DeepWay’s $173M Pre-IPO Boost: China’s Smart Trucking Vision Hits Hong Kong’s Capital Stage
Chinese trucking technology firm DeepWay Technology Co. just secured about ¥1.2 billion (US$173 million) in a pre-IPO funding round ahead of a planned listing on the Hong Kong Stock Exchange—a milestone that signals growing investor confidence in electrification and autonomous logistics. (chinadailyhk)
This capital infusion, led by heavyweight strategic backers like Temasek-backed ABC Impact, Lenovo Capital, and battery maker Sunwoda Electronic, fortifies DeepWay’s balance sheet and sharpens the startup’s edge as it prepares to go public. (chinadailyhk)
Why This Matters
Founded in 2020 and headquartered in Anhui Province, DeepWay develops electric, smart heavy-duty trucks equipped with assisted-driving tech and intelligent freight solutions designed for the future of logistics. Despite strong revenue growth—about ¥1.5 billion in the first half of 2025—the company hasn’t yet turned a profit, a common state for high-growth tech firms scaling capital-intensive hardware and software stacks. (chinadailyhk)
The pre-IPO round comes as Hong Kong’s capital markets continue to attract Chinese tech and hard-tech listings, helping diversify beyond traditional sectors like finance and real estate. Analysts see DeepWay’s forthcoming IPO as part of a broader trend where technology, manufacturing and innovation plays are gaining traction among global investors. (chinadailyhk)
DeepWay’s Strategic Position
DeepWay is not just another truck maker; it’s part of China’s push toward new-energy vehicles (NEVs) and autonomous commercial transport—two areas that are drawing massive venture and institutional investment. The company also benefits from alliances with major investors and strategic backers, including early support from tech giant Baidu Inc. and other venture partners. (chinadailyhk)
This backing gives DeepWay access to core technologies and boosts its credibility in a crowded field where electrification and AI-driven logistics solutions are fast becoming competitive differentiators. (ChinaBiz Insider)
Challenges and Opportunities Ahead
While the funding round is a sign of bullish sentiment, DeepWay’s path to profitability isn’t guaranteed. Heavy-duty electric trucks and intelligent freight systems require deep R&D investments, supply chain scaling, and infrastructure ecosystem development. Still, the fresh capital, if paired with a successful IPO, could power deeper market expansion into Southeast Asia, the Middle East, and Australia, as well as intensified product refinement. (ChinaBiz Insider)
The broader backdrop is favorable: demand for new-energy heavy trucks in China is surging, with market forecasts predicting accelerated penetration of electrified freight vehicles over the next decade. This creates an opportunity for DeepWay to emerge as a leader in a sector where global incumbents are also vying for share. (ChinaBiz Insider)
Glossary of Key Terms
- Pre-IPO funding – Capital raised by a company before its initial public offering to strengthen operations, R&D, or market expansions.
- New-Energy Vehicle (NEV) – Vehicles powered by alternative energy sources like electricity or hydrogen instead of traditional internal combustion engines.
- Assisted driving – Technologies that help drivers with functions like lane-keeping and adaptive cruise control, typically classified as Level 1-2 automation.
- Hong Kong Stock Exchange (HKEX) – One of Asia’s leading public markets where companies list shares to raise investment from global capital.
Source: https://www.techinasia.com/news/chinese-trucking-tech-firm-deepway-raises-173m-before-hk-ipo
