Core Viewpoint - DeepWay has made a significant breakthrough in the electrification and intelligence of logistics along the Sichuan-Tibet route by signing a contract for 100 units and delivering 50 intelligent new energy heavy trucks, marking a key milestone in green logistics development in high-altitude areas [1][5]. Group 1 - The signing and delivery event took place in Ya'an, Sichuan, with key leaders and guests witnessing the occasion, highlighting the importance of this partnership for logistics in high-altitude and complex road conditions [1]. - The Sichuan-Tibet route, where the delivery occurred, is a critical logistics hub with challenging conditions, including high altitudes of up to 4,298 meters, which pose significant challenges for heavy truck transportation [1]. - DeepWay's intelligent electric drive bridge offers significant energy consumption advantages, while the 800V high-voltage platform provides fast and stable recharging, enhancing the efficiency and reliability of green logistics in these challenging environments [1]. Group 2 - The delivered vehicles will integrate with Times Qi Ji's recharging network to create a seamless operational loop for Tengyun Logistics, emphasizing the importance of a "vehicle-road-station" integrated approach [3]. - DeepWay's marketing manager stated the company's commitment to continuous technological upgrades and product innovation, aiming to support the green and intelligent development of Tengyun Logistics and set a benchmark for new energy heavy truck applications nationwide [3]. - The achievement of signing 100 units and delivering 50 showcases DeepWay's product strength and market recognition in the intelligent new energy heavy truck sector [5].

Core Insights - DeepWay has completed a Pre-IPO financing round, raising 1.177 billion yuan, marking the largest single financing in the history of the autonomous driving new energy heavy truck sector [1] - The funds will primarily be used for the operation and development of the company's core business, reinforcing its leading position in the smart new energy heavy truck market [1] Group 1: Company Overview - DeepWay is the world's first company to create smart new energy heavy truck solutions through a forward definition approach, achieving mass delivery [3] - The company employs a dual-driven development strategy of "self-owned vehicles + self-researched intelligent driving technology," redefining product and R&D architecture outside the traditional fuel vehicle technology system [3] - As of June 2025, DeepWay has delivered approximately 6,400 new energy heavy trucks, ranking first in the global forward-defined new energy heavy truck market [3] Group 2: Development Strategy - DeepWay adopts a pragmatic and gradual development path, prioritizing resources for commercializable directions [3] - The company initially focused on creating vehicles through forward definition, achieving self-research in core components, and completing the electrification of new energy heavy trucks [3] - The strategy includes promoting the large-scale application of combined auxiliary driving systems and deploying human-machine co-driving models, laying the foundation for the eventual large-scale implementation of fully autonomous driving [3] Group 3: Commercialization and Market Focus - DeepWay is at the forefront of the commercialization of intelligent driving, having standardized the combined auxiliary driving system across its latest models, with a continuously increasing subscription rate for intelligent driving features [4] - The company focuses on the substantial fixed-route short-distance bulk transportation market within China's logistics system, which accounts for approximately 40% to 50% of total road freight demand [5] - DeepWay is accelerating the application of intelligent platooning, currently conducting tests and cargo operations in regions such as Xinjiang, Inner Mongolia, and Sichuan, with initial customer deliveries of platooning vehicles [5] Group 4: Future Outlook - With a clear strategic path, ongoing technological investment, and solid commercial progress, DeepWay is steadily advancing the implementation of autonomous driving in freight transport [5] - The company aims to continue focusing on technological and product innovation, accelerating the large-scale application of autonomous driving in road freight scenarios, and driving the industry towards a more intelligent, efficient, and green direction [5]

Group 1 - DeepWay has completed a Pre-IPO financing round, raising a total of 1.177 billion yuan [2] - The financing was led by PwC Capital, with participation from various investors including ABC Impact and Lenovo Ventures [2] - The funds will be primarily used for the operation and development of the company's core business in the smart new energy heavy truck sector [2] Group 2 - DeepWay, founded in 2020 by Baidu and Lionbridge Group, specializes in smart new energy heavy trucks and intelligent road freight solutions [2] - The company has completed a total of five financing rounds since its inception, with notable venture capital and private equity investors [2][3] - Cumulatively, DeepWay has raised over 3.157 billion yuan across these financing rounds, making it one of the notable players in China's autonomous driving sector [3] Group 3 - As of June 2025, DeepWay has delivered approximately 6,400 new energy heavy trucks [3] - The company set a record in August 2022 for the largest financing in the smart new energy truck sector with a 460 million yuan A-round [3] - The A+ round in March 2023 raised 770 million yuan, led by Weiqiao Group and SoftBank China Capital [3]

