（於中華人民共和國註冊成立之股份有限公司） （股份代號：3881） 2026年第一次臨時股東會通告 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任 何 損 失 承 擔 任 何 責 任。 CiDi Inc. 希迪智駕科技股份有限公司 茲 通 告 希 迪 智 駕 科 技 股 份 有 限 公 司（「本公司」）謹 訂 於2026年2月13日（星 期 五）上 午 十 時 正 假 座 中 國 湖 南 省 長 沙 市 嶽 麓 區 學 士 路336號湖南省檢驗檢 測特色產業園A3及A4棟之會議室及透過電子投票系統以混合方式舉行 之2026年 第 一 次 臨 時 股 東 會（「大 會」），以 考 慮 及 酌 情 通 過 以 下 決 議 案（不 論 有 否 修 訂）： 特別決議案 1. 「動 議： 待本公司日期為2026年1月27日 的 通 函（註 有「A」字 樣 的 副 本 已 提 呈 大 會 並 由 大 會 授 權 董 事 簽 署 以 ...

此乃要件 請即處理 閣下如對本通函任何方面或應採取之行動有任何疑問，應諮詢 閣下之股票經紀或其他 註冊證券交易商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已將名下之希迪智駕科技股份有限公司股份全部售出或轉讓，應立即將本通函送 交經手買賣或轉讓之銀行、股票經紀或其他代理商，以便轉交買主或承讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本通函全部或任何部分內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 (1) 建議股份拆細及相應修訂公司章程； (2) 建議更改每手買賣單位； 及 (3) 2026年第一次臨時股東會通告 本公司謹訂於2026年2月13日（星期五）上午十時正假座中國湖南省長沙市嶽麓區學士路 336號湖南省檢驗檢測特色產業園A3及A4棟之會議室及透過電子投票系統以混合方式舉 行2026年第一次臨時股東會，召開大會之通告載於本通函內。本通函亦隨附2026年第一 次臨時股東會（或其任何續會）適用之代表委任表格。 無論 閣下是否有意出席2026年第一次臨時股東會，務請盡快將隨附之代表委任表格按 其 ...

Core Viewpoint - The company, Xidi Zhijia (03881), announced a proposal to split its existing shares with a par value of RMB 1 into 10 shares with a par value of RMB 0.1 each, reflecting a significant change in its capital structure [1] Group 1 - The board of directors recommends the share split to adjust the company's capital structure [1] - Following the share split, the company's articles of association will be amended to reflect the changes in share capital [1] - Currently, the company's H shares are traded in units of 10 shares on the Hong Kong Stock Exchange, which will change to 100 shares post-split [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任 何 損 失 承 擔 任 何 責 任。 CiDi Inc. 希迪智駕科技股份有限公司 （於中華人民共和國註冊成立之股份有限公司） （股份代號：3881） (1)建 議 股 份 拆 細 及 相 應 修 訂 公 司 章 程； 及 (2)建議更改每手買賣單位 建議股份拆細及相應修訂公司章程 董 事 會 建 議，將 本 公 司 股 本 中 每 股 面 值 人 民 幣1元之現有已發行股份拆 細 為 十(10)股每股面值人民幣0.1元 之 拆 細 股 份。股 份 拆 細 將 於 下 文「股 份 拆 細 之 條 件」一 節 所 載 條 件 達 成 後 生 效。於 股 份 拆 細 完 成 後，本 公 司 將 相 應 修 訂 公 司 章 程，以 反 映 本 公 司 股 本 變 動 情 況。 建議更改每手買賣單位 於 本 公 告 日 期，本 公 司H股以每手10股H股 的 買 賣 單 位 於 聯 ...

