Beijing (Gasgoo)- Chenqi Technology Limited (ONTIME) celebrated its listing ceremony in Hong Kong on July 10, marking the official trading of its shares on the main board of the Hong Kong Stock Exchange.
Photo credit: ONTIME
Established in June 2019 by GAC Group and Tencent, ONTIME started its operations in Guangzhou and later welcomed autonomous driving solution provider Pony.ai as a strategic shareholder. The company offers various services including ride-hailing (traditional taxi service and Robotaxi), technical services (AI data and model solutions, high-precision mapping), and comprehensive support for drivers and fleet operators.
ONTIME took a pioneering step in the commercialization of autonomous driving technology by launching its open Robotaxi operating platform in 2022. It became the first platform globally to integrate human-driven ride-hailing and Robotaxi services, currently operating in central urban areas of Guangzhou and Shenzhen.
ONTIME Robotaxi; photo credit: ONTIME
In addition to its own Robotaxis, ONTIME’s platform includes Robotaxi fleets from GAC R&D Center and Pony.ai. By the end of December 31, 2023, ONTIME’s Robotaxi fleet consisted of 281 vehicles, the largest among ride-hailing platforms in China, with a cumulative 20,080 operating hours, 545 service stations, and 450,699 kilometers of safe trial operation.
Utilizing data from its mobility services and insights into autonomous driving commercialization, ONTIME introduced an AI data and model solution that streamlines data collection, model training, feature extraction, data management, and model optimization efficiency, while simplifying the integration of 2D and 3D data.
Within five years of its inception, ONTIME has expanded to offer efficient, high-quality mobility services in 24 cities, with core operations in 9 cities, mainly in the Guangdong-Hong Kong-Macao Greater Bay Area.
As of December 31, 2023, ONTIME had 23.8 million registered users. The company’s annual revenue surged from 1.013 billion yuan in 2021 to 1.368 billion yuan in 2022, and 2.161 billion yuan in 2023, showcasing a compound annual growth rate of 46.0%.
ONTIME’s commitment to mobility services and autonomous driving commercialization has fueled its rapid and high-quality growth over the past five years. The company has successfully completed multiple funding rounds, attracting cornerstone investments from GAC Industry, Pony.ai, Voyager (DiDi Autonomous Driving), and WeRide.
