On August 20, 2025, Banma Network Technology Co., Ltd. submitted its prospectus to the Hong Kong Stock Exchange, with Deutsche Bank, CICC, and Guotai Junan International serving as the joint sponsors. By February 20, 2026, the prospectus had become invalid as six months had elapsed. It is reported that Banma Zhixing is China's largest software-centric supplier of intelligent cockpit solutions.