Summary of the Conference Call for Xidi Zhijia Company Overview - **Company**: Xidi Zhijia - **Industry**: Autonomous Driving in Mining Sector Key Points and Arguments 1. **Product Offerings**: Xidi Zhijia has developed autonomous mining trucks, heavy-duty trucks, and rail transit vehicles, significantly reducing operational costs for mine owners by replacing drivers and saving hundreds of thousands in annual salaries [2][4][6]. 2. **Market Deployment**: The company has successfully deployed autonomous and manned vehicle operations in large coal mines in Northwest China, addressing the gradual replacement of traditional vehicles and increasing order volumes, with expectations of reaching 100 units per order by 2025 [2][4][5]. 3. **Revenue Growth**: Revenue is projected to grow from over 30 million yuan in 2022 to 410 million yuan in 2024, with expectations of nearing 1 billion yuan in total revenue for 2025, maintaining a gross margin of 20%-25% [2][8]. 4. **Technological Edge**: The company possesses a full-stack autonomous driving technology, multi-agent algorithms, metaverse simulation technology, and self-manufacturing capabilities, operating under a light-asset model to help operators save costs and improve efficiency [2][9]. 5. **Future Growth**: Xidi Zhijia anticipates rapid growth in the next two years, particularly in the autonomous mining truck sector, aiming to become China's first profitable autonomous driving company by the end of 2026 while expanding into overseas markets like Australia and Saudi Arabia [3][9]. 6. **Regulatory Support**: The mining sector's high-risk and high-pollution environment has led to strong policy support for automation, making it a promising area for autonomous driving technology [4][6]. 7. **Market Potential**: The autonomous mining vehicle market is expected to grow significantly, with regulations mandating a high degree of automation in new mining operations by 2027. The market for unmanned wide-body trucks alone could reach 80 billion yuan if 80% of new vehicles are automated [14]. 8. **International Projects**: The company is involved in international projects, including the China-Vietnam border crossing and bulk material transport in Mongolia, indicating a strong international presence and growth potential [8][19]. 9. **Unique Business Model**: Xidi Zhijia adopts a product sales model rather than owning vehicles, ensuring product quality and fostering long-term partnerships with clients [17]. 10. **Challenges and Solutions**: The company addresses challenges in autonomous driving, such as technology maturity, policy acceptance, and cost-effectiveness, by focusing on high reliability and significant cost savings in mining operations [6][12]. Additional Important Content - **Differentiation from Competitors**: The company emphasizes its unique advantages, including comprehensive technology, strong R&D capabilities, and a light-asset operational model, which positions it favorably against competitors [11][12]. - **Future Directions**: Beyond mining, the company is exploring autonomous applications in large infrastructure projects and energy management, indicating a broader vision for its technology [22]. - **Accounts Receivable Management**: The company has learned from past experiences with financing defaults and is implementing stricter management of accounts receivable to mitigate risks [21]. This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Xidi Zhijia's position in the autonomous driving market, particularly within the mining sector.

Group 1 - The core viewpoint of the report is that Xidi Zhijia (03881) is rated as "Buy" by Dongwu Securities, with expected revenue growth driven by the increasing orders for unmanned mining trucks, leading to a turnaround in net profit [1] - The company is a leading intelligent driving technology platform focused on unmanned mining trucks, founded in 2017 by Professor Li Zeshang, known as the "father of DJI" [1] - Revenue projections for the company from 2025 to 2027 are 1.078 billion yuan, 2 billion yuan, and 4.05 billion yuan, representing year-on-year increases of 162.90%, 85.53%, and 102.47% respectively [1] Group 2 - The company provides a comprehensive solution for unmanned mining, integrating intelligent driving and V2X technologies, which can be promoted to other application scenarios [2] - Following the mining accident in Inner Mongolia in 2023, national policies are pushing for automation in mining, with a target for 60% of coal mining capacity to be intelligent by 2026, benefiting the company as a leading supplier [2] - The Chinese smart driving commercial vehicle market is expected to reach 4.8 billion yuan by 2024 and grow to 774.3 billion yuan by 2030, driven by favorable policies and continuous technological advancements [2] Group 3 - The company is a domestic leader in V2X intelligent transportation solutions, utilizing advanced perception technology and algorithms for traffic optimization [3] - The V2X solutions enable information exchange between traffic participants and urban infrastructure, facilitating intelligent traffic prediction and decision-making [3] - The V2X market in China is projected to reach 2 billion yuan by 2024, with a compound annual growth rate of 50.9% from 2024 to 2030, indicating rapid growth in the coming years [3]

Group 1 - The core viewpoint of the report is that Xidi Zhijia (03881) is rated as "Buy" by Dongwu Securities, with expected revenue growth driven by the increasing orders for unmanned mining trucks, leading to a turnaround in net profit [1] - The company is a leading global provider of intelligent driving hard technology products, focusing on unmanned truck technology for closed scenarios, and is founded by Professor Li Zexiang, known as the "father of DJI" [1] - The company integrates autonomous driving and V2X technology, enhancing operational efficiency and safety in closed environments such as mines and enclosed parks [1] Group 2 - The company offers a comprehensive solution for unmanned mining, combining intelligent driving and V2X technologies, which can be adapted to other applications [2] - Following a mining accident in Inner Mongolia, national policies are promoting automation in mining, with a target for 60% of coal mines to be intelligent by 2026, benefiting the company as a leading supplier of intelligent mining solutions [2] - The Chinese market for commercial intelligent driving vehicles is projected to reach RMB 48 billion by 2024, with significant growth expected to RMB 7,743 billion by 2030 [2] Group 3 - The company is a leading provider of V2X intelligent traffic solutions, utilizing advanced perception technology and algorithms for traffic optimization [3] - The V2X solutions facilitate information exchange between traffic participants and infrastructure, enabling smart traffic predictions and decisions [3] - The V2X market in China is expected to experience rapid growth, with a projected market size of RMB 238 billion by 2030 and a compound annual growth rate of 50.9% from 2024 to 2030 [3]

