Chinese car tech start-up iMotion saw its stock end nearly 13% listed below its going public cost on Wednesday in an underwhelming Hong Kong launching, showing financiers’ issues about its heavy dependence on a single customer in a competitive market. The Suzhou-headquartered business has actually been a partner to Intel’s Mobileye considering that early 2018 and helped with the adoption of Mobileye’s SuperVision advanced driver-assist system on electrical lorries introduced by Geely-owned electrical automobile brand name Zeekr because late 2021. The company’s present earnings design relies greatly on Geely, from which it creates approximately 95% of its earnings throughout the very first half of 2023, making it subject to the danger of instant instability from the loss of its single most significant customer. Over the duration, the business published income of RMB 543 million ($76 million) on a bottom line of RMB 100 million, while anticipating losses to continue in the foreseeable future.[[Caixin, in Chinese]