Asia Tech Wire (June 14) -- Guangzhou Automobile Group (2238.HK, GAC)'s ride-hailing platform Ruqi has received approval from China's securities regulator for its Hong Kong IPO plan.

The China Securities Regulatory Commission (CSRC) on Thursday issued a filing notice for the listing of Chenqi Technology Limited (commonly known as Ruqi Mobility) in an overseas offering.

Ruqi intends to issue up to 35,706,400 overseas-listed ordinary shares and list them on the Hong Kong Stock Exchange, according to the notice.

Following its filing in August last year, the company resubmitted its application for a main board listing to the Hong Kong Stock Exchange at the end of March, with CICC, Huatai International and ABC International as joint sponsors.

Founded in 2019, Ruqi also received support from Tencent at its inception. And Tencent and GAC are further deepening their partnership, including in the areas of intelligent cockpit and the ride-sharing platform.