New stock news | Bordeaux underwent a hearing at the Hong Kong Stock Exchange, with a net loss of approximately 275 million RMB in 2024.

According to the disclosure of the Hong Kong Stock Exchange on April 15, Boreton Technology Co., Ltd. (referred to as Boreton) conducted listing hearings on the main board of the Hong Kong Stock Exchange, with CICC and CMB International as its joint sponsors. According to the prospectus, Boreton is a Chinese-based provider of electric engineering machinery. The company designs, develops electric engineering machinery with automatic operation capabilities and commercializes them, as well as provides intelligent operation services. According to data from Zhushi Consultation, in 2024, the company ranked third and seventh among all Chinese manufacturers of new energy wide-body dump trucks and loaders by shipments, with market shares of 18.3% and 3.8% respectively, as the only pure manufacturer of new energy engineering machinery among the top manufacturers of these two types of new energy engineering machinery. In 2024, based on revenue, the company's market shares in the Chinese wide-body dump truck market and loader market were 3.2% and 1.3% respectively, including both new energy and fuel-powered machinery. The company also designs and develops complete sets of power systems for electric towing vehicles, and collaborates with manufacturers to introduce these vehicles to the market. The company is a rapidly growing manufacturer of electric wide-body dump trucks and loaders. From 2022 to 2024, the company's shipments of electric wide-body dump trucks increased from 59 units to 307 units, and shipments of electric loaders increased from 326 units to 450 units, with compound annual growth rates of 128.1% and 17.5% respectively. According to data from Zhushi Consultation, for three consecutive years from 2022 to 2024, the company ranked first in shipments of electric wide-body dump trucks with battery capacities exceeding 650 kilowatt-hours. The company's design and engineering process starts with a detailed analysis of customer needs and proposed usage scenarios, followed by efficiency-oriented product design and precise engineering practices. The company uses the advantage of internal production and external collaboration to adopt different manufacturing arrangements for different product types. Following this strategy, the company initially launched the 5-ton electric loader model BRT951EV in December 2019, followed by the 90-ton electric wide-body dump truck model BRT90E in May 2020. The company's product series mainly features electric models, including electric loaders with payloads ranging from 3 to 7 tons, and electric wide-body dump trucks with tonnages ranging from 90 to 135 tons. Financially, in 2022, 2023, and 2024, the company's revenues were approximately RMB 360 million, RMB 464 million, and RMB 635 million, respectively; during the same period, the net losses were approximately RMB 178 million, RMB 229 million, and RMB 275 million, respectively.