Thalys has officially filed an initial public offering (IPO) application with the Hong Kong Stock Exchange today, with CICC and China Galaxy International serving as joint sponsors. According to the prospectus, Thalys is a technology-driven enterprise focused on new energy vehicles (NEVs) as its core business, encompassing the entire value chain from R&D, manufacturing, sales, to services of NEVs and core electric components. Established in 1986, Thalys has undergone numerous transformations, fully dedicating itself to the NEV sector in 2016 and subsequently launching the AITO brand in 2021. In 2024, the AITO brand achieved a total annual delivery volume of 387,100 units, representing a significant year-on-year increase of 268%. Thalys, consequently, recorded a net profit of RMB 5.9 billion, marking its inaugural profitable year and paving the way for its planned "A+H" dual listing.