Analysis of the financial status of PATEO Internet of Vehicles Technology in the past three years

According to the prospectus, Botai Automotive Networking Technology's revenue will increase from RMB 864 million to RMB 1.218 billion and then to RMB 1.496 billion between 2021 and 2023, with year-on-year growth rates of 41.0% and 22.8%, respectively. However, the company's net losses in these three years were RMB 372 million, RMB 452 million and RMB 284 million, respectively, and its adjusted net losses were RMB 323 million, RMB 391 million and RMB 218 million, respectively.