Hozon Automobile seeks listing on HK bourse

Hozon New Energy Automobile Co Ltd has applied for listing on the Hong Kong Stock Exchange's main board, according to a Hong Kong Stock Exchange announcement on Wednesday.

Hozon, parent firm of Nezha Automobile, aims to become the fifth Chinese NEV producer to list on the HKSE, after Li Auto, NIO, Xpeng and Leap Motor.

Founded in 2018, Nezha has launched five intelligent NEVs, with vehicle sales increasing from 64,230 units in 2021 to 124,189 units in 2023, indicating a 39 percent compound annual growth rate, according to Hozon's IPO prospectus.

In terms of overseas commerce, Nezha exported 17,019 units in 2023, accounting for 13.7 percent of total sales and 12.0 percent of sales income.

According to research by China Insights Consultancy, Nezha has become one of Southeast Asia's top three new-energy passenger car brands in 2023.