Core Viewpoint - Hidi Intelligent Driving Technology Co., Ltd. has submitted an application to the Hong Kong Stock Exchange for an IPO, despite accumulating losses exceeding 1.5 billion yuan over three and a half years [1][2] Financial Performance - The company's revenue has shown significant growth from 31.06 million yuan in 2022 to 410 million yuan in 2024, with the first half of 2025 achieving approximately 410 million yuan, nearing the total revenue of 2024 [2] - Despite the revenue growth, the company recorded increasing losses, with losses of 263 million yuan in 2022, 255 million yuan in 2023, 581 million yuan in 2024, and 455 million yuan in the first half of 2025 [1][2] Business Focus - Hidi Intelligent Driving specializes in intelligent driving products and solutions for commercial vehicles, focusing on autonomous mining and logistics vehicles in closed environments, as well as V2X technology and intelligent perception solutions [1]

Core Insights - Xidi Intelligent Driving Technology Co., Ltd. has submitted an application to list on the Hong Kong Stock Exchange, with CICC, CITIC Securities International, and Ping An Securities (Hong Kong) as joint sponsors [1] - The company specializes in innovative products and solutions for intelligent driving in commercial vehicles, focusing on autonomous mining and logistics vehicles, V2X technology, and intelligent perception solutions [1] - Xidi ranks sixth among all intelligent driving commercial vehicle companies in China, holding a market share of approximately 5.2% [1] Financial Performance - In 2024, Xidi's product sales revenue in the intelligent driving commercial vehicle market is projected to be around 250 million yuan, accounting for approximately 16.8% of the market share [1] - The company is ranked first in the market for autonomous mining truck solutions in China based on product sales revenue for 2024 [1]