UISEE TECH's stock plummeted 5.68% during intraday trading on Friday, continuing its downward trajectory since its recent market debut.
The decline reflects sustained post-IPO pressure as the stock continues to trade below its offering price. The broader autonomous driving sector in Hong Kong has shown systemic weakness, with peers like WeRide, Pony.ai, and CiDi also experiencing significant declines on their debut days.
Despite positioning itself as a full-scenario L4 autonomous driving company with a gross margin of 51.1%, UISEE TECH has reported cumulative net losses exceeding RMB 655 million over the past three years, with research and development expenses consistently above 70% of revenue. The secondary market continues to apply conservative valuations to unprofitable autonomous driving assets, contributing to the stock's downward pressure.
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