Core Viewpoint - DeepWay has successfully completed a Pre-IPO financing round, raising a total of 1.177 billion yuan, which will be used to strengthen its leading position in the smart new energy heavy truck sector [1]. Group 1: Company Overview - DeepWay is the world's first company to create smart new energy heavy truck solutions through positive definition and achieve mass delivery [3]. - The company employs a dual-driven development strategy of "self-owned vehicles + self-developed intelligent driving technology," redefining product and research structures beyond traditional fuel vehicle technology [3]. - As of June 2025, DeepWay has delivered approximately 6,400 new energy heavy trucks, ranking first in the global positive definition new energy heavy truck market [3]. Group 2: Development Strategy - DeepWay adopts a pragmatic and gradual development path, prioritizing resources towards areas that can achieve commercial viability first [3]. - The company has focused on electric vehicle innovation and the large-scale application of auxiliary driving systems, laying the groundwork for the eventual realization of fully autonomous driving [3][4]. - The company aims to balance technical feasibility and commercial sustainability, establishing a differentiated development route in the commercial vehicle autonomous driving sector [3]. Group 3: Market Focus and Application - DeepWay is currently concentrating on the large-scale short-distance bulk transportation market within China's logistics system, which accounts for approximately 40% to 50% of total road freight demand [4]. - The company is accelerating the application of intelligent platooning, conducting tests and operations in regions such as Xinjiang, Inner Mongolia, and Sichuan, and has delivered the first batch of platooning vehicles to customers [4]. Group 4: Investor Perspectives - Investors recognize DeepWay's systematic advantages in the intelligent driving field, highlighting the integration of vehicle and intelligent driving technology as a key factor for high reliability and safety [7]. - The company is seen as a potential leader in the future of smart road freight, with a clear strategic path and strong technological barriers [7]. - Investors appreciate DeepWay's role in reducing emissions and decarbonizing the road freight sector through its electric and intelligent technologies [8].

Core Insights - DeepWay has completed a Pre-IPO financing round, raising a total of 1.177 billion yuan, marking the largest single financing in the history of the autonomous driving new energy heavy truck sector [1] - The funds raised will primarily be used for the operation and development of the company's core business, further solidifying its leading position in the smart new energy heavy truck field [1] Company Overview - DeepWay is the world's first company to create smart new energy heavy truck solutions through forward definition and achieve mass delivery [3] - The company employs a dual-driven development strategy of "self-owned vehicles + self-developed intelligent driving technology," redefining product and R&D architecture outside the traditional fuel vehicle technology system [3] - As of June 2025, DeepWay has delivered approximately 6,400 new energy heavy trucks, ranking first in the global forward-defined new energy heavy truck market [3] Development Strategy - DeepWay adopts a pragmatic and gradual development path, prioritizing resources for commercializable directions [3] - The company has achieved electric vehicle innovation by developing core components in-house and is now promoting the large-scale application of combined auxiliary driving systems [3] - The gradual approach balances technical feasibility and commercial sustainability, creating a differentiated development route in the commercial vehicle autonomous driving sector [3] Commercialization Progress - DeepWay has implemented a standard configuration of combined auxiliary driving systems across its latest models, with a continuous increase in subscription rates for intelligent driving services [4] - The company focuses on the substantial fixed-route short-distance bulk transportation market in China's logistics system, which accounts for approximately 40% to 50% of total road freight demand [4] - DeepWay is accelerating the application of intelligent platooning, currently conducting tests and operations in regions such as Xinjiang, Inner Mongolia, and Sichuan [4] Future Outlook - With a clear strategic path, ongoing technological investment, and solid commercialization progress, DeepWay is steadily advancing the implementation of autonomous driving in freight transport [5] - The company aims to continue focusing on technological and product innovation to accelerate the large-scale application of autonomous driving in road freight scenarios, promoting a smarter, more efficient, and greener industry [5] Investor Perspectives - Investors recognize DeepWay's systematic advantages in the intelligent driving field, highlighting the integration of vehicle and intelligent driving technology as a key factor for high reliability and safety [7] - The company is seen as a potential leader in the future of smart road freight due to its unique strategic path and strong software and hardware capabilities [7] - DeepWay's mission aligns with investor goals, particularly in reducing emissions and decarbonizing the freight sector through electrification and intelligent technology [7][8]

