JiKr Auto responds to suspend IPO: listing work is progressing in an orderly manner

According to the latest news, Jikrypton plans to postpone its IPO in the United States due to poor market conditions. Jikrypton Company stated that they have submitted a prospectus to the U.S. Securities and Exchange Commission and that all preparatory work is in progress.

On November 10 this year, Geely Auto announced on the Hong Kong Stock Exchange that Jikrypton has After filing a registration statement with the SEC, JiKrypton's American depositary shares are expected to be listed on the New York Stock Exchange under the stock symbol "ZK".

Geely Automobile stated in the announcement that it is expected that the Ji Krypton offering will be carried out when market conditions permit, and it will only be implemented after the U.S. Securities and Exchange Commission declares the relevant registration statement to be effective. As of the date of this announcement, the number and amount of American Depositary Shares to be offered and sold in the JiKr Offering have not been determined.

▲ Ji Krypton 007, official picture source

The prospectus of Ji Krypton Group shows that as of September 30, 2023 In the nine months as of that date, unaudited revenue was approximately 35.315 billion yuan, a year-on-year increase of 91%; operating losses expanded from 4.9 billion yuan in the same period last year to 5.23 billion yuan

In addition, the updated prospectus It also shows that Jikrypton’s revenue in the first half of this year reached 21.27 billion yuan, a year-on-year increase of 136%; of which vehicle sales revenue was 13.175 billion yuan, a year-on-year increase of 148.75%; the vehicle gross profit margin reached 12.3%, a year-on-year increase of 7.6%.

In February this year, JiKrypton completed a Series A financing of US$750 million (note on this site: currently about 5.363 billion yuan), with a post-investment valuation of US$13 billion. Investors in this financing include Mobileye Amnon Shashua, founder and CEO of Global, and CATL, Yuexiu Industrial Fund, Commerce Fund, and Principal Intelligent Manufacturing Fund.

In addition, Jikrypton was officially launched in the European market in June this year, and was the first to be sold in the Netherlands, Sweden and other countries. It is understood that Jikrypton plans to expand its overseas business to six countries next year, and plans to enter eight countries in 2025.

According to Reuters’ predictions, if this listing is successful, this IPO will It has become the largest listing of a Chinese company in the United States, surpassing the US$4.4 billion raised by Didi in 2021.

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