China’s autonomous truck developer Trunk Technology (Beijing) Co Ltd has filed for a Main Board listing in Hong Kong, marking its formal entry into public capital markets, according to filings dated Dec. 11.
The company, headquartered in Beijing’s Economic and Technological Development Zone, has appointed Guotai Haitong Securities as its sole sponsor. Trunk Technology is widely regarded as China’s first company to commercialise fully driverless transport solutions in port operations and has since expanded into broader logistics scenarios.
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Trunk Technology has built a vertically integrated “vehicle–edge–cloud” technology stack centred on its proprietary Level-4 autonomous driving system, allowing it to offer end-to-end solutions ranging from autonomous trucks to smart terminal systems.
Revenue grew from 112 million yuan ($15.6 million) in 2022 to 254 million yuan in 2024, representing a compound annual growth rate of more than 50%. In the first half of 2025, the company generated 99 million yuan in revenue, driven by wider commercial deployments and stronger delivery capabilities.
Gross margin has improved sharply as scale increased, rising from 3.7% in 2022 to 22.7% in 2024, and further to 30.3% in the first half of 2025. Gross profit reached 57.6 million yuan in 2024, compared with just 4.2 million yuan two years earlier.
Despite these gains, the company remains loss-making, with net losses of 187 million yuan in 2024. Trunk Technology said proceeds from the planned IPO will be used to bolster research and development, expand production of intelligent equipment and core components, and strengthen market expansion and strategic investments.