UISEE successfully listed on the HKEX, aiming to leverage its L4 autonomous driving commercialization advantages in closed scenarios such as airports and factories to accelerate technology iteration, global expansion, and the large-scale deployment of AI drivers.
On May 20, UISEE Technologies (Beijing) Co., Ltd. (驭势科技（北京）股份有限公司), a leading provider of full-scenario L4 autonomous driving solutions, officially listed on the Main Board of the Hong Kong Stock Exchange under the stock code 1511.HK. In this Hong Kong IPO, the company issued a global total of 14.46 million shares, with the final offer price set at 60.3 HKD per share, raising total proceeds exceeding 870 million HKD. As the "first full-scenario L4 autonomous driving stock," UISEE's (驭势科技) debut on the Hong Kong stock market will leverage this international capital platform to further accelerate full-stack proprietary technology iterations, expand global commercialization scenarios, enhance industrial ecosystem layouts, and drive the large-scale popularization of AI drivers.
The cornerstone investors for this IPO consist of Xiong’an Autonomous Driving Co., Ltd. (雄安自动驾驶有限公司), CYGG Holding Limited, a wholly owned subsidiary of 58.com Inc. / 58 Group (58集团), and Starwin International A LPF. This diversified lineup, which brings together well-known institutions, internet enterprises, and local state-owned assets, demonstrates the capital market's high recognition of UISEE's (驭势科技) full-scenario L4 technical strength, large-scale commercialization capabilities, and global operational system, as well as a strategic consensus on the long-term value of the autonomous driving track. Prior to this, UISEE (驭势科技) had already secured investments from dozens of VC/PE firms and industrial capital providers, including CAS Star (中科创星), Shanghai Guosheng Group (上海国盛集团), Shenzhen Capital Group / SCGC (深创投), CICC (中金公司), GF Xinde Investment Management Co., Ltd. (广发信德), CDBC Manufacturing Fund (国开制造业基金), Hongtai Aplus (洪泰基金), Bosch Ventures / Bosch (Shanghai) Venture Capital (博世创投), Dongfeng Asset Management (东风资管), CITIC Securities (中信证券), Advantech Capital (尚珹资本), Lan Ting Capital (澜亭资本), Sinovation Ventures (创新工场), Chongqing Science City Investment Holding Co., Ltd. (重科控股), Xinding Capital (新鼎资本), Zhongguancun Longmen Fund Investment Center (中关村龙门基金投资中心), Tengyun Yuansheng (腾云源晟), Liding Capital (力鼎资本), CASH Capital (国科嘉和), Chunxin Hongtu (淳信宏图), ZhenFund (真格基金), Hunan Xiangjiang Investment (湖南湘江投资), Yintai Huaying (银泰华盈), Delta Capital (达泰资本), Keyuan Shenneng Fund (科源申能基金), Xiamen Oak Forest (厦门橡树林基金), Chongqing Liangjiang Strategic Emerging Industry Fund (重庆两江战新基金), and Qingshan Jiye Fund (青山基业基金).
Founded in February 2016, UISEE (驭势科技) focuses on completely unmanned, full-scenario L4 autonomous driving technology. Relying on its self-developed U-Drive® system, the company provides L4 autonomous driving technical services across various industries globally. With its full-scenario universal core autonomous driving technology, the company has firmly established itself as an industry leader in the commercial vehicle sector for enclosed scenarios like airports and factory zones. Its business has steadily extended from enclosed scenarios to open environments, and its service scope has expanded from the logistics field to passenger transport scenarios, covering the deployment of L2 to L4 autonomous driving applications.
According to a Frost & Sullivan report, based on 2025 revenue, UISEE (驭势科技) commands a 90.5% market share in the L4 commercial vehicle autonomous driving market for airport scenarios across the Greater China region. In factory scenarios, it also leads the industry with a 31.7% market share, making it the undisputed leader in the L4 commercial vehicle autonomous driving track.
In airport scenarios, UISEE (驭势科技) is the world's only supplier capable of providing L4 autonomous driving solutions for large-scale commercial airport operations. Since establishing a partnership with Hong Kong International Airport in 2018, its unmanned fleet has accumulated over 3.5 million kilometers of safe operation at the airport, covering all business scenarios including baggage towing, personnel shuttles, and security patrols, setting an industry benchmark for autonomous driving implementation in global aviation. Armed with mature experience from this flagship project, the company's deployment cycle for new airport projects has been reduced to under 6 months, demonstrating rapid global replication capabilities. It has successfully deployed overseas flagship projects such as Singapore Changi Airport and Hamad International Airport. Its cooperation currently spans 17 airports in mainland China and 3 overseas airports, with ongoing advancements to implement partnerships at 4 additional airports globally.
