Saimo (02571.HK) was officially listed on the Hong Kong Stock Exchange, marking a significant step for this innovative Chinese industrial software company in the capital markets and its international development journey.
At 9 a.m., shareholder representative Liu Wenqiang, Party Secretary and Vice President of the CCID along with the three co-founders and other distinguished guests, attended the bell-ringing ceremony, creating a lively and celebratory atmosphere.
In his speech, a member of the HKEX Listing Committee introduced that Saimo was founded in 2014, dedicated to independent innovation in simulation technology, successfully filling the gap in domestic industrial software and providing the Intelligent Connected Vehicle (ICV) industry with autonomous, secure, and reliable simulation testing products and comprehensive testing, verification, and evaluation solutions.
Hu Dalin, Chairman of the Board of Saimo, expressed in his speech: “I would like to extend my heartfelt gratitude to the leaders at all levels, shareholders, customers, and partners who have supported Saimo’s development over the years, as well as to all Saimo colleagues working diligently in their respective positions. Saimo will take this listing as a new starting point, fully leveraging our competitive advantages to continuously create greater value for shareholders and investors.”
As a leading domestic industrial software company, Saimo has broken technological monopolies with its independently developed suite of simulation products, promoting the participation of domestic industrial software in global competition. Through technological innovation and reliable application delivery, Saimo consistently advances, supporting the safe and large-scale application of intelligent connected technology in the industry.
During the subsequent media briefing, He Feng, General Manager of Saimo, delivered a speech titled “Saimo Debuts on HKEX, Leading the Industrial Software Sector.” He highlighted: “Saimo is the largest player in China’s ICV testing, verification, and evaluation solutions industry, as well as in the ICV simulation testing software and platform market. It is also one of the few companies capable of providing one-stop solutions. Through independent research and development, the company possesses world-leading simulation technology and has built a ‘three-pillar’ capability system covering simulation, closed test sites, and open road testing, providing robust technical support for intelligent driving.”
The ICV simulation testing sector boasts vast market potential. According to Frost & Sullivan, China’s ICV industry market size is expected to grow from RMB 165.3 billion in 2023 to RMB 659.6 billion in 2030, with a compound annual growth rate (CAGR) of approximately 20.1%. The market size of ICV testing, verification, and evaluation solutions is projected to grow at a CAGR of 33.6% to reach RMB 27.9 billion. Saimo is committed to addressing key industry pain points and continuously innovating to provide comprehensive toolchain solutions. The toolchain, centered around Sim Pro (simulation platform) and Safety Pro (comprehensive safety analysis tool), has obtained ISO 26262 functional safety certification, forming crucial technological barriers and profit growth points for the company. Leveraging its technological advantage and market foresight, Saimo is becoming the “invisible engine” driving intelligent driving from concept to large-scale deployment and is poised to be the biggest beneficiary of this rapid growth.
In this global offering, Saimo issued 33.33 million shares, with BOCOM International as the sole sponsor and China Mobile International as a cornerstone investor, subscribing to HKD 148.5 million worth of company shares. Post-listing, Saimo will fully utilize the power of capital to embark on a new chapter of development. Of the funds raised, 62.2% will be allocated to R&D over the next three years to upgrade existing solutions and expand into emerging application fields such as drones, digital twin cities, and smart agriculture; 27.8% will be used for market expansion and brand building to support international growth, while the remaining 10% will supplement operating funds.