重卡新势力DeepWay深向拟赴港上市 “正向定义”基因勾勒自动驾驶商业版图

Core Viewpoint - DeepWay has officially submitted its IPO application to the Hong Kong Stock Exchange, becoming the first heavy-duty electric truck company in China to do so, with plans to use the funds for technology development, sales network expansion, and infrastructure growth [1][2]. Company Overview - Founded in 2020, DeepWay focuses on creating intelligent electric heavy-duty trucks and solutions tailored for various road freight scenarios, breaking away from traditional "oil-to-electric" models [2][3]. - The company has developed innovative technologies such as integrated battery chassis and distributed drive systems, significantly improving energy efficiency and safety [3][4]. Technological Advantages - DeepWay's integrated chassis and battery design enhance cargo volume by 9.6%, while its distributed drive system increases energy conversion efficiency by 14%, expanding the application of electric trucks in long-haul transport [3][4]. - The company aims to achieve self-research and development of its three electric systems by 2025, which will lower costs and improve profit margins [3][6]. Market Performance - DeepWay's revenue has shown significant growth, with projected revenues of 4.26 billion yuan in 2023, 19.69 billion yuan in 2024, and 15.06 billion yuan in the first half of 2025, primarily from electric truck sales [6][7]. - The company has expanded its customer base, adding 187 new clients in 2024 and 92 in the first half of 2025, with total deliveries reaching approximately 6,400 trucks [6][7]. Strategic Initiatives - DeepWay is constructing a smart factory in Huzhou, which is expected to produce enough components for about 50,000 vehicles annually, aiming to reduce manufacturing costs significantly [7][8]. - The company is also focusing on expanding its presence in international markets, establishing sales networks in countries like Singapore, Thailand, and Australia [8][9]. Industry Trends - The electric heavy-duty truck market in China is experiencing rapid growth, with a reported 198% year-on-year increase in sales, indicating a shift from policy-driven to market-driven growth [9][10]. - The penetration rate of electric trucks is expected to rise significantly, supported by decreasing battery prices and improved operational efficiencies [10][11]. Future Outlook - By 2030, the penetration rate of electric heavy-duty trucks in China is projected to reach 53.5%, with a market size of 255.8 billion yuan, reflecting a compound annual growth rate of 33.3% [11][12]. - DeepWay plans to continue product iteration and expand its offerings to meet diverse customer needs across various freight scenarios, solidifying its market position [11][12].