▲GAC Group Chairman Zeng Qinghong (right) and ONTIME CEO Jiang Hua (left) strikes the gong to celebrate the listing of OnTime Mobility in Hong Kong.

 

On July 10, a listing ceremony of ONTIME (09680.HK) was held in Hong Kong, marking the public listing and trading of its shares on the Main Board of the Hong Kong Stock Exchange. Lai Zhihong, Vice Mayor of Guangzhou, Qiu Yitong, Deputy Director of the Financial Committee Office of Guangzhou Municipal Party Committee, Shen Ying, Director of Guangzhou Municipal Transportation Bureau, Liang Lingfeng, Director of State-owned Assets Supervision and Administration Commission of Guangzhou Municipal Government, Zeng Qinghong, Chairman of GAC Group, Feng Xingya, President of GAC Group, Zhong Xiangping, Vice President of Tencent, Jiang Hua, CEO of ONTIME were the officiating guests of the ceremony, witnessing ONTIME embarking on its new journey for high-quality development.

 

▲Jiang Hua stated that OnTime Mobility will deepen its autonomous driving exploration

 

At the ceremony, Jiang Hua said that ONTIME will take the listing as a starting point and deepen its autonomous driving exploration, so as to repay the consumers, clients and investors with high-quality services and performance. Jiang Hua emphasized the position of ONTIME as a service provider and the linkage among various stakeholders in the mobility industry. Based on its high-quality data closed loop featuring distinct advantages, ONTIME is driving the R&D and iteration of Chinese autonomous driving technology in China, and accelerating the large-scale commercialization of autonomous driving technology.

 

▲Group photo of guests at OnTime Mobility's listing ceremony

 

Since its foundation 5 years ago, ONTIME has been committed to providing efficient and high-quality mobility services to more areas. As of December 31, 2023, ONTIME 's business network has covered 24 cities, with nine of them being the focus and mainly located in the Greater Bay Area (GBA). According to Frost & Sullivan, ONTIME 's mobility service ranks second in the GBA in terms of transaction value in 2023, with a market share of 5.6% and a user penetration rate of more than 45% in the GBA, which ranks second in the GBA.

 

 

As of December 31, 2023, ONTIME 's registered users on its platform reached 23.8 million, and the company's total revenues over the past three years were 1.013 billion RMB, 1.368 billion RMB, and 2.161 billion RMB respectively, with a compound annual growth rate of 46%.

 

 

Based on its strategy of providing mobility services and promoting the commercialization of autonomous driving technology, ONTIME has successfully maintained high efficiency and quality development over the past 5 years. ONTIME completed the financing of seed round, series A and series B in 2019, 2022 and 2023 respectively. The listing has received cornerstone investments from investors including GAC Industry, Pony.ai, Voyager (Didi's autonomous-vehicle subsidiary) and WeRide.