The Special Purpose Acquisition Company (SPAC) TECHSTARACQ-Z (07855.HK) announced last year that it had entered into a business combination agreement with Seyond Holdings Ltd., which operates the LiDAR company Seyond, for a De-SPAC transaction.

Upon completion, Seyond Holdings will be listed on the Hong Kong Stock Exchange as the successor company.

Since Seyond Holdings' listing application submitted in February this year has recently expired, the company resubmitted a new listing application to the Stock Exchange on August 25.

Preliminary data shows that NIO-SW (09866.HK) (NIO.US) , as Seyond's major customer and shareholder, contributed 85.6% of Seyond's revenue in 1Q25.
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