Core Viewpoint - The partnership between Autocraft and Shide Technology marks a significant step for "Chinese manufacturing" to expand overseas, particularly in the eVTOL sector, showcasing the potential for international collaboration in technology under the Belt and Road Initiative [2][6]. Group 1: Partnership Details - Autocraft, an Emirati company, signed a procurement agreement with Shide Technology on July 16, with an order value of $1 billion for 350 units of the E20 eVTOL [2][4]. - The collaboration aims to promote the commercialization of E20 eVTOL in the Middle East and North Africa, focusing on low-altitude tourism and air travel [2][4]. Group 2: Product and Technology - The E20 eVTOL, developed by Shide Technology, features a tilt-rotor design that combines vertical takeoff and landing capabilities with efficient cruising performance, making it suitable for intercity and urban travel [4]. - Shide Technology emphasizes technological innovation to drive sustainable development in air transportation, highlighting its advantages in safety, economy, and adaptability [4]. Group 3: Strategic Implications - The $1 billion order represents a critical breakthrough for E20 eVTOL's overseas expansion and serves as a model for Sino-Arab technological cooperation under the Belt and Road Initiative [6]. - The CEO of Shide Technology, Huang Yongwei, stated that this partnership demonstrates the company's global deployment capabilities and aims to provide reliable air transportation solutions to global users, showcasing China's strength in low-altitude technology [6].

Core Insights - The company, 如祺出行, reported a total revenue of 2.463 billion RMB for the year 2024, marking a 14% year-on-year growth, with a significant increase in gross margin by 80% [1][2] - The company aims to expand its ride-hailing and Robotaxi services internationally, improve operational efficiency, and enhance the Robotaxi experience [1] Revenue Growth - The core business revenue from ride-hailing and Robotaxi services reached 2.199 billion RMB, reflecting a 21.2% increase year-on-year [2] - The registered user base grew to 34.5 million, a 45% increase, while the total ride service orders reached 113 million, up 15.7% year-on-year [2] - Overall transaction volume increased by 8.7% to 2.979 billion RMB, driven by the rise in order volume [2] Profitability Improvement - The gross profit margin improved significantly, with a year-on-year increase of 80%, and gross profit improved by 76.5%, leading to an 18.6% increase in profit [2] - Factors contributing to the margin improvement include increased technology service revenue, reduced incentives for customers and drivers, and enhanced operational efficiency [2] Investment in Autonomous Driving - The company invested 140 million RMB in R&D for Robotaxi and operational areas, a year-on-year increase of 18.8% [3] - The operational range of Robotaxi services expanded from Nansha, Guangzhou to Baoan and Nanshan in Shenzhen, and other areas [3] - As of February 2025, the company operated over 300 Robotaxi vehicles, covering more than 2 million kilometers in the Greater Bay Area [3] Low-altitude Travel Services - The company is exploring low-altitude travel service operations, including flying cars, to create a comprehensive intelligent travel platform [5] - The partnership with GAC Group aims to leverage data services for advanced autonomous driving model development [4]