Ruqi Mobility of GAC Group Listed on the Hong Kong Stock Exchange

TapTechNews July 11th news, on July 10th, the smart mobility platform Ruqi Mobility under GAC Group held its listing ceremony at the Hong Kong Stock Exchange, and its shares officially started trading on the main board of the Hong Kong Stock Exchange, with the stock code 09680.HK.

According to public information, Ruqi Mobility is an innovative mobility platform jointly invested by GAC Group, Tencent, Guangzhou Public Transport Group and other enterprises, mainly providing online car-hailing and Robotaxi services; technical services; and fleet management and services.

TapTechNews learned from Ruqi Mobility's listing application form that Ruqi Mobility's total revenue in 2021 was 1.0135 billion yuan, 1.3684 billion yuan in 2022, and 2.1611 billion yuan in 2023, and the annual losses were 684.6 million yuan, 626.8 million yuan, and 692.8 million yuan respectively.

GAC Group stated that the largest use of the net proceeds received from this global offering will be used for R & D activities of autonomous driving and Robotaxi operation services, to win greater development space for the future development of Ruqi Mobility.

As of TapTechNews' posting, Ruqi Mobility's total market capitalization is 7.348 billion Hong Kong dollars (currently about 6.852 billion yuan), and the stock price is about 36 Hong Kong dollars (currently about 34 yuan).