According to the Hong Kong Stock Exchange, Weimar submitted its application form for listing on the main board of the Hong Kong Stock Exchange, with Haitong International, China Bank International and Bank of China International as co-sponsors.

It is worth noting that Weimar previously completed nearly $600 million in Pre-IPO round financing, with a cumulative financing amount of 35 billion yuan. As for shareholders, the prospectus shows that Shen Hui and Wang Lei hold a total of 30.82%, Agile Group holds 6.46%, and Baidu, Inc. holds 5.96%.

Weima is a pioneer in introducing innovative intelligent electric vehicle technology into China's mainstream market. The company recorded rapid sales growth, with sales of 44152 electric vehicles in 2021, more than double that of 2020. Therefore, according to Zuoshi Consulting, the company ranks first among all pure electric vehicle manufacturers in China's mainstream market in 2021 in electric SUV sales, and ranks third among all local automakers in China's mainstream market in electric vehicle sales and smart electric vehicle sales in 2021.

According to the prospectus, after the launch of the company's M7 in the second half of 2022, the company is expected to have a total of five models (including various versions of each model). This makes the company the company with the largest number of electric vehicles among all pure electric car manufacturers in China between 2018 and 2022.

In building its product portfolio, Weimar first developed the SUV, a popular family model, including the company's EX5, EX6 and W6, as well as E5 and M7 sedans. According to Zuoshi Consulting, the company's EX5 is an affordable smart electric vehicle in terms of cumulative sales as of December 31, 2021, and is still the No. 1 electric SUV in the mainstream market in China.

Weimar has established a proprietary modular vehicle development platform, including the company's Living Pilot AD/ADAS platform, Living Motion electric powertrain platform, Living Engine intelligent cockpit platform and Ajax chassis platform. The company is also developing the Caesar chassis platform, based on which the company will launch new models in 2023.

As of December 31, 2021, the company has 1141 R & D personnel, accounting for 54.1% of the total number of employees except blue-collar workers, and about 91.0% of the R & D personnel have bachelor's degree or above. In addition, as of the latest practicable date, the company has its own R & D centers in Chengdu, Shanghai and Wenzhou, as well as AD/ADAS-related joint R & D centers with a leading Chinese technology company.

Weimar is the first pure electric car manufacturer in China to set up its own production facilities from the very beginning, according to Zhenshi Consulting. The two self-owned production facilities in Zhejiang and Hubei provinces have a total annual production capacity of 250000 vehicles, and both are qualified for the production of electric vehicles.

Based on the company's highly automated facilities and the company's C2M platform, Weima Automobile has established the "Industrial 4.0" manufacturing system. For example, as of the last practical date, the main production lines of all the company's automotive stamping, welding and painting workshops were 100% automated, and each of the company's two production facilities were equipped with approximately 200 robots provided by leading international suppliers. In addition, the company's C2M platform enables users to place personalized orders through the company's Weima Zhixing application and other online channels. and the company further enhances the company's intelligent manufacturing and quality control through the digital system in the platform and proprietary big data algorithm.

Weimar Electric car sales recorded strong growth during the track record period. As of December 31, 2021, the company has sold a total of 83495 electric vehicles since its first model was launched in September 2018. During the track record period, the company's electric vehicle sales increased significantly, from 12799 in 2019 to 21937 in 2020 and 44152 in 2021.

The company's total revenue grew rapidly from 1.762 billion yuan in 2019 to 2.672 billion yuan in 2020, and a further 77.5 percent in 2020 to 4.743 billion yuan in 2021. During the track record period, the company's gross loss rate improved, from 58.3% in 2019 to 43.5% in 2020 and 41.1% in 2021.

The mainstream market refers to the electric vehicle market segment with manufacturers' suggested retail prices ranging from 150000 yuan to 300000 yuan, which is the largest and fastest-growing market segment in China's electric vehicle industry. Sales in China's mainstream electric vehicle market are expected to grow from 0.9 million in 2021 (accounting for 32.4% of China's total electric vehicle sales in 2021) to 3.0 million in 2026 (accounting for 35.9% of China's total electric vehicle sales in 2026). The compound annual growth rate from 2021 to 2026 is 27.7%.

In terms of competition, there are more than 70 Chinese electric car manufacturers in 2021. The mainstream market is the largest segment of China's electric vehicle market, with sales of 0.9 million vehicles in 2021, accounting for about 32.4% of China's total electric vehicle sales for the whole year. According to the sales of electric SUV in 2021 and the cumulative sales of electric SUV up to December 31, 2021, Weima ranks first among the pure electric vehicle companies in China's mainstream market.