Core Viewpoint - Xidi Intelligent Driving Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with CICC, CITIC International, and Ping An Securities (Hong Kong) as joint sponsors. The company previously submitted an application on May 8, 2025 [1]. Company Overview - Xidi Intelligent Driving is an innovative supplier of intelligent driving products and solutions for commercial vehicles in China, focusing on autonomous mining and logistics vehicles, V2X technology, and intelligent perception solutions [3]. - The company ranks sixth among all intelligent driving commercial vehicle companies in China, holding a market share of approximately 5.2%. In 2024, the company's product sales revenue in the intelligent driving commercial vehicle market is estimated to be around RMB 250 million, accounting for about 16.8% of the market share [3]. Business Strategy and Client Base - The company's unique business strategy and full-stack technical capabilities position it as a market innovator for large-scale commercialization. As of June 30, 2025, Xidi Intelligent Driving has served 152 clients and delivered 304 autonomous mining trucks [4]. Financial Performance - Revenue for Xidi Intelligent Driving in the fiscal years 2022, 2023, and 2024 was approximately RMB 31.06 million, RMB 133 million, and RMB 410 million, respectively. The revenue growth is attributed to increased sales of autonomous driving solutions in closed environments [5]. - The company recorded losses of RMB 263 million, RMB 255 million, and RMB 581 million for the fiscal years 2022, 2023, and 2024, primarily due to ongoing R&D investments and increasing financial costs [6]. Profitability Metrics - The gross profit margins for the years 2022, 2023, and 2024 were -19.3%, 20.2%, and 24.7%, respectively. The increase in gross margin from 2023 to 2024 is due to improved margins from autonomous driving and the introduction of intelligent perception revenue [8]. Industry Overview - The mining industry is a crucial pillar of the national economy, with a projected output value of RMB 4.5 trillion in 2024. The introduction of intelligent driving technology is expected to address safety concerns and operational efficiency in mining operations [10]. - The market for autonomous mining truck solutions in China is rapidly expanding, with an estimated market size of RMB 1.9 billion in 2024, expected to grow to RMB 39.6 billion by 2030, reflecting a compound annual growth rate of 65.3% from 2024 to 2030 [10][12].
新股消息 | 希迪智驾再度递表港交所 国内自动驾驶矿卡解决方案市场排名第一
Zhi Tong Cai Jing·2025-11-11 10:35