Magnesium Technology Announces Hong Kong Stock IPO Materials

790
Magnesium Technology recently officially disclosed its Hong Kong IPO materials, and the company's revenue exceeded 1 billion yuan in just two years. Magnesium Technology has successively reached cooperation with automakers such as Chery, Dongfeng, Changan Mazda, Nissan and Ford. In 2023, Magnesium achieved operating income of 1.513 billion yuan, of which the revenue from Desay SV accounted for 53.0%; in 2024, due to the termination of the partnership, the company's operating income fell to 1.42 billion yuan, and Desay SV's revenue share also quickly fell to 22.8%, and the loss in 2024 was still as high as 291 million yuan.