Trunk Technology files for Hong Kong IPO after revenue growth

Trunk Technology files for Hong Kong IPO after revenue growth Trunk Technology (Beijing) Co. Ltd. has filed for a Hong Kong IPO under Chapter 18C, targeting the market for autonomous commercial vehicle solutions. The company reported a 35.6% revenue increase to 345 million yuan last year, with its trunk pilot segment contributing 62.5% of total revenue. Despite growth, Trunk Technology posted a loss of 171 million yuan, with R&D expenses at 26.3% of revenue. *this image is generated using AI for illustrative purposes only. Trunk Technology (Beijing) Co. Ltd., a developer of Level 4 autonomous truck technology, has filed a listing application with the Hong Kong stock exchange under the Chapter 18C framework. The company, which counts Bosch and Nio among its early backers, reported a 35.6% increase in revenue to 345 million yuan last year, driven primarily by its road freight division. Despite the revenue growth, Trunk Technology has remained in the red for the last three years, recording a loss of 171 million yuan in the same period. The company’s revenue is generated through three main segments: trunk pilot, trunk port, and trunk city. Trunk pilot, the road freight division, is the largest revenue contributor, bringing in 215 million yuan last year, which accounted for 62.5% of the total. This segment designs and sells autonomous driving solutions for highway logistics, covering express delivery, less-than-truckload freight, bulk cargo, and cold chain transport. The average selling price for trunk pilot solutions surged 251% to 6.72 million yuan. Trunk port, the second-largest segment, generated 127 million yuan, representing 37% of total revenue. This segment provides unmanned transportation solutions for logistics hubs, utilizing smart trucks and robots to operate round-the-clock. While trunk port revenue declined last year, the surge in trunk pilot revenue more than offset the drop, leading to overall revenue