Zelos Technology Targets $600 Million Hong Kong IPO With Autonomous Delivery Scale Zelos Technology is moving closer to public markets at a moment when investor attention around automation and logistics could be building. The Chinese robovan operator is reportedly working with banks on a potential Hong Kong listing that could raise about $600 million, according to people familiar with the matter. Discussions are still ongoing, and key elements such as timing and deal size may shift, suggesting the process remains in an early and somewhat flexible stage. What stands out is how Zelos is positioning itself within the autonomous delivery ecosystem. The company, formally known as Jiushi Suzhou Intelligent Technology Co., supplies Level 4 autonomous delivery trucks, targeting a segment that could benefit from rising demand for efficiency in logistics. It has also drawn backing from Alibaba Group Holding Ltd.'s BABA logistics arm Cainiao, which became a shareholder earlier this year through an undisclosed cash injection, potentially reinforcing its strategic ties within a broader commerce infrastructure. Scale appears to be a central part of the investment narrative. Founded in 2021, Zelos has built a fleet of more than 25,000 robovans operating across mainland China, while also expanding into parts of Southeast Asia and the Middle East, including Singapore and the UAE. That footprint could position the company as a notable participant in the autonomous logistics space if it proceeds with a listing, although investors may still weigh execution factors and evolving regulatory conditions tied to driverless delivery systems.