HONG KONG, December 29, 2025 - (ACN Newswire) – The global autonomous driving industry is transitioning from a phase of rapid technological advancement to one of commercial model implementation. Unlike the large-scale open-road trials dominated by technological narratives, CiDi Inc. ("CiDi" or "the Company"), with its full-stack technology as the core pillar, has achieved scaled commercial deployment, establishing itself as one of the most representative benchmark enterprises in this field.

More significantly, this proven capability is now underpinning its expansion into additional closed environments and overseas markets, offering investors a more enduring and certain growth trajectory. On December 11, CiDi formally commenced its IPO process, with a Hong Kong listing imminent.

Hardcore Intelligent Driving System: Building Efficiency Moats in Closed Environments

Autonomous driving in closed environments, while seemingly straightforward, demands stability, cost-effectiveness, and scalability under high-intensity operations, complex road conditions and multi-vehicle coordination. Through its full-stack technology framework, CiDi achieves a balance between "safety" and "efficiency", establishing a formidable competitive moat that is difficult to replicate.

At the vehicle level, CiDi possesses full-process capabilities encompassing proprietary algorithms, perception systems, path planning and control modules. Through OEM collaborations, it achieves deep integration between vehicles and systems, enhancing control precision and scenario adaptability. This enables its vehicles to maintain superior stability under typical mining conditions such as extreme temperature variations, complex terrain, and multiple gradients.

Its self-developed centralised dispatch platform and fleet coordination module form the system's "intelligent brain". This system enables comprehensive optimisation and intelligent scheduling of the entire mining operation workflow, ensuring efficient collaborative operations across mixed fleets. This maximises equipment utilisation while minimising empty runs and idle waiting times.

It is precisely this complete technological closed loop, spanning fundamental vehicle control, intermediate coordination algorithms, and upper-tier central platform scheduling, that elevates individual vehicle autonomous capabilities into a scalable, holistically optimised intelligent transport system.This not only underpins the safe and efficient operation of the world's largest “mixed-operation mining truck fleet” but also delivers a hard-core performance metric where “autonomous driving efficiency surpasses manual operation”. This establishes a formidable moat, translating technological superiority into tangible customer value through intrinsic safety, cost reduction, and enhanced efficiency.

Dual-Drive Business Model Unlocks New Pathways for Commercial Monetization

Leveraging its proven technological efficacy, CiDi has established a dual-engine business model driven by "Autonomous Driving Solutions" and "V2X (Vehicle-to- Everything) Technology," supported by intelligent perception services. This model ingeniously converts technological advantages into repeatable orders and customer loyalty.

On one front, CiDi equips fleets with standalone autonomous driving kits through its driver-less mining truck solutions, enabling “mixed operations” where unmanned and manned vehicles operate concurrently. This model significantly lowers the initial capital barriers and operational risks for mining enterprises undertaking intelligent upgrades, facilitating a smooth and pragmatic technology adoption pathway. As of the Latest Practicable Date, the Company had delivered 56 autonomous mining trucks to a mining site, operating alongside approximately 500 manned trucks to form the world's largest mixed-operation mining fleet.

Enhanced efficiency directly translates into customer return on investment, driving scalable product sales. As of 30 June 2025, the Company has delivered 414 autonomous mining trucks and/or standalone autonomous truck systems to customers, while securing indicative orders for additional 647 units/systems.

Through large-scale commercial deployment, CiDi has established its position as a global leader in autonomous driving for closed environments. Based on 2024 revenue, the Company ranks among the top three in China's autonomous mining truck solutions market. Furthermore, as a benchmark enterprise pursuing a Hong Kong Stock Exchange listing under the "Specialist Technology" category, its status itself signifies capital markets' strong recognition of its leading position in the autonomous driving sector.

Growth Potential: From Mining Sites to Enclosed Parks, From China to the World

Building upon its consolidated and expanded mining strengths and leveraging its proven technological framework and operational expertise in closed environments, CiDi is progressively expanding into broader markets, unlocking significant growth potential.

Currently, its autonomous logistics vehicle solutions have been deployed within enclosed industrial parks, delivering core functionalities akin to its mining solutions while adapting to specific logistics demands such as cargo handling, complex navigation, and mixed pedestrian traffic. Its V2X technology may also play a distinctive role in future vehicle-road cooperative intelligent transport networks.

Vertically, CiDi is accelerating its international expansion, exporting products and services to high-demand overseas markets. The Company has already established preliminary cooperative relationships with multiple overseas clients to initiate projects. According to CIC forecasts, the market size of global commercial vehicle intelligent driving is projected to grow from RMB10 billion in 2024 to RMB1,614.4 billion by 2030, with a CAGR of 133.3%. CiDi's global expansion strategy positions it to seize early opportunities within this expanding market.

From technological foundation-building to business model monetisation and scenario expansion, CiDi has carved out a differentiated development path within the autonomous driving industry. By building core barriers through its full-stack technology, its commercialization experience in mining areas serves as a critical validation of value, while extending into more scenarios and global markets unlocks the potential for long-term growth. In a rapidly evolving technological landscape and an accelerating market, this enterprise, possessing both technical depth and commercial acumen, is steadily advancing towards becoming a globally influential provider of intelligent logistics solutions.

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