Shulou(Shulou.com)11/24 Report--

March 14, according to foreign media reports, Wenyuan Zhixing, a Guangzhou-based self-driving technology company, has secretly applied for IPO in the United States to seek financing of up to 500 million US dollars (currently about 3.43 billion yuan).

Foreign media quoted people familiar with the matter as saying that Wen Yuan knew that Hong Kong had secretly applied for IPO in the United States, and that the start-up was working with consultants to discuss an IPO that could be carried out as soon as the first half of the year.

However, people familiar with the matter also revealed that discussions on IPO are ongoing and that details, including the size and timing of financing, are likely to change.

According to the news published on the official website, Wenyuan Zhixing, founded in 2017, is headquartered in Guangzhou and has branches in Beijing, Shanghai, Shenzhen, Zhengzhou, Nanjing, Wuhan, Anqing and San Francisco. It has rich practical experience at home and abroad in technology research and development, commercialization and enterprise management.

As a self-driving technology company, Wenyuan Zhixing is committed to developing safe and reliable self-driving technology, is the world's leading L4 self-driving technology company, has carried out self-driving research and development, testing and operation in more than 25 cities around the world.

The information on the official website also shows that Wenyuan Zhixing has formed five major product matrices, including self-driving taxis, self-driving minibuses, self-driving freight vehicles, self-driving sanitation vehicles, and high-level intelligent driving. Provide online car-hailing, on-demand bus, inter-city freight transport, intelligent sanitation, high-level intelligent driving solutions and other services.

Wen Yuan Zhixing, which has not been established for a long time, has already received investment from a number of companies, including Nissan-Mitsubishi Alliance, Yutong Group, GAC GROUP, Bosch, and Nvidia. There are also financial investors such as Yunjiu Capital, Yuanhe Holdings and Huajin Capital.

In terms of IPO, judging from foreign media reports, Wen Yuan Zhi Xing has been considering it at least last year. Last year, foreign media reported that Wenyuan knew that Hong Kong was considering IPO, including the United States and Hong Kong.

Although Wen Yuan knows that the details of IPO have not yet been released, according to the report, the valuation will not be low. In a financing round in March last year, they were valued at about $4.4 billion (currently about 30.184 billion yuan).

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