---
title: 热烈祝贺图达通成功登陆港股，高榕是天使轮领投方
titleEN: Congratulations to Seyond Listed on the HKEX
hide: false
type: 新科技
typeEN: New Technology
createDate: 2025-12-10T09:14:19.548Z
abstract: 2025年12月10日，全球图像级激光雷达解决方案提供商Seyond图达通（股票代码：02665.HK）以De-SPAC方式正式在香港交易所主板挂牌上市。图达通合计募集资金约10.27亿港元，截至09:40市值超146亿港元。
abstractEN: On December 10, 2025, Seyond (02665.HK), a global provider of
  image-grade LiDAR solutions, officially listed on the HKEX via a De-SPAC
  transaction. Seyond raised approximately HK$1.027 billion in total funds, with
  a market capitalization exceeding HK$14.6 billion as of 09:40 on the listing
  day.
content: >-
  2025年12月10日，全球图像级激光雷达解决方案提供商Seyond图达通（股票代码：02665.HK）以De-SPAC方式正式在香港交易所主板挂牌上市。图达通合计募集资金约10.27亿港元，截至09:40市值超146亿港元。


  图达通成功登陆港股，不仅彰显了资本市场对激光雷达赛道增长潜力的坚定信心，更印证了图达通领先的技术水准、成熟的商业化落地能力及强大的生态整合实力。图达通创始人、董事长兼CEO鲍君威在上市致辞中表示：“创造未来，激光雷达不是‘可选项’，而是‘必选项’，它的重要性和增长指数将超越所有人的想象。”


  ![](/static/img/图达通创始人.jpg)


  图达通成立于2016年，由CEO鲍君威博士与CTO李义民博士联合创建。高榕创投于2016年领投了图达通的天使轮融资，并参与后续A轮融资。图达通也是高榕2025年第7家成功登陆港股的投资企业。


  谈及早期投资，高榕创投创始合伙人岳斌表示，“图达通的创始人鲍君威是既懂自动驾驶、又懂精密光学的创业者。他早年创立过一家光学测量设备公司，其技术成为芯片行业的金标准，后加入百度自动驾驶部门。高榕很早便结识了他，在其决定创业后第一时间选择投资。”


  ![](/static/img/图达通合影.jpg)


  **激光雷达领导者，率先实现双路线量产**


  近年来，图达通已逐步在中国建立起完善的研发、生产及供应链体系。截至目前，图达通不仅在硅谷、苏州和上海设有研发中心，同时在苏州、德清、平湖建成高度工业化的车规级激光雷达制造基地，为产品规模化交付奠定了坚实基础。


  凭借技术突破与量产能力，图达通取得了多项行业领先成就。据灼识咨询数据，图达通是全球首家实现车规级高性能激光雷达解决方案量产的供应商，2022年至2024年期间ADAS（高级辅助驾驶系统）激光雷达解决方案累计销售收入全球排名第二。


  图达通是全球第一家实现1550nm高性能路线规模化量产的企业，并且同时具备905nm高性价比路线规模化量产能力，构建了覆盖从高端到主流市场的完整产品矩阵。其中，基于1550nm平台的“猎鹰”系列，凭借超过60万台的大规模交付成绩，在实际场景中充分验证其高性能与可靠性，为L3及以上级别高阶智能驾驶的规模化落地奠定了先发优势。


  ![](/static/img/seyond图达通多元化产品布局.png)


  **产品盈利进入正循环，坚定多元化布局**


  财务方面，图达通的收入稳步增长，同时盈利能力持续改善。2022年至2024年，公司总营收从6630万美元增长至1.59亿美元，复合年增长率达55.1%。2025年前五个月实现12.9%的毛利率，标志着图达通产品盈利进入正向循环。


  业绩增长背后，是图达通采取的多元化战略。根据最新招股书，图达通2025年前9个月，交付了约18.1万台车规级激光雷达，同比增长7.7%。除了“猎鹰”系列销量持续增长，“灵雀”系列也快速上量。2025年前五个月“灵雀”销量达11228台，基本与2024年全年的11589台销量持平，印证了产品矩阵的扩张成效。


  图达通在巩固与蔚来深度合作的同时，客户多元化取得了关键性突破。招股书显示，公司获得了十四家主机厂及ADAS/ADS（高级辅助驾驶系统/自动驾驶系统）公司的设计定点，这些新定点预计将从2025年底开始贡献销售收入，带来全新的增长动能。


