New Stock News | Easy Control Smart Drive passes hearing the Hong Kong Stock Exchange to become China's largest provider of autonomous driving solutions for the mining sector.

According to the disclosure from the Hong Kong Stock Exchange on June 24th, Easy Control Autonomous Driving Technology Co., Ltd. (referred to as Easy Control Autonomous Driving) has undergone a listing hearing on the Main Board of the Hong Kong Stock Exchange, with Haitong International as its sole sponsor. According to the prospectus, Easy Control Autonomous Driving focuses on the commercial deployment of autonomous driving solutions in mining areas, and is one of the early entrants into the field of autonomous mining transport. The company's solutions are specifically designed for large open-pit mines with complex environments, limited manpower supply, and strict safety requirements. According to Frost & Sullivan data, based on revenue projections for 2025, the company is ranked first in the Chinese commercial vehicle intelligent driving market; based on the number of active autonomous mining trucks as of December 31, 2025, the company is also the largest provider of autonomous mining solutions in China, with a market share of approximately 37.6% based on revenue projections for 2025. As of December 31, 2025, the company has deployed a fleet of 2580 active autonomous mining trucks. The company provides fully integrated solutions for large mining operations by offering two core solution packages: (i) closed-environment autonomous mining truck products and solutions (Zhuoshan) and (ii) mine digital solutions (Mu Ye). The company partners with qualified OEM manufacturers to produce autonomous mining trucks according to the company's specifications, while also developing and integrating autonomous driving systems and core control components. These trucks are deployed on-site as part of the comprehensive solution, and the company generates revenue primarily from service fees charged to mining companies or their appointed contractors. The company recognizes the potential for large-scale implementation of autonomous driving in mining areas and has quickly established a presence in the Chinese market for mining area autonomous driving solutions. As of December 31, 2025, the company's solutions have been deployed in 19 out of 41 open-pit coal mines in China with an annual approved capacity exceeding 10 million tons, as well as in 7 out of the 12 largest open-pit coal mines based on annual approved capacity. With long-standing and good cooperation relationships with top mining enterprises, the company has built a stable customer base, as reflected in maintaining a 100% retention rate among all end customer groups for three consecutive years from 2023 to 2025. In 2023, 2024, and 2025, the company served 13, 24, and 52 customers respectively. As of December 31, 2025, there were a total of 11 single-mine projects with over 100 autonomous mining trucks deployed nationwide, with 9 of them using the company's solutions. Additionally, as of December 31, 2025, the fleet of autonomous mining trucks deployed in a single mine where the company's solutions operate has grown to over 500, making it the largest autonomous mining truck fleet deployed in a single mine globally. In terms of financials, for the years 2023, 2024, and 2025, the company achieved revenues of approximately 271 million yuan, 986 million yuan, and 1.435 billion yuan respectively. For the years 2024 and 2025, the company's gross profit was approximately 74.713 million yuan and 145 million yuan respectively.