Core Viewpoint - DeepWay has completed a Pre-IPO financing round, raising 1.177 billion yuan, marking the largest single financing in the autonomous driving new energy heavy truck sector, aimed at strengthening its leading position in the market [2]. Group 1: Company Overview - DeepWay is the world's first company to create and deliver intelligent new energy heavy truck solutions through a forward definition approach, focusing on integrating self-owned vehicles with self-developed intelligent driving technology [2][3]. - The company has delivered approximately 6,400 new energy heavy trucks as of June 2025, ranking first in the global forward-defined new energy heavy truck market [2]. Group 2: Development Strategy - DeepWay adopts a pragmatic and gradual development path, prioritizing resources for commercial viability, initially focusing on electric vehicle technology and gradually advancing to autonomous driving systems [3][4]. - The company has achieved significant advancements in electric vehicle technology and is now promoting the large-scale application of combined auxiliary driving systems, laying the groundwork for fully autonomous driving [4]. Group 3: Market Focus and Application - DeepWay targets the substantial fixed-route short-distance bulk transportation market in China's logistics system, which accounts for approximately 40% to 50% of total road freight demand [5]. - The company is accelerating the application of intelligent convoying, currently conducting tests and operations in regions such as Xinjiang, Inner Mongolia, and Sichuan, with initial customer deliveries of convoy models [5]. Group 4: Industry Position and Future Outlook - DeepWay is recognized for its systematic advantages in the intelligent driving field, achieving deep integration of vehicle and intelligent driving technology, which enhances reliability and efficiency [7]. - The company is expected to lead the future of intelligent road freight through its unique strategic path and strong technological barriers, contributing to emissions reduction and decarbonization in the logistics sector [7][8].

Core Viewpoint - DeepWay is positioning itself as a leader in the electric and intelligent logistics sector, aiming to transform the global road freight industry towards zero carbon emissions, efficiency, and safety through innovative technologies [2][18]. Group 1: Company Overview - DeepWay was established in 2021, focusing on the new energy heavy truck sector, and aims to redefine freight paradigms by integrating electric and intelligent technologies [3][4]. - The company has developed a "three-step" strategic blueprint: focusing on electrification, scaling globally, and achieving full intelligence in logistics [3][4]. Group 2: Technological Innovations - DeepWay adopts a "positive definition" approach, designing vehicles from the ground up for electric drive, which allows for significant performance improvements over traditional fuel and converted electric trucks [4][9]. - The company has achieved a reduction in the total lifecycle cost of its heavy trucks by 18.7% compared to traditional fuel trucks and 4.9% compared to converted electric trucks [4]. - DeepWay's self-developed "three electric" systems (battery, electric drive, and electric control) account for over 60% of the total vehicle cost, enabling better cost control and performance [7][9]. Group 3: Market Position and Growth - The new energy heavy truck market is rapidly growing, with DeepWay capturing a significant market share, reaching nearly 25% by September 2025, up from 13.61% in 2024 [15][16]. - DeepWay is ranked first in the global market for positively defined new energy heavy trucks based on 2024 sales [15]. - The company has established a strong presence in international markets, including Thailand, Malaysia, Australia, New Zealand, and the UAE, by localizing its products to meet specific regional needs [16][17]. Group 4: Future Outlook - The global new energy heavy truck market is projected to grow from $9.8 billion in 2024 to $80.6 billion by 2030, with DeepWay expected to leverage its technological advantages to dominate this emerging market [21]. - DeepWay's listing on the Hong Kong Stock Exchange is seen as a significant milestone, reflecting the capital market's recognition of the new energy commercial vehicle sector and setting a benchmark for innovation in the industry [19][20].

