Software Engineer

👩‍🍳 How we use AI at Tech in Asia, thoughtfully and responsibly.🧔‍♂️ A friendly human may check it before it goes live. More news hereEve Energy, China’s fifth-largest electric vehicle (EV) battery producer, plans to raise capital by listing on the Hong Kong Stock Exchange.The Shenzhen-listed company announced on June 10, 2025 that its board approved a fundraising plan to support international expansion.Details regarding the share offering have not yet been finalized.The company indicated that the timing of the listing will depend on market conditions.🔗 Source: South China Morning Post🧠 Food for thought1️⃣ China’s EV battery makers are strategically expanding global footprints amid industry consolidationEve Energy’s Hong Kong listing plan reflects a trend of Chinese battery manufacturers seeking international capital to fund expansion beyond domestic markets.CATL, the world’s largest EV battery maker, successfully raised $5.22 billion in its Hong Kong listing in May 2024, demonstrating strong investor appetite for China’s battery leaders 1.This capital-raising strategy supports critical supplier relationships with global automakers, as evidenced by Toyota’s partnership with CATL to secure a stable supply of lithium-ion batteries for its EV production targets 2.The move comes as automakers worldwide are racing to secure battery supply chains, with Toyota aiming for EVs to comprise half of its global sales by 2025 – approximately 5.5 million vehicles 2.Eve Energy’s international expansion aligns with the industry practice of first securing significant domestic market share before leveraging that position to compete globally in the rapidly growing EV battery market.2️⃣ Hong Kong emerges as the preferred capital-raising hub for China’s tech and mobility sectorsThe flurry of mainland Chinese companies seeking Hong Kong listings represents a strategic shift in where Chinese innovation-focused companies raise capital.The Hong Kong market has shown strong receptiveness to Chinese tech listings in 2025, with the Hang Seng Tech Index increasing nearly 30% in early 2025 3.This surge in listings coincides with improved investor sentiment toward Chinese technology companies, particularly those positioned in artificial intelligence and electric mobility sectors 4.The strong post-IPO performance of CATL, with shares climbing 14% since its May debut, signals investor confidence in China’s EV supply chain leaders and likely encouraged Eve Energy’s similar move 1.The trend extends beyond batteries to include autonomous driving companies like Pony.ai and component suppliers like Hesai, indicating a broader tech ecosystem migration to Hong Kong’s capital markets

Pony.ai launches Gen-7 robotaxi.

👩‍🍳 How we use AI at Tech in Asia, thoughtfully and responsibly.🧔‍♂️ A friendly human may check it before it goes live. More news hereChinese smart mobility companies are preparing for initial public offerings (IPOs) in Hong Kong to attract global investors interested in the automotive and technology sectors.Among these companies are Chery Automobile, Seres Group, and Pony.ai, which aim to raise significant funds for expanding their global presence.Hong Kong has established itself as a major IPO hub, with over 150 companies in the listing pipeline, according to Bonnie Chan Yiting, CEO of Hong Kong Exchanges and Clearing (HKEX).Notably, battery maker Contemporary Amperex Technology (CATL) raised HK$41 billion (US$5.2 billion) in May 2025.This marked this year’s largest IPO globally.State-controlled Chery Automobile intends to raise at least US$1.5 billion to expand its offerings in Europe and Asia.Seres Group, in partnership with Huawei Technologies, plans to enhance its overseas sales and charging infrastructure, according to its filing.Hesai Group, an autonomous driving tech firm, has also filed confidentially for a Hong Kong listing.Analysts believe these IPOs could further strengthen China’s position in the electric vehicle and smart mobility industries.🔗 Source: South China Morning Post🧠 Food for thought1️⃣ Geopolitical tensions reshaping Chinese tech fundraising landscapesThe shift of Chinese tech companies toward Hong Kong IPOs reflects a broader adaptation to changing global investment patterns amid US-China tensions.Chinese companies previously favored US exchanges, raising approximately $9 billion through IPOs in 2018, but many of these listings subsequently experienced a 13% average decline in value1.NIO’s experience illustrates this pattern. While it raised $1 billion on the NYSE in 2018, it faced significant market skepticism and priced at the lower end of its expected range despite ambitious goals2.Recent data shows China actively working to stabilize foreign investment amid declining FDI, which fell 13.4% in January 2025 following a 27.1% drop in 20243.These fundraising challenges demonstrate how geopolitical tensions have created structural shifts in capital flows, making Hong Kong increasingly attractive as a middle ground that offers both international capital access and proximity to mainland markets.2️⃣ China’s EV market dominance drives global investor interest despite challengesChina’s commanding position in the global electric vehicle market helps explain international investor enthusiasm for its smart mobility companies despite broader market challenges.In 2024, China’s EV market grew by 38.2% with 11.2 million vehicles registered, with Chinese manufacturers capturing most of the market. BYD alone secured a 31.4% market share with 3.52 million deliveries4.This dominance continued into 2025, with Chinese brands accounting for a substantial portion of the 4.3 million global EV deliveries in Q1 2025, growing 34.9% year-on-year5.The performance gap between Chinese and Western manufacturers has widened, with Chinese EV giants reporting record-breaking combined sales of nearly 98,000 vehicles in May 2025—a 50% increase year-over-year—while Tesla’s China sales declined 23% in early Q2 20256.These market dynamics explain why global investors are “actively hunting for China’s next industry leaders” in Hong Kong IPOs, seeing potential for companies that have demonstrated the ability to capture significant global market share in a rapidly growing industry