  **车规级市场持续景气，拓展第二增长曲线**


  根据灼识咨询数据，全球激光雷达解决方案市场规模预计从2025年的35亿美元增长至2030年的413亿美元，复合年增长率达63.7%；其中，ADAS应用市场规模预计从2025年的19亿美元增长至2030年的197亿美元，复合年增长率59.8%。业内人士表示，这主要得益于L2+及以上级别ADAS的快速渗透，而中国作为全球最大的汽车市场，车规级激光雷达渗透率提升更为显著，预计市场规模复合增速将高于全球平均水平。


  在车规级市场，图达通凭借在1550nm激光雷达领域的量产经验与半固态扫描架构，可支撑其在远距场景保持领先。同时，“灵雀”系列在中距场景的布局，可覆盖更广泛的客户需求，形成“远距+中距”的产品组合优势。


  此外，图达通的产品应用已从乘用车领域，拓展至商用车、机器人、无人配送、智慧城市、智慧高速、智慧轨交等广阔赛道。图达通已获得深向Deepway、陕汽重卡、赢彻科技、九识智能等行业头部企业的大规模订单，表明公司为第二增长曲线做好了准备。


  **极致三维感知技术，助力打造物理世界AI**


  鲍君威在上市致辞中表示，无处不在、无时不在的空间信息，将是构成物理世界AI的基本元素。具身智能、智慧交通、工业自动化等物理世界AI的应用场景落地，将为图达通带来更广阔的市场空间。


  ![](/static/img/图达通上市岳斌.jpg)


  岳斌表示，“热烈祝贺Seyond图达通成功登陆港股！高榕2016年首轮投资图达通时，智驾行业还处于非常早期的阶段；今天智驾已经完全融入我们的日常生活之中，激光雷达也成为高阶自动驾驶重要的传感器。我们很高兴陪伴图达通团队克服重重挑战，让最初的技术设想变为现实。今天图达通已经在产品矩阵、量产经验、商业场景拓展等方面取得了很好的进展。祝福公司在新的起点，用极致的三维感知技术，高效连接数字世界和智能便利生活。”
contentEN: >-
  On December 10, 2025, Seyond (02665.HK), a global provider of image-grade
  LiDAR solutions, officially listed on the HKEX via a De-SPAC transaction.
  Seyond raised approximately HK$1.027 billion in total funds, with a market
  capitalization exceeding HK$14.6 billion as of 09:40 on the listing day.


  Seyond’s successful listing not only reflects the capital market’s firm confidence in the growth potential of the LiDAR sector, but also validates Seyond’s leading technical standards, mature commercialization capabilities, and robust ecosystem integration strength. In his listing ceremony address, Seyond founder, Chairman and CEO Dr. Junwei Bao stated: “In creating the future, LiDAR is not an ‘option’ but a ‘necessity.’ Its importance and growth trajectory will exceed everyone’s expectations.”


  ![](/static/img/图达通创始人.jpg)


  Founded in 2016, Seyond was co-established by CEO Dr. Junwei Bao and CTO Dr. Yimin Li. Gaorong Ventures led the company's angel round in 2016 and participated in the subsequent Series A financing. Seyond marks the seventh portfolio company of Gaorong Ventures to successfully list on the HKEX in 2025.


  Reflecting on the early investment, Gaorong Ventures Founding Partner Bin Yue noted: “Seyond’s founder, Junwei Bao, is an entrepreneur with deep expertise in both autonomous driving and precision optics. Earlier in his career, he founded an optical measurement equipment company whose technology became a gold standard in the chip industry, and later joined Baidu’s autonomous driving division. Gaorong became acquainted with him very early on and chose to invest immediately upon his decision to start this new venture.”


  ![](/static/img/图达通合影.jpg)


  **LiDAR Leader with Pioneering Dual-Route Mass Production**


  In recent years, Seyond has established a comprehensive R&D, production, and supply-chain system in China. To date, the company has set up R&D centers in Silicon Valley, Suzhou, and Shanghai, and constructed highly industrialized automotive-grade LiDAR manufacturing bases in Suzhou, Deqing, and Pinghu, laying a solid foundation for large-scale product delivery.


  Through technological breakthroughs and mass production capabilities, Seyond has achieved multiple industry-leading milestones. According to China Insights Consultancy, Seyond was the world's first supplier to achieve mass production of automotive-grade high-performance LiDAR solutions. From 2022 to 2024, the company ranked second globally in cumulative sales revenue for ADAS LiDAR solutions.


