Lei Jianping on April 30
Brayton Technology Co., Ltd. (hereinafter referred to as "Brayton") has submitted a prospectus to be listed on the Hong Kong Stock Exchange.
Brayton had received A-share listing counseling and submitted 4 counseling progress reports from April 2023 to January 2024, and finally, terminated the listing process on April 1, 2024 and chose to list in Hong Kong.
The annual revenue is 460 million and the loss is 229 million
Founded in 2016, Brighton's business covers the entire industrial chain of clean energy production, storage and utilization, and can provide users with integrated solutions for green energy management of wind and solar storage and transportation, hydrogen fuel and pure electric construction machinery, mining trucks, heavy trucks, unmanned driving and other products.
Focusing on the main channel of new energy strategy, based on the core technologies such as self-developed powertrain, battery pack and temperature management system, Brayton has the ability to integrate the whole industry chain such as vehicle research and development, technology integration, and manufacturing, and has developed into an enterprise in the field of new energy construction machinery and heavy trucks.
In December 2019, Brayton launched the five-ton electric loader model BRT951EV, followed by the 90-ton electric wide-body dump truck model BRT90E in May 2020. As at the Latest Practicable Date, the product range mainly featured electric models, including electric loaders with payloads ranging from three to seven tonnes and electric wide-body dump trucks with tonnages ranging from 90 to 105 tonnes.
From 2021 to 2023, Brayton's shipments of new energy loaders and new energy wide-body dump trucks increased from 144 to 507 and from 11 to 96 respectively.
According to the prospectus, Borayton's revenue in 2021, 2022 and 2023 will be 200 million yuan, 360 million yuan and 464 million yuan respectively, the gross profit will be 7.32 million yuan, 8.17 million yuan and 9.28 million yuan respectively, and the gross profit margin will be 3.7%, 2.3% and 2% respectively.
In 2021, 2022 and 2023, the operating loss of Breton will be 88.77 million yuan, 170 million yuan and 239 million yuan respectively, and the operating profit margin will be -44.2%, -47.1% and -51.6% respectively.
In 2021, 2022 and 2023, the losses of Breton will be 97.47 million yuan, 178 million yuan and 229 million yuan respectively, and the loss rate during the year will be 48.5%, 49.4% and 49.5% respectively.
Breton's adjusted net loss in 2021, 2022 and 2023 will be 92.5 million yuan, 143 million yuan and 190 million yuan, respectively.
As of December 31, 2023, Brighton had cash and cash equivalents of $422 million.
Chen Fangming controls 32% of the shares
The executive directors of Breton are Chen Fangming, Dr. Qiu Debo, Sun Kanghua and Ms. Yang Hui, the non-executive directors are Cao Haiyi and Wang Zhenkun, and the independent non-executive directors are Zhou Yuan, Dr. Li Xiaoyin, Dr. Jiang Bailing and Yan Zhixiong respectively.
In October 2018, Breton raised 50.16 million yuan with a post-investment valuation of 143 million yuan, 275 million yuan in August 2021 with a post-investment valuation of 1.625 billion yuan, in June 2022 it raised a C round of financing with a post-investment valuation of 4.076 billion yuan, and in January 2023, it completed a C+ round of financing of 954 million yuan with a post-investment valuation of 5.248 billion yuan.
Before the IPO, Shanghai Fang Ao held 23.05% of the shares, Chen Fangming directly held 8.48% of the shares, Yun Tribe Yijin held 0.65% of the shares, and Shanghai Fang Ao, Chen Fangming and Yun Tribe Yi Jin were acting in concert, controlling a total of 32.18% of the company's shares.
Zhongdi holds 7.71% of the shares, and the shareholders of Zhongdi include Jiaxing Dixin, Fujian Diquan, Jiaxing Tongneng, Zibo Naying and Xiao Wenbin, Zibo Naying holds 2.32% of the shares, Fujian Diquan holds 2.16% of the shares, Jiaxing Tongneng holds 1.25% of the shares, Jiaxing Dixin holds 1.12% of the shares, and Xiao Wenbin holds 0.84% of the shares.
Zhongding holds 7.03% of the shares, of which Zhongding No. 5 holds 6.39% of the shares, Zhongding Qinglan holds 0.64% of the shares, Xiangtan Caixin and Changjiang Chegu hold 5.72% of the shares, Huzhou Qingyun holds 5.28% of the shares, and Shanghai Jifang holds 4.08% of the shares.
Jinhua Borayton holds 3.81% of the shares, Cai Yulin holds 3.04% of the shares, Lin Ziting holds 2.81% of the shares, Kesheng Center holds 1.71% of the shares, Yang Zibin and Zhao Yongge hold 1.69% of the shares, Yang Jiayong holds 1.46% of the shares, Shandong Kinetic Energy holds 1.43% of the shares, Guangzhou Naibexin holds 1.35% of the shares, Dayang Electric holds 1.3% of the shares, Hefei Renton holds 1.28% of the shares, and Rockets Capital holds 1.18% of the shares;
Jiaxing Xuying holds 0.93%, Qiu Debo holds 0.84%, Zhang Xiaohui holds 0.73%, Yang Hui holds 0.7%, Chai Guang holds 0.65%, Yue Yong holds 0.64%, Shanxi Industrial holds 0.39%, Zhongchuang Hengxing holds 0.22%, Xingyue Puyu holds 0.57%, Zhao Xuewen holds 0.56%, You Yifei holds 0.51%, Shanghai Chenqi holds 0.48%, and Shenzhen Changde holds 0.45%.
———————————————
Lei Di was founded by Lei Jianping, a media person, if it is reprinted, please indicate the source.