Core Viewpoint - DeepX Technology, referred to as the "Tesla of trucks," has submitted an IPO application to the Hong Kong Stock Exchange, aiming to become the first heavy-duty truck new force to list in Hong Kong. The company plans to use the net proceeds from the IPO for R&D, enhancing sales and after-sales service networks, infrastructure expansion, and general corporate purposes [1][2]. Group 1: Company Overview - Founded in December 2020, DeepX Technology focuses on the commercial application of electric and intelligent technologies in the heavy-duty truck sector, targeting the trunk road freight market, which accounts for over 50% of transportation capacity [3][4]. - The global road freight market is projected to reach $3.9 trillion by 2024, with China's new energy heavy-duty truck penetration expected to reach 53.5% by 2030, resulting in a market size of 255.8 billion yuan and a compound annual growth rate of 33.3% [2][3]. Group 2: Financial Performance - DeepX Technology has reported cumulative losses exceeding 1.7 billion yuan since its inception, with significant financial pressures evident in its income statements. The company generated revenues of 0, 426 million yuan, 1.97 billion yuan, and 1.51 billion yuan over the past three years, with gross margins significantly below traditional heavy-duty truck manufacturers [6][9]. - The company’s revenue is highly concentrated, with nearly all income derived from the sales of its new energy heavy-duty truck model, "DeepX Star," which accounted for 99.9% of revenue in 2023 [11][12]. Group 3: Operational Risks - DeepX Technology faces operational risks due to a high dependency on a single model for revenue generation and a concentrated supply chain, with 92.3% of procurement coming from the top five suppliers [11][12]. - The company has been reported to have overlapping relationships between its major customers and suppliers, which complicates its business model and raises concerns about operational independence [12][13]. Group 4: Market Competition - The competitive landscape for DeepX Technology is intensifying, with traditional OEMs transitioning to electrification and new tech companies focusing on vehicle intelligence and new energy technologies. Competitors include established heavy-duty truck manufacturers and tech-driven firms providing powertrain systems and intelligent driving solutions [13][14]. - The company must navigate challenges related to product performance, cost-effectiveness, and the infrastructure for charging and energy supply, as competition in these areas is expected to escalate [14].

"曜灵Ⅱ"车型采用面向未来的前瞻设计，通过背车转运模式、中置轴设计、全天候运营等模式和维度， 致力于打造极致运输效率且更具盈利能力的智能运输车。 "曜灵Ⅱ"车型具备多种灵活调度模式，可以根据货源分布、道路状况及任务优先级，进行运输、甩箱、 背运等多种模式的灵活切换与匹配，大幅压缩等货时间。针对空载运营，"曜灵Ⅱ"车型的相关模式能够 将原本的三辆空驶返程车辆，变为一辆母车重载行驶、两辆子车作为"货物"被运输，从而节约空载燃料 费和路桥费。此外，"曜灵Ⅱ"车型采取独特的"无驾驶舱+中置轴"设计，能够在法规范围内尽可能扩大 货箱空间，相比牵引车，载货空间增大38%。 据了解，目前质子汽车已形成覆盖200余个场景的新能源产品矩阵，并在固态底盘、镁合金轻量化挂 车、超材料等技术领域开创国内先河。 中证报中证网讯(记者王辉)8月13日，陕汽集团孵化的新能源商用车核心平台——质子汽车在上海发 布"曜灵Ⅱ"智能重卡概念车型。 ...