CIDI-NEW (03881) saw its shares rise more than 12% during the morning trading session. At the time of writing, the stock was up 7.57%, trading at HKD 27.3, with a turnover of HKD 39.52 million.

The increase follows the recent formal signing of a strategic cooperation agreement between CIDI-NEW and Schaeffler. The partnership will focus on commercial vehicles such as pure electric intelligent mining trucks and logistics vehicles. Collaboration will center on vehicle electronic and electrical architecture, distributed vehicle control, and other distributed electric drive systems and solutions. The joint effort aims to promote the electrification and intelligent transformation of commercial vehicles and establish a benchmark cooperative model for intelligent commercial scenarios.

Driven by policy, technology, and specific application scenarios, China's commercial vehicle industry is undergoing a profound transformation towards electrification and intelligence. Demand for intelligent solutions in areas like mining trucks and logistics within enclosed zones is continuously rising.

Dr. Ma Wei, Co-Founder of CIDI-NEW, stated that the electrification and intelligence of commercial vehicles are inevitable industry trends and rigid requirements. Leveraging mature full-stack autonomous driving technology and the capability for large-scale commercial deployment in essential scenarios such as mining areas, ports, and industrial parks, CIDI-NEW will deeply integrate the resource advantages of both parties. The company is committed to continuously creating tangible, high-efficiency core value for customers and comprehensively contributing to safer, more efficient, and more reliable commercial vehicle transportation and operations.