total revenue in 2020 is about 3.446 billion yuan, a year-on-year increase of 51.6%; in 2021, the total revenue is about 6.364 billion yuan, a year-on-year increase of 77.5%.In 2021, the gross profit margin of WM Motor will be -5.1%.

As of the time of the prospectus, Shen Hui and Wang Lei held a total of 30.82%, Agile Group held 6.46%, and Baidu held 5.96%.

The official also revealed that WM Motor's flagship sedan, the M7, will be launched in the second half of 2022.At the same time, WM Motor will launch new SUV, sedan and MPV models based on the Caesar platform in 2023.