CCAC - Quanergy to be merged with CITIC Capital Acquisition provides Q3 prelim

Quanergy Systems, provider of OPA-based solid state LiDAR sensors and smart 3D solutions for automotive and IoT, estimates Q3 prelim revenue to be $1.137M (+20% Y/Y, +26% Y/Y) driven by improving demand for the company’s flow management solutions. Q3 ended with $34.2M in cash and equivalents. FY revenue seen at $3.6M. The company also announced today that its OPA-based solid-state LiDAR technology has successfully achieved a 160 meter detection range in outdoor bright sunlight conditions. "The innovative OPA-based LiDAR architecture from Quanergy has been capturing the interest of automakers, AV companies, and Tier 1 suppliers since its inception," co-founder and chief development officer Dr. Tianyue Yu commented. In the past two years, Quanergy's solid-state platform development has rapidly evolved, with the next milestones expected to be announced at CES 2022. In June, Quanergy entered into a definitive merger agreement with CITIC Capital Acquisition (NYSE:CCAC) wherein the combined company will be named Quanergy Systems

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Quanergy, to be merged with CITIC Capital Acquisition, provides Q3 prelim