New stock news | Tagoon Intelligence sent an application to the Hong Kong Stock Exchange, dedicated to the commercialization of autonomous driving applications.

According to the Hong Kong Stock Exchange disclosure on May 20th, TG Intelligent Drive Technology Co., Ltd. (TG Intelligent Drive) has submitted an application for listing on the main board of the Hong Kong Stock Exchange, with Huatai International as the sole sponsor. Company Profile TG Intelligent Drive is a pioneer and leader in unmanned transportation in the mining industry, focusing on providing safe, green, efficient, and economical unmanned transportation solutions and services for customers in enclosed environments such as open-pit mines. The company's "Vehicle-Ground-Cloud" mining unmanned transportation system "Kuanggu" is driven by three proprietary AI-based models, covering end-to-end unmanned driving, multi-agent scheduling and control, and equipment lifecycle management. TG Intelligent Drive is committed to commercializing unmanned driving applications and has been at the forefront of innovation in unmanned mining transportation since its establishment in 2016. According to data from Insight Consultancy, in 2018, the company transformed China's first unmanned mining wide-body truck and first unmanned rigid mining truck; in 2020, it deployed China's first unmanned open-pit mining project with safety personnel off the vehicle; in 2022, it deployed China's first batch of L4-level unmanned transportation open-pit mining projects with multiple rigid mining trucks cooperating in operation. In 2024, the company successfully deployed the self-developed 100-ton hybrid electric unmanned mining wide-body truck (TG136 HA) on a large scale in northwest China. TG Intelligent Drive maintains long-term relationships with several large mining operators (including China Energy Group, Jiangxi Copper, Yiwu Guanghui, and Baotou Iron and Steel). As of December 31, 2025, the company has provided services for 31 intelligent open-pit mining projects in China, covering Xinjiang, Inner Mongolia, Jiangxi, Guangdong, and Heilongjiang. Several key customers and shareholders provide strategic support for the company's long-term development, including State Energy Fund Management. Financial Information Revenue: In the fiscal years 2023, 2024, and 2025, the company's revenue was approximately RMB 190 million, RMB 152 million, and RMB 527 million, respectively. Annual Loss and Comprehensive Spending Total: In the fiscal years 2023, 2024, and 2025, the company's annual losses were approximately RMB 313 million, RMB 345 million, and RMB 164 million, respectively. Gross Profit: In the fiscal years 2023, 2024, and 2025, the company's gross profit was approximately -RMB 47.178 million, -RMB 69.213 million, and RMB 25.297 million, respectively. Industry Overview The progress of AI, V2X communication, and cloud computing is steadily improving the precision and reliability of vehicle perception, decision-making, and execution. These improvements are driving the advancement of automated driving from assisted driving to L4-level unmanned driving, focusing on enhancing safety, efficiency, and cost-effectiveness to systematically reshape the transportation system in various industries. L4 unmanned driving has entered the stage of practical verification and is accelerating towards commercialization in a series of specific scenarios. Unlike open roads that present complex and constantly changing conditions, specific scenarios such as mines, factories, closed parks, airports, and ports typically have fixed operating routes and low-speed driving characteristics. These characteristics significantly reduce the complexity and uncertainty of deploying unmanned driving, allowing technology to focus on solving actual business pain points: achieving continuous, efficient, and safe operation of unmanned vehicles in environments facing cost pressures or increased safety risks, thus generating high economic returns. Therefore, there is an urgent demand for L4 unmanned driving in these scenarios, providing a favorable environment for continuous technological iteration and commercialization. By 2030, based on revenue, the potential total market value of unmanned driving vehicles in these scenarios is estimated to reach: RMB 1,170.8 billion in mining scenarios, RMB 514.6 billion in factory and closed park scenarios, RMB 134.2 billion in airport scenarios, and RMB 64.9 billion in port scenarios. The global mining unmanned transportation solution industry has transitioned from concept verification to large-scale commercial deployment. The need for mining companies to make mining operations more intelligent, economical, and safe has become one of the core DRIVES of industry growth. Therefore, the global market has expanded from RMB 900 million in 2021 to RMB 8.6 billion in 2025, with a compound annual growth rate of 78.0%, and is expected to reach RMB 56.5 billion by 2030, with a compound annual growth rate of 45.7%. Under the continuous promotion of smart mining construction policies, leading energy and mineral enterprises in China are accelerating the layout of unmanned transportation solutions. At the same time, the demand for improving transport efficiency and reducing safety risks in mining operations is urgent. These factors together drive the Chinese market to become a core component of the global market. In 2025, the Chinese market for unmanned mining transportation solutions reached RMB 4 billion, accounting for over 46.0% of the global market. It is estimated that by 2030, the market size will continue to grow at a compound annual growth rate of 50.7% to reach RMB 30.9 billion. On the overseas front, Central Asia and Africa the main participating regions of the "Belt and Road" initiative along with Australia and South America the main supply areas of key mineral resources together form strategic markets for mining unmanned transportation solutions and are expected to continue to drive global market expansion. The overseas market reached RMB 4.6 billion in 2025 and is expected to increase to RMB 25.6 billion by 2030, with a compound annual growth rate of 40.8%. Board of Directors Information The company's board of directors consists of nine directors, including four executive directors, two non-executive directors, and three independent non-executive directors. Equity Structure According to the 2026 Joint Action Agreement and the Beihang University Education Foundation Joint Action Agreement, Professor Yu, Ningbo Tango, Mr. Zhou, and Beihang University Education Foundation jointly exercise voting rights at the company's shareholders' meeting. Therefore, Professor Yu, Mr. Zhou, and Beihang University Education Foundation are considered to collectively hold interests in the shares held by these joint action parties. As of the last practicable date, Professor Yu is the sole general partner of Ningbo Tango, Dalian Tango holds a 59.77% interest in Ningbo Tango, and Mr. Zhou is a general partner of Dalian Tango. Therefore, according to the Securities and Futures Ordinance, Professor Yu, Mr. Zhou, and Dalian Tango are each considered to have an interest in the shares held by Ningbo Tango. Intermediary Team Sole Sponsor: Huatai Financial Holdings (Hong Kong) Limited Company's Legal Advisors: Gallant Y.T. Ho & Co., Jun He Law Office, Ashurst Tokyo (Ashurst Horitsu Jimusho GaikokuhoKyodo Jigyo) Legal Advisors for Sole Sponsor: Norton Rose Fulbright Hong Kong, Zhong Lun Law Firm Auditor and Reporting Accountant: Deloitte Touche Tohmatsu Certified Public Accountants Industry Consultant: Insight Industry Consulting Co., Ltd. Compliance Consultant: Marsh Capital Limited