According to Bloomberg, sources privy to the matter have disclosed that Thalys is contemplating a secondary listing on the Hong Kong Stock Exchange.

Reports indicate that Thalys has been deliberating with advisors on the feasibility of issuing shares in Hong Kong, a move that could potentially raise over $1 billion in capital. Should Thalys decide to proceed, it could potentially list on the Hong Kong exchange as early as next year.

Nonetheless, the sources caution that discussions are still ongoing, and Thalys has yet to finalize its decision regarding the IPO in Hong Kong. Details such as the issue size and fundraising amount remain subject to change.

Thalys, founded in 2016, is a burgeoning new energy vehicle brand under the Thalys Group (formerly known as Xiaokang Stock). In its nascent stages, Thalys' development trajectory was unpromising until its collaboration with Huawei propelled it to new heights.

On April 19, 2021, Thalys and Huawei jointly unveiled their maiden model, the Thalys Huawei Smart Selection SF5, which garnered over 3,000 pre-orders within 48 hours of its launch and surpassed 6,000 orders within a week.

On December 2 of the same year, Thalys and Huawei collaborated once more to introduce the AITO brand. Twenty days later, AITO's first model, the Askey M5, was officially launched.

Since then, with the AITO brand under its belt, Thalys has witnessed exponential growth in both sales and capital market attention.

In the first three quarters of this year, Thalys reported revenue of approximately 106.627 billion yuan, marking a year-on-year increase of 539.24%; net profit stood at 4.038 billion yuan, representing a year-on-year surge of 276.02%.

According to the latest production and sales bulletin, Thalys sold 36,842 new energy vehicles in November, reflecting a year-on-year increase of 54.58%. From January to November this year, Thalys sold a cumulative total of 389,566 new energy vehicles, up 255.26% year-on-year.

In accordance with Thalys' previously announced performance targets, based on the company's 2023 operating revenue and new energy vehicle sales, the 2024 operating revenue objective is to achieve a 100% increase, with new energy vehicle sales also aiming for a 100% uptick.

Comparatively, the revenue for the first three quarters of this year has already eclipsed the full-year target for 2024, and sales for the first 11 months have likewise surpassed the annual target for 2024.

Furthermore, it is noteworthy that as early as 2021, Thalys (then known as Xiaokang Stock) announced its intention to issue overseas shares (H-shares) and apply for listing on the Main Board of The Stock Exchange of Hong Kong Limited.

As of the close of trading on December 13, Thalys shares closed at 130.16 yuan, down 4.70%, with a total market value of 196.5 billion yuan.