3 6 Ke·2025-12-12 04:18Core Viewpoint - The company, Mainline Technology, has submitted its IPO application, marking its entry into the capital market as a leading provider of L4 autonomous trucks in China, particularly in port scenarios [3][23]. Financial Performance - Mainline Technology reported a revenue increase from 112 million yuan in 2022 to 254 million yuan in 2024, with a compound annual growth rate (CAGR) of 50.4%. In the first half of 2025, revenue reached 99 million yuan [4][6]. - The company has incurred losses exceeding 600 million yuan over three years, with losses decreasing from 278 million yuan in 2022 to 187 million yuan in 2024. The loss for the first half of 2025 was 96.4 million yuan [4][7]. - Gross profit has shown significant improvement, rising from 4.2 million yuan in 2022 to 57.6 million yuan in 2024, with a CAGR of 272.0%. The gross margin increased from 3.7% in 2022 to 22.7% in 2024, reaching 30.3% in the first half of 2025 [7][6]. Business Operations - Mainline Technology has established a comprehensive product ecosystem centered around its self-developed autonomous driving system, providing full-stack solutions for logistics transportation [15][19]. - The company has delivered 830 intelligent trucks and 349 intelligent terminals, with nearly 100 million kilometers of intelligent transport mileage, of which over 95% is attributed to autonomous driving [14]. Market Position - Mainline Technology holds the leading market share in closed-road scenarios, such as ports, making it the largest provider of L4 autonomous trucks and solutions in China based on product sales revenue in 2024 [22]. Leadership and Team - The company is led by Zhang Tianlei, a PhD from Tsinghua University with nearly 20 years of experience in autonomous driving technology, having previously worked at major tech companies like Microsoft and Baidu [10][8]. Funding and Valuation - Following a strategic financing round in September 2025, Mainline Technology's post-financing valuation reached 3.86 billion yuan. The company has secured multiple rounds of financing since its inception in 2017 [12][13].