Business Valuation

Congratulations to Shanghai Biren Technology Co., Ltd.（6082.HK） on its successful Listing on the Mainboard of HKSE on 2 Jan 2026.
Shanghai Biren Technology Co., Ltd. ( “Biren Technology” ) is an enterprise dedicated to the research and development of general-purpose computing on graphics processing units ("GPGPU") chips and the development of GPGPU-based intelligent computing solutions.
With regard to this listing application, AVISTA Group is honored to be engaged in providing valuation services on financial instruments, long-lived asset impairment test, long-term equity investment impairment test, financial assets and investment properties.
Congratulations again Shanghai Biren Technology Co., Ltd.（6082.HK） on its successful listing. The issue price of the shares is HKD 19.6 per share, and the amount of funds raised is HKD 5.83 billion.
 
<img src="../../../../../uploads/1_1d2c6863c1.JPG" alt="" width="960" height="720" />
<img src="../../../../../uploads/3293290934603ba257f933585b165f76_f0962f1412.JPG" alt="" width="1049" height="700" />
<img src="../../../../../uploads/db1423db430beed77700791054b0ea2b_b3397d836a.JPG" alt="" width="933" height="700" />

banner1

Congratulations to Shanghai Biren Technology Co., Ltd.（6082.HK） on its Successful Listing

As the festive season arrives once again, AVISTA Group would like to extend our heartfelt wishes to you and your loved ones. May this Christmas bring you moments of peace, joy, and cherished togetherness.
Merry Christmas!🎅🎁🌟
<img src="../../../../../uploads/Final_V1_feebcf282d.jpg" alt="" width="1240" height="1748" />

🎄✨ Season's Greetings from AVISTA Group! _2025✨🎄

AVISTA Group is pleased to once again participate in the Heep Yunn School Work Experience Placement Programme this year. Through this initiative, we are providing two talented Form 4 students, Liza and Charlotte, with a 4-day work placement in our valuation advisory team. This opportunity allows them to gain first-hand workplace experience and practical insights into the business valuation advisory industry.
At AVISTA, we remain committed to nurturing the next generation of leaders by offering meaningful learning experiences. We are pleased to welcome these bright students to our team, share our expertise, and support them as they explore their future career paths.
<img src="../../../../../uploads/IMG_1572_e789fc522c.jpeg" />

As a Participating Company in Heep Yunn School Work Experience Placement Programme_2025

CiDi Inc. is a leader in intelligent driving products and solutions for commercial vehicles in China, focusing on autonomous mining trucks and logistics vehicles in closed environments, V2X technology, and intelligent perception solutions.
With regard to this listing application, AVISTA Group is honored to be engaged in providing valuation services in relation to financial guarantee, expected credit losses, equity investments, employee stock options and impairment testing of cash-generating units.
Congratulations again CiDi Inc.（3881.HK） on its successful listing. The issue price of the shares is HKD 263 per share, and the amount of funds raised is HKD 1.4223 billion.
<img src="../../../../../uploads/Slide1_04173fe6b0.JPG" alt="" width="960" height="720" />

Congratulations to CiDi Inc.（3881.HK） on its successful Listing on the Mainboard of HKSE on 19 Dec 2025

Congratulations to Seyond Holdings Limited (2665.HK) on its completion of the De-SPAC transaction with TechStar Acquisition Corporation and listed on the Mainboard of HKSE on 10 December 2025
 
Seyond Holdings Limited was founded in 2016 and has rapidly become a global leader in automotive-grade LiDAR solutions, supplying high-fidelity LiDAR sensors and intelligent sensing systems for autonomous driving, intelligent transportation, robotics, and infrastructure applications. The company is among the first to achieve mass-production of automotive-grade LiDAR and ranked first globally in passenger-car LiDAR solution sales in 2023. 
 
With regard to this De-SPAC application, AVISTA Group is honored to be engaged in providing the valuation service in relation to the fair value assessment of promoter warrants and promoter shares. Under the agreed terms, Seyond’s valuation is HKD 11.7 billion, and the amount of funds raised from PIPE investors is approximately HKD 551.3 million.
<img src="../../../../../uploads/Slide1_6d59b34d9d.JPG" alt="" width="960" height="720" />

Congratulations to Seyond Holdings Limited (2665.HK) on its completion of the De-SPAC transaction with TechStar Acquisition Corporation and listed on the Mainboard of HKSE

Congratulations to Shanghai Bao Pharmaceuticals Co., Ltd.（2659.HK） on its successful Listing on the Mainboard of HKSE on 10 Dec 2025.
Shanghai Bao Pharmaceuticals Co., Ltd. is a clinical-stage biotechnology company leveraging synthetic biology technology to develop and deliver recombinant biologic drugs in China, targeting conditions with limited treatment options and complex manufacturing challenges.
  Shanghai Bao Pharmaceuticals Co., Ltd. has strategically focused on creating biologic drugs that elevate treatment standards by replacing biochemically extracted products derived from animal organs, blood or urine, or otherwise upgrading the current treatments.
With regard to this listing application, AVISTA Group is honored to be engaged in providing valuation services for two industrial properties located in Baoshan District, Shanghai City, the PRC.
Congratulations again Shanghai Bao Pharmaceuticals Co., Ltd.（2659.HK） on its successful listing. The issue price of the shares is HKD 26.38 per share, and the amount of funds raised is HKD1,000.1 million.
 
<img src="../../../../../uploads/Slide1_66151505b8.JPG" alt="" width="960" height="720" />

Congratulations to Shanghai Bao Pharmaceuticals Co., Ltd.（2659.HK） on its Successful Listing

Congratulations to Hebei Haiwei Electronic New Material Technology Co., Ltd.（9609.HK） on its successful Listing on the Mainboard of HKSE on 28 Nov 2025
Hebei Haiwei Electronic New Material Technology Co., Ltd. is one of China’s largest manufacturers of capacitor film used in film capacitors for new energy vehicles (NEVs), new energy electricity system, industrial equipment, home appliances and other end-use application scenarios. It engages primarily in the production and sale of capacitor film products for film capacitors and possesses the capability of independent design and development of capacitor base film production lines.
With regard to this listing application, AVISTA Group is honored to be engaged in providing valuation services on secured liabilities and PPA.
Congratulations again Hebei Haiwei Electronic New Material Technology Co., Ltd. （9609.HK） on its successful listing. The issue price of the shares is  HKD 14.28 per share, and the amount of funds raised is HKD 506.31 million.
<img src="../../../../../uploads/1_dcd25cb05c.JPG" alt="" width="960" height="720" />
<img src="../../../../../uploads/_d7901f42d4.jpg" alt="" width="1000" height="1333" />