年入2.5亿！自动驾驶卡车企业主线科技赴港IPO，李德毅院士任首席科学家

Core Viewpoint - The company, Mainline Technology (Beijing) Co., Ltd., has submitted its IPO application to the Hong Kong Stock Exchange, with Guotai Junan International as the sole sponsor [1][7]. Company Overview - Mainline Technology is a provider of L4 autonomous driving trucks and solutions, featuring a self-developed autonomous driving system that integrates AiTruck (smart trucks), AiBox (smart terminals), and AiCloud (smart cloud services) into a "vehicle-terminal-cloud" ecosystem [2][11]. - The company's solutions are strategically deployed in three core business scenarios: Trunk Port (logistics hub), Trunk Pilot (highway logistics), and Trunk City (urban traffic) [2][8]. Business Performance - As of December 5, 2025, the company has delivered a total of 830 AiTruck units and 349 AiBox sets, with 821 AiTruck and 920 AiBox units in intention orders [2][8]. - According to Frost & Sullivan, Mainline Technology is the largest L4 autonomous driving truck and solution provider in closed road scenarios in China, with significant commercial success [3][12]. Financial Data - Revenue has increased from 112.36 million yuan in 2022 to 254.09 million yuan in 2024, representing a compound annual growth rate (CAGR) of 50.4% [4][10]. - The gross margin has improved significantly from 3.7% in 2022 to 30.3% in the first half of 2025, indicating potential profitability as the company scales [4][10]. - Despite not being profitable yet, the company's losses have narrowed from 278.17 million yuan in 2022 to 187.18 million yuan in 2024, with a loss of 96.39 million yuan in the first half of 2025 [4][10]. Market Outlook - The commercial vehicle autonomous driving sector is expected to experience explosive growth, with the market for closed road solutions projected to grow from 1.3 billion yuan in 2024 to 26.2 billion yuan by 2030, at a CAGR of 65.8% [6][13]. - The open road scenario market is anticipated to surge from 2.3 billion yuan to 160.6 billion yuan, with a staggering CAGR of 103.7% [6][13]. - Policy support from the government, including the "Artificial Intelligence +" action plan, positions autonomous driving as a key focus area, providing institutional backing for companies like Mainline Technology [6][13].