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TechStar Acquisition Corporation Class A
(2665)
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Rating:41Neutral
Price Target:
HK$2.50
â–Ľ(-72.19% Downside)
Action:Upgraded
Date:07/29/26
The score is driven primarily by weak financial performance—persistent net losses and ongoing cash burn outweigh revenue growth and the 2025 gross margin improvement. Technicals further pressure the score as the stock trades below all major moving averages, signaling a strong downtrend. Valuation provides limited support because the negative P/E reflects losses and dividend yield data is unavailable.
Positive Factors
Revenue Expansion
Revenue expanded meaningfully from 2022–2025, including a very large 2025 year-over-year jump. Sustained top-line expansion can improve operating leverage and establish a broader base for future commercialization, although profitability remains unproven.
Negative Factors
Persistent Net Losses
Substantial net losses in every year indicate that the business has not yet demonstrated a sustainable earnings model. Continued losses can erode capital, restrict strategic flexibility, and increase dependence on financing or other sources of support.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Expansion
Revenue expanded meaningfully from 2022–2025, including a very large 2025 year-over-year jump. Sustained top-line expansion can improve operating leverage and establish a broader base for future commercialization, although profitability remains unproven.
Read all positive factors
TechStar Acquisition Corporation Class A (2665) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$2.76B
Dividend YieldN/A
Average Volume (3M)5.85M
Price to Earnings (P/E)―
Beta (1Y)0.26
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees708
SectorTechnology
Sector Strength88
IndustryAerospace & Defense
Share Statistics
EPS (TTM)N/A
Shares Outstanding1,312,204,300
10 Day Avg. Volume3,040,000
30 Day Avg. Volume5,849,929
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)8.67
Price to Sales (P/S)2.54
P/FCF Ratio-5.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$4.00Price Target Upside-55.51% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
TechStar Acquisition Corporation Class A Business Overview & Revenue Model
Company Description
Seyond Holdings Ltd. engages in the design, development, and production of automotive-grade LiDAR solutions. Seyond Holdings Ltd. was formerly known as Innovusion Holdings Ltd. The company was incorporated in 2016 and is based in Hong Kong....
How the Company Makes Money
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TechStar Acquisition Corporation Class A Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
28
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 25.30M | 154.44M | 159.57M | 121.11M | 66.30M |
| Gross Profit | 3.20M | 10.61M | -13.91M | -42.36M | -41.32M |
| EBITDA | -10.80M | -308.69M | -147.74M | -208.51M | -182.93M |
| Net Income | -14.81M | -328.54M | -160.78M | -218.97M | -188.16M |
Balance Sheet | |||||
| Total Assets | 215.83M | 264.01M | 176.67M | 254.28M | 218.43M |
| Cash, Cash Equivalents and Short-Term Investments | 87.75M | 133.05M | 44.01M | 123.31M | 113.13M |
| Total Debt | 34.50M | 71.02M | 44.00M | 52.71M | 27.65M |
| Total Liabilities | 161.45M | 218.85M | 1.15B | 828.90M | 580.09M |
| Stockholders Equity | 54.38M | 45.16M | -972.02M | -574.62M | -361.65M |
Cash Flow | |||||
| Free Cash Flow | -13.87M | -78.33M | -67.78M | -147.16M | -122.57M |
| Operating Cash Flow | -12.66M | -70.09M | -52.44M | -133.12M | -108.19M |
| Investing Cash Flow | 142.00K | -21.86M | -7.22M | -31.45M | -14.37M |
| Financing Cash Flow | -6.32M | 154.48M | 57.07M | 159.12M | 139.80M |
TechStar Acquisition Corporation Class A Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | HK$7.84B | 5.66 | 6.18% | 6.97% | -11.11% | 17.45% | |
69 Neutral | HK$8.42B | 10.03 | 6.27% | 0.48% | 21.47% | 0.61% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
55 Neutral | HK$9.56B | -7.11 | -42.58% | ― | 12468.80% | -3845.20% | |
46 Neutral | HK$10.85B | -2.39 | -16.46% | 1.39% | 2.56% | -1862.03% | |
41 Neutral | HK$2.76B | -0.24 | 70.89% | ― | ― | ― |
* Technology Sector Average
HK:2665
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TechStar Acquisition Corporation Class A Corporate Events
Seyond Holdings Doubles Revenue but Sees Equity Halve as Liabilities Climb
Aug 20, 2026
Seyond Holdings reported a sharp increase in revenue to US$138.7 million for the six months ended June 30, 2026, more than doubling the prior-year period, while gross profit also grew strongly to US$15.5 million. Despite narrowing its loss to US$2...
