Autonomous mining solution developer CiDi Inc. files for IPO in Hong Kong

Published: Nov 11, 2024 17:21
Source: gasgoo
CiDi Inc. recently submitted its IPO application to the Hong Kong Stock Exchange.

Beijing (Gasgoo)- CiDi Inc. recently submitted its IPO application to the Hong Kong Stock Exchange, with China International Capital Corporation, China Securities International, and Ping An of China Asset Management (Hong Kong) as joint sponsors. If approved, CiDi would become the first publicly listed autonomous mining truck company in China.

Founded in 2017, CiDi focuses on autonomous mining and logistics vehicles, V2X technology, and advanced perception solutions. The company's proprietary Meta Mine solution is a comprehensive, fully autonomous mining truck platform, integrating driverless trucks, fleet management systems, a centralized dispatch platform, and remote-control cockpits. This solution enables self-sufficient and remotely monitored operations in mining, reducing the need for labor-intensive tasks.

As of September 30, 2024, CiDi had delivered 123 autonomous mining trucks across multiple quarry and coal sites in Henan, Jiangsu, Hubei, Hunan provinces, as well as sites in western China. The company's order book includes indicative orders for 320 autonomous mining trucks and 206 sets of autonomous truck systems. Notably, in the third quarter of 2024, CiDi received additional indicative orders for 310 trucks and 174 sets of systems, highlighting significant growth potential.

Revenue from CiDi's operations is primarily derived from autonomous driving solutions, including full-stack mining and logistics vehicles, as well as V2X and high-performance perception technologies.

From 2021 to 2023, CiDi realized annual revenue of 77.385 million yuan, 31.056 million yuan, and 133 million yuan, respectively, showing strong growth. In the first half of 2024, its revenue amounted to 259 million yuan.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
[Auto Summit] Sichuan Samsung New Materials Invites You to SMM ASCC2026 (The 8th) Automotive Supply Chain Conference
16 hours ago
[Auto Summit] Sichuan Samsung New Materials Invites You to SMM ASCC2026 (The 8th) Automotive Supply Chain Conference
Read More
[Auto Summit] Sichuan Samsung New Materials Invites You to SMM ASCC2026 (The 8th) Automotive Supply Chain Conference
[Auto Summit] Sichuan Samsung New Materials Invites You to SMM ASCC2026 (The 8th) Automotive Supply Chain Conference
16 hours ago
[Solid-State Battery: Tinci Materials Completed 100-mt Level Lithium Sulfide and Solid-State Electrolyte Pilot Line]
18 hours ago
[Solid-State Battery: Tinci Materials Completed 100-mt Level Lithium Sulfide and Solid-State Electrolyte Pilot Line]
Read More
[Solid-State Battery: Tinci Materials Completed 100-mt Level Lithium Sulfide and Solid-State Electrolyte Pilot Line]
[Solid-State Battery: Tinci Materials Completed 100-mt Level Lithium Sulfide and Solid-State Electrolyte Pilot Line]
[Solid-State Battery: Tinci Materials’ 100-MT-Class Lithium Sulphide and Solid-State Electrolyte Pilot Line Construction Completed] On August 23, 2026, Tinci Materials announced that a 100-mt-class lithium sulphide and solid-state electrolyte pilot production line had been completed and would enter trial production in Q3, with lithium sulphide being the core precursor raw material for sulphide solid-state electrolytes.
18 hours ago
Tajikistan to allocate $95 mln to develop electric transport by 2029
19 hours ago
Tajikistan to allocate $95 mln to develop electric transport by 2029
Read More
Tajikistan to allocate $95 mln to develop electric transport by 2029
Tajikistan to allocate $95 mln to develop electric transport by 2029
DUSHANBE. Aug 21 - The Tajik government has approved the action plan for the second phase of the country's program to develop electric transport for 2026-2028, at over 888 million somoni ($95 million at the current exchange rate), the press service of the country's Transport Ministry said. The document indicates that 105.99 million somoni of the total funding is planned to be raised from development partners, and another 782 million somoni from the private sector. The plan calls for creating conditions for attracting investment, improving the regulatory framework, developing charging and service infrastructure, organizing the collection and recycling of used batteries, and expanding the electric bus fleet. Specifically, the plan envisages purchasing 210 electric buses at 70 units annually, with 714.3 million somoni allocated for this. The document notes that 60 modern AKIA ULTRA electric buses currently operate in Dushanbe. In 2026-2028, 1,100 new electricity sales points for electric vehicles are planned to be created. Of these, 555 will be located in Dushanbe, 200 in the Sughd Region, 200 in the Khatlon Region, 110 in cities and districts of republican subordination, and 35 in the Gorno-Badakhshan Autonomous Region. Approximately 167 million somoni have been allocated for the project. There are also plans to establish specialized electric vehicle service centers. The document indicates that there are currently two BYD Service centers operating in Dushanbe. The second phase of the program envisages the opening of 10 more such centers. A separate set of measures includes the development of a system for collecting used batteries. Specifically, land plots for the corresponding infrastructure will be allocated in the regions, as well as the development of technologies for decontamination and recycling of batteries. The official exchange rate as on August 21, 2026, is 9.25 somoni /$1.
19 hours ago
Autonomous mining solution developer CiDi Inc. files for IPO in Hong Kong - Shanghai Metals Market (SMM)