Seyond Holdings, a leading LiDAR technology company, has received approval from the China Securities Regulatory Commission (CSRC) for its proposed listing in Hong Kong, marking a major step toward entering the public markets.
According to an announcement published Tuesday on the CSRC website, Seyond plans to list on the Hong Kong Stock Exchange through a merger with special purpose acquisition company (SPAC) TechStar Acquisition Corporation. The firm intends to issue no more than 190,240,000 ordinary shares as part of the transaction.
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Founded in 2016, Seyond — formerly known as Innovusion before its rebranding in December 2023 — operates R&D centers in Silicon Valley, Suzhou, and Shanghai, alongside LiDAR manufacturing facilities in Ningbo and Suzhou. Its technology portfolio includes high-performance sensors designed for autonomous driving and advanced driver-assistance systems.
The company has demonstrated strong financial growth in recent years, with revenue rising from $66.3 million in 2022 to $159.58 million in 2024. In the first quarter of 2025, Seyond achieved a positive gross margin of 12.6 percent.
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Seyond and TechStar entered a business combination agreement in December 2024, with the initial listing application submitted in February 2025. After the application lapsed due to timing constraints, it was resubmitted in August, leading to the latest CSRC approval.