Seyond Taps AMSYS Partnership to Expand LiDAR-Powered Smart Infrastructure
Aug 19, 2026
Seyond Holdings Ltd. has entered a strategic partnership with AMSYS Group to integrate its high-precision LiDAR and three-dimensional sensing technologies with AMSYS’ multimodal AI and digital twin platforms. The collaboration targets public...
Seyond and Giga.AI Forge Strategic Freight Autonomy Partnership
Aug 4, 2026
Seyond Holdings Ltd., a Hong Kong-listed company, develops high-performance LiDAR and three-dimensional sensing solutions that underpin autonomous driving and intelligent logistics applications. Its technologies support advanced perception for fre...
Seyond Holdings Sets Board Meeting to Approve 2026 Interim Results
Aug 3, 2026
Seyond Holdings Ltd. has scheduled a board meeting for August 20, 2026, to review and approve the group’s interim results for the six months ended June 30, 2026. The board will also address the publication of these interim results and conduc...
Seyond Holdings Grants 16 Million Share Awards to Boost Talent Retention
Jul 17, 2026
Seyond Holdings Ltd. has granted 15,999,618 share awards, equal to about 1.22% of its issued share capital, to 109 grantees under its Post-Listing Share Incentive Plan. The awards, granted at nil purchase price with a reference share closing price...
Seyond Holdings Reports Mixed Outcomes in LiDAR Patent Fight With Hesai
Jul 14, 2026
Seyond Holdings has provided an update on four patent infringement lawsuits brought by rival Hesai Technology and its affiliates before the Ningbo Intermediate People’s Court in Zhejiang, all relating to LiDAR and light detection device tech...
Seyond LiDAR Shipments Surge as Applications Broaden Beyond Vehicles
Jul 6, 2026
Seyond Holdings reported strong unaudited LiDAR shipment growth in the second quarter of 2026, signalling rapid scaling of its core sensing technology business. The company, listed on Hong Kong’s main board, continues to leverage its Falcon,...
Seyond Holdings Major Shareholders Pledge Voluntary Share Price Lock-Up
Jun 24, 2026
Seyond Holdings announced that shareholders Honour Key Limited and Glory Summer Worldwide Limited, which together hold about 11.33% of the company’s issued shares, have voluntarily committed to a lock-up arrangement on part of their trading ...
Seyond Joins FTSE Global Equity Index Series, Boosting Global Market Profile
Jun 22, 2026
Seyond Holdings Ltd. announced that it will be added to the FTSE Global Equity Index Series, including the FTSE Global Micro Cap Index and the FTSE Global Total Cap Index, effective June 22, 2026. The FTSE framework covers more than 19,000 securit...
Seyond Holdings Shareholders Unanimously Approve AGM Resolutions and New Auditor
Jun 18, 2026
Seyond Holdings reported that all resolutions put to shareholders at its June 18, 2026 annual general meeting were approved by poll with overwhelming support, including the adoption of the 2025 audited financial statements and the re-election of e...
Seyond’s LiDAR Shipments Soar in Early 2026, Surpassing Full‑Year 2025
Jun 10, 2026
Seyond Holdings reported that its unaudited LiDAR shipments for the first five months of 2026 reached about 365,000 units, a 349% year‑on‑year jump that already surpasses its total 2025 shipments. The bulk came from Advanced Driver Ass...
Seyond Management Extends Lock-Up on 15.92% Stake to 2026
Jun 3, 2026
Seyond Holdings announced that several senior management members, including chairman and CEO Dr. Bao Junwei and executive director Li Yimin, have voluntarily extended the lock-up period on all their directly and indirectly held shares until Decemb...
Seyond Holdings to Launch HK$100 Million Share Buyback in June 2026
Jun 1, 2026
Seyond Holdings Ltd. has launched a share repurchase programme, authorising the buyback of up to HK$100 million of its own shares on the open market between June 2, 2026 and June 17, 2026 under a previously approved 10% repurchase mandate. The pur...
Seyond Sets 2026 AGM to Approve Results, Board Changes and Expanded Share Mandate
May 27, 2026
Seyond Holdings Ltd. has convened its annual general meeting for June 18, 2026, in Suzhou, China, where shareholders will be asked to receive and adopt the audited consolidated financial statements and the directors’ and auditor’s repo...
Seyond Holdings to Replace Deloitte With KPMG as Independent Auditor
May 22, 2026
Seyond Holdings Ltd. plans to change its independent auditor, with Deloitte Touche Tohmatsu set to retire after the upcoming annual general meeting and KPMG proposed as its replacement for the financial year ending December 31, 2026. The board, fo...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.