Core Insights - DeepWay is set to list on the Hong Kong Stock Exchange, marking a significant milestone in its development and indicating a shift from technology validation to capital market recognition for the smart new energy heavy truck sector [1][3] - The company aims to redefine the heavy truck industry through a combination of technology, capital, and ecosystem, potentially reshaping the competitive landscape [1][3] Company Overview - DeepWay is a leading global technology company focused on new energy heavy trucks and intelligent road freight solutions, emphasizing electrification and intelligence to transition the logistics industry to a zero-carbon, efficient, and safe phase [3][4] - Unlike traditional heavy truck manufacturers, DeepWay positions itself as an "industrial robot company driven by AI," aiming to innovate and redefine heavy truck products and solutions [3][4] Market Position and Performance - DeepWay is the first company to achieve mass delivery of smart new energy heavy trucks through a forward definition approach, breaking free from traditional fuel vehicle frameworks [3][4] - The company has delivered 509, 3002, and 2873 new energy heavy trucks in 2023, 2024, and the first half of 2025, respectively, ranking first in the global forward-defined new energy heavy truck market by 2024 sales [3][4] Global Expansion - DeepWay is the first Chinese company to deliver forward-defined new energy heavy trucks overseas, establishing sales networks in countries like Singapore, Thailand, Malaysia, UAE, and Australia by September 2025 [4][9] - The global market for new energy heavy trucks is projected to grow significantly, with an expected annual sales volume of 95,500 units and a market size of $9.8 billion in 2024, potentially reaching $80.6 billion by 2030 [9][11] Technological Innovation - DeepWay's technological advancements include a fully self-developed electronic and electrical architecture, achieving high-speed communication and cost efficiency, along with a low-drag aerodynamic design for enhanced energy efficiency [5][6] - The company has developed its core "three electric" systems (battery, electric drive axle, and electric controller) through self-research, enhancing product performance and reducing reliance on external suppliers [6][12] Future Growth Potential - Future growth for DeepWay is anticipated to stem from expanding operational scenarios and ongoing technological iterations, with partnerships in mid-to-long-distance transportation already validated [12][13] - The company aims to achieve autonomous driving in freight transport, with a gradual development approach focusing on user-defined scenarios and commercial viability [12][13] Industry Context - The new energy heavy truck sector is experiencing explosive growth, with China expected to contribute 88.8% of global sales and 71.4% of revenue in 2024, indicating a rapid increase in market penetration [11][12] - DeepWay's innovative approach positions it as a key player in addressing the industry's challenges related to high carbon emissions and total cost of ownership, similar to the disruption seen in the passenger vehicle market by companies like Tesla [11][12]

Core Insights - The Chinese new energy heavy truck market has experienced explosive growth since 2025, with monthly sales exceeding 10,000 units becoming the norm. This growth has led to a polarized competitive landscape where leading companies capture an increasing market share, while other entrants face significant pressure [1][4][10]. Market Dynamics - The market share of new energy heavy truck newcomers has increased tenfold from 0.4% in 2023 to nearly 4% in the first nine months of 2024, indicating a remarkable growth rate [4][12]. - The penetration rate of new energy in the heavy truck market reached 24.21% in the first three quarters of 2025, a significant increase from 5.58% in 2023 and 13.61% in 2024, driven by a dual push from both policy and market recognition [6][12]. Technological Innovation - New energy heavy truck newcomers, such as DeepWay, are leading the industry with innovative technologies like integrated electric drive axles and distributed drive systems, which have shifted the industry focus from "oil-to-electric" to "forward design" [7][12]. - The competitive advantage of these new entrants lies in their ability to innovate, with a focus on self-research of core technologies such as electric drive axles and integrated battery systems, which are essential for the transition to smart and automated heavy trucks [12][13]. Future Outlook - The industry is expected to continue evolving towards intelligent driving and even autonomous driving, with new energy heavy trucks being positioned as the best choice for addressing high labor costs and safety issues in various operational scenarios [16][17]. - Companies like DeepWay are pioneering advanced driver-assistance systems, which not only enhance safety but also reduce operational costs, indicating a shift in customer preferences towards vehicles that offer economic and operational benefits [17][22].