Core Insights - The delivery of 40 autonomous mining trucks equipped with Xidi Zhijia's self-developed full-stack autonomous driving system marks a significant milestone in the smart mining sector, demonstrating the technology's maturity and reliability in extreme environments [1][3] - The collaboration between Xidi Zhijia and Zoomlion Heavy Industry has created a local industry synergy model, contributing to the development of the advanced manufacturing cluster in Changsha [1] Group 1 - The project is located in a major coal mine that is a core production reserve for Xinjiang's "coal transportation out of Xinjiang" strategy, which is crucial for national energy security [3] - The 40 autonomous trucks are integrated with Xidi Zhijia's autonomous driving system and have commenced continuous 24-hour operations in stripping projects [3] Group 2 - The extreme cold conditions, with winter temperatures approaching -30°C, pose significant challenges such as sensor failures and battery performance degradation [5] - Xidi Zhijia has upgraded hardware configurations to include low-temperature sensors and custom heating protection modules to ensure stable operation in extreme cold [7] Group 3 - To address dust interference, Xidi Zhijia employs a multi-redundant perception solution that combines LiDAR, millimeter-wave radar, and visual sensors, along with proprietary dust filtering algorithms for accurate environmental recognition [7] - The successful implementation of large-scale autonomous cluster operations in the mining area is facilitated by Xidi Zhijia's self-developed cluster scheduling system, which optimizes routes and coordinates vehicle operations to enhance efficiency and safety [9] Group 4 - The project exemplifies Xidi Zhijia's robust engineering capabilities and deep understanding of mining applications, accelerating the penetration of autonomous driving technology into the mining sector [9]

Core Insights - The delivery of 40 autonomous mining trucks equipped with Hidi Intelligent Driving's self-developed system marks a significant milestone in the large-scale implementation of autonomous technology in smart mining [1][3] - This project is crucial for the "Xinjiang Coal Transportation" strategy, emphasizing the importance of advanced technology and system stability in extreme operational environments [3] Group 1 - The autonomous mining trucks have been successfully deployed in a harsh environment, demonstrating the reliability and maturity of Hidi Intelligent Driving's technology [1][5] - The ZT160HEV hybrid mining trucks are integrated with Hidi's autonomous driving system and are now operational for continuous 24-hour efficient work [3][5] - Hidi Intelligent Driving has addressed extreme cold challenges by upgrading hardware with low-temperature sensors and custom heating modules, ensuring stable operation at temperatures as low as -30°C [7] Group 2 - The company has implemented a multi-redundant perception solution that combines LiDAR, millimeter-wave radar, and visual sensors, along with a self-developed dust filtering algorithm to enhance environmental recognition in dusty conditions [7][9] - Hidi's autonomous driving system features a cluster scheduling system that optimizes the driving routes of each truck based on real-time conditions, significantly improving transportation efficiency and reducing labor costs and safety risks [9] - The successful deployment of large-scale autonomous operations in the mining sector is a key step towards advancing traditional mining into a safer, more efficient, and low-carbon intelligent era [9]

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1]. Core Insights - The company is a global leader in intelligent driving hard technology products, focusing on autonomous mining trucks and V2X technology, aiming to enhance safety and efficiency in closed environments [8][13]. - The company is expected to benefit from national policies promoting automation in mining, with a projected increase in revenue driven by the growth of autonomous mining truck orders [8][49]. - The report forecasts significant revenue growth, with total revenue expected to reach RMB 1.08 billion in 2025, RMB 2 billion in 2026, and RMB 4.05 billion in 2027, reflecting year-on-year growth rates of 162.90%, 85.53%, and 102.47% respectively [1][8]. Summary by Sections 1. Company Overview - The company was founded in 2017 by Professor Li Zexiang and is recognized as a leading provider of intelligent driving hard technology products [8][13]. - It specializes in autonomous mining trucks and logistics vehicles, as well as V2X technology and intelligent perception solutions [17]. 2. Autonomous Mining Truck Solutions - The company has developed a comprehensive solution for autonomous mining, integrating intelligent driving and V2X technologies, which is applicable to various scenarios [8][37]. - Following a significant mining accident in Inner Mongolia, national policies have accelerated the push for automation in mining, with a target of 60% intelligent capacity in coal mines by 2026 [8][44]. 3. V2X Intelligent Transportation Solutions - The company is a leading provider of V2X intelligent transportation solutions, which enhance traffic safety and efficiency through advanced perception technology and communication functions [77][81]. - The V2X market in China is expected to grow rapidly, with a projected market size of RMB 238 billion by 2030, reflecting a compound annual growth rate of 50.9% from 2024 to 2030 [85]. 4. Financial Projections - The report anticipates that the company will achieve a turnaround in net profit by 2025, with projected net profits of RMB -268.79 million in 2025, RMB 102.72 million in 2026, and RMB 627.06 million in 2027 [1][8]. - The company's revenue growth is primarily driven by the increasing volume of autonomous mining truck orders and accelerated delivery [8][49].