On the evening of August 22, as Banma Network Technology Co., Ltd. submitted its prospectus for listing on the Hong Kong Stock Exchange, the company's former Chief Financial Officer Xia Lian publicly voiced her criticism of the company through social media posts, stating she "does not see favorable prospects for the company's business development" and that "going public to raise money is not a life pursuit or ideal." She confirmed her departure from the company in April 2025.

Xia Lian commented that "while Banma's performance growth may not have met expectations over the past three years, compared to the next three years, these past three years were likely Banma's best period." In her view, cockpit technology without barriers can be developed in-house by automakers themselves.

Xia Lian emphasized that going public to raise funds was never her personal pursuit or ideal. Throughout her tenure at Banma Network Technology, she witnessed the company's journey from its initial 1.2 billion yuan funding round, the 6 billion yuan AliOS merger and restructuring, 3 billion yuan additional capital injection, 700 million yuan new equity financing, to completing the share reform. She stated that what sustained her through this journey was her belief in seeing projects through to completion and her idealistic pursuit of doing meaningful work with trustworthy people. When these values no longer existed, she was unwilling to compromise for the sake of an IPO fundraising effort.

"I deeply despise the character and conduct of certain Banma executives. I acknowledge your scheming and cunning, but I despise your character and values," Xia Lian stated. She mentioned that because some close friends have investments tied up in Banma, she was pleased that her departure helped reduce the company's valuation by 50%, expressing hope that "Banma with a 50% reduced valuation can help them successfully go public."