According to news from MBMC Meishun, Hengdao Travel recently completed a Series C financing round of over RMB 1.3 billion, marking the largest single financing in China's travel industry over the past three years. It is worth noting that Hengdao Travel has officially launched its Hong Kong Stock Exchange IPO plan. In terms of investors, the Series A round included Alibaba, CATL (Contemporary Amperex Technology Co., Limited) and other investors, the Series B round included Momenta, AutoNavi and other investors, and this round is backed by industrial funds and local governments. "This is not only the injection of capital funds, but also the in-depth connection of industrial resources," said Ni Licheng, CEO of Hengdao Travel. The three completed rounds of financing correspond to the three development stages of the company: data empowerment, technological breakthroughs and ecological construction, promoting the formation of a spiral upward development path of "technology - scenario - ecology", demonstrating the company's strategic foresight in accurately capturing industrial opportunities. Currently, Hengdao Travel operates along three parallel main lines: personal travel, corporate travel and future travel. In terms of personal travel, Hengdao Travel's online car-hailing business has established service networks in nearly 100 cities across the country, with an average annual compound growth rate of nearly 30% in business scale during the 14th Five-Year Plan period. In terms of corporate travel, "Hengdao Car Rental", the corporate travel service brand under Hengdao Travel, has deployed services in more than 150 cities, with a fleet scale of over 25,000 vehicles, serving more than 5,000 enterprise customers, including over 300 Fortune Global 500 companies. In terms of future travel, since Hengdao Robotaxi officially launched operations in 2021, it has completed more than 330,000 orders, with over 48,000 pickup and drop-off points, and accumulated a total driving mileage of over 2.5 million kilometers. Among them, Hengdao Robotaxi is an important part of SAIC Group's intelligent travel ecosystem. Going forward, Hengdao Travel will further leverage the advantageous resources of SAIC Group and industrial partners, and jointly build a L4-level Robotaxi fleet in Shanghai with its shareholder Momenta. The company plans to expand the fleet to 200 vehicles by 2026, promoting the sustainable and high-quality implementation of Robotaxi commercial operations, and actively advancing the "technology equality" that makes high-end technologies accessible to the general public. Upon completion of the Series C financing, Hengdao Travel will further lead the in-depth transformation of the urban future travel ecosystem from three dimensions: deepening technology-driven development, improving service quality and expanding diversified scenarios. © 2021 Meishun (Hong Kong) Management Consulting Co., Ltd. and Meishun (Hangzhou) Management Consulting Co., Ltd. All rights reserved. Meishun Meiyin (Hangzhou) Consulting Management Co., Ltd. is the domestic subsidiary of Hong Kong Meishun Management Consulting Company under the same actual controller. Both companies share the same ultimate beneficial owner and fall under the same Chinese management framework. The companies comply with the laws of Hong Kong and mainland China.