In factory scenarios, UISEE's (驭势科技) end-to-end unmanned logistics solution enables full-process unmanned delivery from indoor to outdoor environments and from raw materials to finished products. Taking the cooperation project with photovoltaic leader Tongwei Group (通威集团) as an example, the company shortened the industry's average deployment time by 40% and boosted production line integration efficiency by 30% through over 70 algorithm iterations. The project achieved over 10,000 hours of accident-free operation with a failure rate below 0.1% under extreme weather, helping the client complete its return on investment within two years. This benchmark project has been successfully replicated at Tongwei's Nantong and Meishan bases and has been widely adopted by photovoltaic industry leaders like JinkoSolar (晶科能源) and JA Solar (晶澳科技), becoming an automated logistics template for the photovoltaic sector. Beyond its two core scenarios of airports and factories, UISEE (驭势科技) has further expanded its AI driver solutions to diverse application fields including cities, ports, mines, farms, and pastures. Its universal technology also extends to high-level intelligent driving for passenger vehicles, earning the favor of leading automakers. As new scenarios continue to land, real-world condition data resources accumulate and expand, continuously empowering algorithm iterations and system generalization capabilities, building a positive flywheel effect where wider scenario coverage leads to more data accumulation and higher technical barriers.
As of the latest practicable date of the prospectus, UISEE (驭势科技) has cumulatively launched 52 adapted vehicle models and deployed over 1,000 units of L4 autonomous driving vehicles or kits globally, with a cumulative unmanned autonomous driving mileage exceeding 9.2 million kilometers. Notably, it has accumulated over 4.63 million kilometers of actual operational data in airport scenarios, establishing the world's largest airport autonomous driving database covering over 3,200 long-tail scenarios.
With mature technical solutions and the industry influence of its benchmark projects, UISEE (驭势科技) has accumulated premium customer resources worldwide, serving a total of 249 industry-leading clients across 6 countries, including 35 Fortune China and Global 500 enterprises covering core industries such as aviation, automobile manufacturing, new energy, and chemicals. According to Frost & Sullivan data, as of the end of 2025, UISEE (驭势科技) ranked first in the industry in terms of both the number of global enterprise customers in airport scenarios and the overseas shipment volume of autonomous driving vehicles. High-barrier scenario-based solutions have generated exceptional customer stickiness and continuous repurchase capabilities. In 2023 and 2024, the company's key customer retention rate reached 75%, with net retention rates at 122.9% and 124.9% respectively, reflecting a continuous increase in purchasing scale from existing clients.
From 2023 to 2025, the company's operating revenue grew from 161 million RMB to 328 million RMB, achieving a high compound annual growth rate of 42.7%. Its gross profit margin remained high for the industry, rising steadily from 48.8% to 51.1% in 2025, which is significantly higher than most Chinese autonomous driving solution providers listed in Hong Kong or the United States. During the same period, its adjusted net loss narrowed continuously from 181 million RMB to 169 million RMB, indicating a clear path toward a profitability turning point. Currently, the company holds a backlog of orders exceeding 500 million RMB, supplemented by 95.2 million RMB in new orders added after the end of 2025. These are scheduled for delivery between 2026 and 2027, providing ample assurance for subsequent revenue growth.
Simultaneously, its globalization strategy has become the company's second growth curve. Currently, UISEE (驭势科技) has established subsidiaries in Singapore and Qatar, while advancing commercial negotiations in multiple countries including Australia, Japan, and South Korea, with plans to expand its business to 30 countries globally within the next three years. Furthermore, UISEE (驭势科技) has obtained the ISO 26262 ASIL-D functional safety certification in the automotive functional safety field issued by TÜV Rheinland, meeting the stringent safety, quality, and data compliance standards of top-tier global clients and establishing a critical entry foundation for high-standard global markets.
This debut on the HKEX Main Board represents a brand-new starting point for UISEE (驭势科技). The company will embrace a more open posture and determined investment to join hands with global clients and partners, continuously driving the large-scale popularization of autonomous driving technology, creating value for the industry, bringing returns to investors, and delivering a safer, more efficient, and more inclusive future for intelligent mobility and logistics worldwide.