Mobvoi expects the IPO price on April 24 to be no more than HK$4.10 per share

MobvoiexistHong Kong Stock ExchangeAccording to the announcement, the IPO will be held from April 16 to April 19, 2024, with a global offering of 84,568,000 shares and an over-allotment option of 15%. The offering price will not exceed HK$4.10 per share. It is expected that the shares will start trading on the Stock Exchange on April 24, 2024.

Mobvoi expects the IPO price on April 24 to be no more than HK$4.10 per share

It is reported that Chumenwenwen is aArtificial Intelligence Companies, focusing on providing AIGC Solutions, AI enterprise solutions, smart devices and accessories, etc. The company launched AI Copilot solutions in 2020.The first AIGC dubbing platform "Magic Sound Workshop" launched an upgraded general large model "Sequence Monkey" in 2023, which has natural language processing and generation capabilities. Mobvoi also provides a one-stopDigital Human Production Platform"Qimiaoyuan", enterprise AI interactive digital employee generation platform "Qimiaowen" and other solutions. Since 2020, the company has more than 9 million AIGC solution users, about 840,000 AIGC paying users, and has generated more than 1 million payments.

Financial data shows that Mobvoi's revenue from 2021 to 2023 will be 398 million yuan, 500 million yuan and 507 million yuan respectively, with AI software revenue increasing from 60 million yuan to 343 million yuan, and its share rising from 15.0% to 67.7%. Among them, the compound annual growth rate of AIGC solution revenue exceeds 300%.

Mobvoi said in its prospectus that the funds raised from the IPO will be used to improve modeling technology, develop and market solutions, seek investments and acquisitions, and be used as working capital. The company will continue to introduceWorld LeadingWe will use new technologies and talents to strengthen model training and vertical optimization of underlying basic models.

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