Hong Kong, 31 March 2026 – CiDi (03881.HK), the first HKEX-listed technology enterprise focused on commercial vehicle autonomous driving, released its maiden annual results, delivering doubled revenue and improved profitability. The results stand as a testament to the company’s robust large-scale commercialization of autonomous driving solutions across diverse real-world use cases.

CiDi—a constituent of the Hang Seng Composite Index—has garnered "Buy" ratings from leading securities institutes including Shenwan Hongyuan, TF Securities, Everbright Securities, Guosen Securities and Huatai Securities, reflecting high recognition of its technological prowess, growth potential and investment value. 

Revenue Doubles with Improved Profitability; Abundant Capital Reserves Underpin Long-Term Growth

In 2025, CiDi achieved an annual total revenue of RMB 885 million (115.8% YoY growth). Its autonomous driving business—the core growth engine—generated RMB 843 million in revenue (230.7% YoY growth), accounting for 95.3% of total revenue, driven by the large-scale deployment of autonomous mining trucks in open-pit coal mines.

Profitability improved significantly: gross profit rose to RMB 189 million (86.7% YoY growth), and the adjusted loss-to-revenue ratio narrowed from 30.9% (2024) to 27.4% (2025) (3.5 percentage points lower). As at the end of 2025, the company’s cash and cash equivalents reached RMB 1.384 billion, providing solid financial support for capacity expansion, R&D, industrial chain extension and overseas strategy.

Wei Ma, Co-founder of CiDi, said: "2025’s robust revenue growth is a powerful testament to our focus on addressing customers’ critical operational needs, driving original technology innovation, and executing systematic commercialization. We are committed to delivering far more value than we charge, and this is the core logic behind our industry-outpacing growth trajectory."

Autonomous Mining Trucks: Mass Rollout & Scale-Up

Autonomous mining trucks, CiDi’s core business, saw explosive growth in 2025: delivery volume hit 630 units/sets (317.22% YoY growth), with sales surging more than 20 times from 2023 to 2025. As of the end of February 2026, deployment exceeded 1,500 units in total, with payload haulage exceeding 140 million tons cumulatively. Technologically, the trucks boast a 1:100 remote take-over ratio and reliable operation at -40℃, setting a new industry benchmark under extreme  conditions.

Leveraging its proprietary integrated technology platform, CiDi is commercializing across various real-world applications, demonstrating robust tech scalability and driving synergy across its business lines.

In connected vehicle-to-everything (V2X), the company’s solutions power over 3,000 public transit buses across 11 cities, with cumulative sales of on-board units (OBUs) exceeding 14,000 units. Its autonomous heavy-duty trucks have been deployed at the China-Vietnam Puzhai Smart Port, supporting the development of China’s first land port clearance platform centered on autonomous container trucks. In intelligent perception, the company is steadily delivering safety integrity level-4 (SIL 4)-certified Train Autonomous Perception System (TAPS), as well as deepening its presence in use cases including smart mobility and logistics.

Full-Process Mining Automation & Accelerated Global Strategy

As a front-runner in China’s mining automation sector, CiDi is evolving from a national leader in autonomous mining to a global provider of smart mining solutions.

The company is building a closed-loop autonomous mining system by integrating data flows across drilling, blasting, excavation, and haulage, supporting customers in upgrading from individual equipment automation to full-system intelligent operations. In parallel, CiDi is actively pursuing open-road pilot programs for short-haul bulk freight autonomous driving to establish industry benchmarks.

In its global push, CiDi focuses on key mineral-rich markets such as Australia and South America, partnering with major overseas mining operators to deploy its proven autonomous mining truck solutions to the global markets and advance the development of smart mining worldwide.

“2025 was a transformative year for CiDi—we turned technological leadership into commercial scale, led by the explosive growth of our autonomous mining trucks. We are confident 2026 will be another year of robust growth as we further accelerate our global strategy, bringing our proven autonomous driving solutions and full-process mining automation capabilities to more strategic partners globally. The abundant capital reserves and strong market recognition will fuel our next phase of growth, as we continue to expand our product matrix and deepen our presence across core business verticals” commented Albert HU, CEO of CiDi.