Company Overview - Xidi Intelligent Driving Technology Co., Ltd. (referred to as Xidi) has submitted an application to the Hong Kong Stock Exchange for a mainboard listing, with CICC, CITIC Securities International, and Ping An Securities (Hong Kong) as joint sponsors [1] - Xidi is an innovative product-driven 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][4] - The company ranks sixth among all intelligent driving commercial vehicle companies in China, holding a market share of approximately 5.2% [3] Financial Performance - Xidi's revenue for the fiscal years 2022, 2023, and 2024 was approximately RMB 31.06 million, RMB 133 million, and RMB 410 million, respectively, with a projected revenue of RMB 258 million for the first half of 2025 [5] - The company recorded losses of RMB 263 million, RMB 255 million, and RMB 581 million for the fiscal years 2022, 2023, and 2024, respectively, with a loss of RMB 122.57 million for the first half of 2025 [6][9] - The gross profit margin improved from -19.3% in 2022 to 24.7% in 2024, attributed to increased margins from autonomous driving and the introduction of intelligent perception revenue [9] Market Position and Strategy - Xidi delivered 56 autonomous mining trucks to a mining area in China, creating the world's largest mixed-operation mining fleet with approximately 500 manned trucks [3] - The company is recognized as one of the first in China to commercialize V2X products, utilizing proprietary fleet management and coordination technology [3] - As of June 30, 2025, Xidi had served 152 clients and delivered 304 autonomous mining trucks, with indicative orders for an additional 357 trucks [4] 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, expected to maintain stable growth [11] - The autonomous mining truck solutions market in China is rapidly expanding, with a market size of RMB 1.9 billion in 2024, projected to grow to RMB 39.6 billion by 2030, representing a compound annual growth rate of 65.3% [11][13] - The total shipment of autonomous mining trucks in China is expected to reach approximately 1,400 units in 2024, increasing to over 16,000 units by 2030 [13][14]
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 12:39