Yujie Technology Seeks HK Listing for Autonomous Driving Growth

Yujie Technology, a prominent player in Level 4 autonomous driving, has submitted an application to list on the Hong Kong Stock Exchange's main board. The company, which focuses on developing true driverless, full-scenario L4 autonomous driving technology, aims to leverage the robust regulatory framework and deep liquidity of the Hong Kong market to raise funds for further technological advancements.

Yujie Technology's core products include autonomous driving solutions for airports, industrial zones, and other enterprise clients, as well as commercial and passenger vehicle manufacturers. These solutions encompass L4 autonomous driving capabilities, autonomous driving kits, software solutions, and rental services. The company has established itself as a leader in the airport transportation sector, providing sustainable L4 autonomous driving solutions to 17 airports in China and 3 international airports. These solutions include autonomous electric tractors, shuttle buses, and patrol vehicles, which handle tasks such as luggage and cargo towing, shuttle services, and patrols.

In the industrial zone sector, Yujie Technology offers end-to-end autonomous logistics solutions, enabling the seamless transfer of raw materials, samples, parts, semi-finished products, and finished goods from indoor to outdoor environments and vice versa. The company's solutions cater to various industries, including automotive, chemical, photovoltaic, and lithium battery manufacturing. Beyond airports and industrial zones, Yujie Technology has expanded its autonomous driving solutions to smart cities, ports, mines, and agricultural fields through its autonomous driving kit solutions.

Financially, Yujie Technology reported revenues of approximately 65.48 million yuan in 2022, which surged to 1.61 billion yuan in 2023 and further increased to 2.65 billion yuan in 2024. Despite this impressive revenue growth, the company has yet to achieve profitability, reporting losses of approximately 2.5 billion yuan in 2022, 2.13 billion yuan in 2023, and 2.12 billion yuan in 2024. The significant investments required to develop and commercialize autonomous driving technology have contributed to these losses.

Yujie Technology's decision to list on the Hong Kong Stock Exchange is a strategic move that could provide the company with the necessary capital to further develop its autonomous driving technology. The Hong Kong market's robust regulatory framework and deep liquidity make it an attractive destination for tech companies seeking to raise funds. Yujie Technology's focus on Level 4 autonomous driving positions it well to capitalize on the growing demand for advanced driver-assistance systems and fully autonomous vehicles.

The autonomous driving sector is experiencing rapid growth, driven by advancements in artificial intelligence, sensor technology, and data analytics. Yujie Technology's expertise in these areas has enabled it to develop cutting-edge solutions that are in high demand. The company's revenue growth over the past few years reflects its ability to innovate and adapt to market needs, positioning it as a key player in the autonomous driving landscape.

However, the path to profitability remains a challenge for Yujie Technology. The company's significant losses in 2022 highlight the substantial investments required to develop and commercialize autonomous driving technology. As the company continues to scale its operations and expand its market reach, it will need to balance its focus on innovation with the need to achieve financial sustainability.

Yujie Technology's pursuit of a listing on the Hong Kong Stock Exchange is a significant milestone for the company and the autonomous driving industry as a whole. The successful listing could provide Yujie Technology with the resources it needs to accelerate its growth and solidify its position as a leader in the autonomous driving sector. As the company continues to navigate the complexities of the market, its ability to innovate and adapt will be crucial to its long-term success.