Changes in Hong Kong stocks | Sidi Smart Driving (03881) broke the intraday market hit a sharp drop of more than 15% and lost 455 million yuan in the first half of the year

The Zhitong Finance App learned that Sidi Smart Drive (03881) was first listed. After opening flat this morning, it fell below the release price. At one point, it fell more than 15% in the intraday market. As of press release, it decreased by 9.73% to HK$237.4, with a turnover of HK$177 million.

According to public information, Sidi Smart Driving is a supplier of intelligent driving products and solutions for commercial vehicles in China. The company was founded in 2018 and focuses on research and development of closed environment autonomous trucks, V2X (vehicle-road collaboration) technology and intelligent sensing solutions for mining and logistics, and provides products and solutions based on proprietary technology. According to Insight Consulting, Sidi Smart Driving ranked 6th among all smart driving commercial vehicle companies in China, with a market share of about 5.2%.

On the financial side, for 2022, 2023, 2024 and the first six months of 2025, revenue was RMB31.06 million, RMB133 million, RMB410 million and RMB408 million, respectively; losses were RMB263 million, RMB255 million, RMB581 million and RMB455 million respectively. The prospectus mentioned that the aforementioned losses were mainly due to the company's continued investment in research and development, continued increase in net financial costs, and financial costs related to investments in preferential rights financial instruments measured at amortized costs.