  Seyond is also the first company worldwide to achieve large-scale mass production of 1550-nm high-performance LiDAR, while simultaneously scaling its 905-nm cost-efficient product line.This has enabled the company to form a full portfolio that covers both premium and mainstream markets.Among these, the 1550-nm “Falcon” series has exceeded 600,000 units in cumulative deliveries, demonstrating high performance and reliability in real-world deployment and securing an early-mover advantage for L3-plus intelligent driving.


  ![](/static/img/seyond图达通多元化产品布局.png)


  **Profitability enters a positive cycle; Steadfast in Diversified Layout**


  Financially, Seyond has maintained steady revenue growth alongside improving profitability. From 2022 to 2024, total revenue grew from USD 66.3 million to USD 159 million, representing a CAGR of 55.1%. In the first five months of 2025, the company achieved a gross margin of 12.9%, marking a transition into a positive profitability cycle.


  Its growth is underpinned by a diversified product strategy. According to the latest prospectus, Seyond delivered approximately 181,000 automotive-grade LiDAR units in the first nine months of 2025, up 7.7% year-on-year. While the "Falcon" series continued to scale, the “Robin” series also ramped up rapidly, with 11,228 units delivered in the first five months of 2025, nearly matching the 11,589 units delivered in all of 2024, demonstrating the effectiveness of the expanding product portfolio.


  ![](file:///C:\Users\高榕资本\AppData\Local\Temp\ksohtml9452\wps11.jpg)Seyond’s Diversified Product Layout: Falcon, Robin, and Hummingbird Series


  In addition to deepening its collaboration with NIO, the company has achieved a key breakthrough in customer diversification. The prospectus shows that Seyond has secured design wins from 14 OEMs and ADAS/ADS companies, with revenue contribution expected to begin in late 2025 and provide new momentum for growth.


  **Automotive-Grade Market Continues to Thrive; Expanding the Second Growth Curve**


  According to China Insights Consultancy, the global LiDAR solutions market is expected to grow from USD 3.5 billion in 2025 to USD 41.3 billion in 2030, with a CAGR of 63.7%. The ADAS application segment is projected to grow from USD 1.9 billion to USD 19.7 billion during the same period (CAGR 59.8%). Industry observers attribute this growth mainly to the rapid penetration of L2+ and higher-level ADAS. As the world’s largest automotive market, China is expected to see even faster growth in automotive-grade LiDAR penetration.


  In the automotive sector, Seyond’s mass-production experience with 1550-nm LiDAR and its semi-solid-state scanning architecture support its leadership in long-range perception. Meanwhile, the "Robin" series targets mid-range scenarios, enabling a “long-range + mid-range” dual-product advantage to meet broader customer needs.


  Beyond passenger vehicles, Seyond is expanding into commercial trucks, robotics, unmanned delivery, smart cities, smart highways, and smart rail systems. The company has secured large-scale orders from industry leaders such as Deepway, Shaanxi Heavy Duty Truck, Inceptio Technology, and Zelos, demonstrating readiness for its second growth curve.


  **Ultimate 3D Perception Technology Powering Physical World AI**


  In his listing speech, Dr. Junwei Bao stated that ubiquitous and ever-present spatial information will be the fundamental element constituting AI in the physical world. The implementation of Physical AI applications, such as embodied intelligence, smart transportation, and industrial automation, will open up broader market spaces for Seyond.


  Gaorong began exploring AI applications including autonomous driving as early as 2014, believing the technology would profoundly reshape daily life. In this direction, Gaorong Ventures has invested in outstanding enterprises such as Seyond (02665.HK), Nuro, Momenta, Neolix, and Innoviz (NASDAQ: INVZ).


  ![](/static/img/图达通上市岳斌.jpg)


  Bin Yue commented: "Congratulations to Seyond on its successful Hong Kong listing! When Gaorong first invested in Seyond in 2016, the autonomous driving industry was still in its very early stages. Today, intelligent driving has become fully integrated into our daily lives, and LiDAR has become an essential sensor for advanced autonomous driving. We are delighted to have accompanied the Seyond team in overcoming numerous challenges to turn their initial technological vision into reality. Today, Seyond has made remarkable progress in its product portfolio, mass production expertise, and commercial scenario expansion. We wish the company continued success from this new starting point, leveraging its cutting-edge 3D perception technology to efficiently connect the digital world with intelligent and convenient living."
pic: /static/img/图达通合影.jpg
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