On April 22, 2026, Nanjing Lingxing Technology Co., Ltd. (referred to as 'T3 Mobility' or 'Lingxing Technology'), the parent company of T3 Mobility headquartered in Jiangning District, Nanjing, Jiangsu Province, submitted its prospectus to the Hong Kong Stock Exchange for a planned listing on the Main Board of Hong Kong.
Link to T3 Mobility’s prospectus:
https://www1.hkexnews.hk/app/sehk/2026/108458/documents/sehk26042202190_c.pdf
Main Business
Lingxing Technology, established in 2019, primarily connects passengers, drivers, and vehicles through the T3 platform, offering a range of intelligent mobility services. The T3 platform, as a technology-driven platform, integrates AI into mobility services to optimize demand forecasting, vehicle dispatching, and resource allocation—referred to as the 'AI + Mobility' model—enhancing smart dispatch, safety assurance, and driver-passenger service quality. The company’s operations are supported by leading entities such as China FAW Group, Dongfeng Motor Corporation, Changan Automobile, as well as Tencent and Alibaba.
According to data from CIC Consulting, T3 Mobility has developed China’s first hybrid dispatch platform capable of coordinating both human-driven vehicles and Robotaxis simultaneously, positioning itself with a first-mover advantage in the transition towards autonomous driving mobility. As of December 31, 2025, T3 Mobility operates in 194 cities across China, serving over 234.5 million registered users. T3 Mobility’s vehicle network comprises approximately 1.4 million registered vehicles, the vast majority of which are new energy vehicles mainly owned by third parties (such as drivers and vehicle service providers). In 2025, T3 Mobility facilitated 797.2 million orders with a total transaction value of RMB 18.9 billion.
According to data from CIC Consulting:
In terms of order volume in 2025, T3 Mobility ranked as the third-largest intelligent mobility platform in China;
T3 Mobility is China’s fastest large-scale intelligent mobility platform to achieve profitability.
T3 Mobility’s revenue primarily comes from providing ride-hailing services to individual passengers via its proprietary platform. Passengers pay the full fare through the T3 platform, and the company pays drivers service fees for completed trips, recording driver-related costs as cost of sales. T3 Mobility’s platform matches passengers with drivers, optimizes routes and dispatching, and ensures efficient fulfillment at scale. Additionally, T3 Mobility generates revenue by offering other services and earns rental income through vehicle leasing. Looking ahead, the company plans to further expand its service offerings and ecosystem through the gradual commercialization of Robotaxis while also intending to collaborate with one-stop AI portals to develop more forward-looking and scenario-based mobility services.
By the end of 2025, a fleet of over 300 Robotaxis had been integrated into the company’s platform, conducting L4-level autonomous driving road tests in Nanjing and Suzhou. As of April 20, 2026, the company’s Robotaxi fleet had completed over 41,000 kilometers of road testing without safety officers.
Shareholder Structure
The prospectus shows that, prior to T3 Mobility's listing in Hong Kong,
Nanjing Linghang Investment, as the GP of Nanjing Linghang Partnership, holds 75.54% of the shares and is the controlling shareholder.
Directors and senior management
T3 Mobility’s board of directors will consist of nine members, including:
One Executive Director
Mr. Cui Dayong (Chief Executive Officer);
Five non-executive directors
Mr. Liao Xianzhi (Chairman of the Board, General Manager of the Financial Control Department of Dongfeng Motor Group);
Mr. Lu Zhigao (General Manager of FAW Equity Investment (Tianjin));
Mr. Yu Weidong (General Manager of Changan Automobile's Key Account Business Department);
Mr. Deng Liuchao (Deputy General Manager of Dongfeng Yipai Automobile Sales (Wuhan) and General Manager of Fengshen Marketing Division);
Ms. Yang Mei (Executive Partner of Shanghai Rongxun Asset Management).
Three independent non-executive directors
Mr. Jiahong Yang (Chief Financial Officer of EHang Holdings Limited (EH.US));
Mr. Yunfei Chen (Former Independent Director of Dongfang Automobile Group);
Ms. Xiaohui Tao (Associate Professor, International Business School, Jinan University).
Joint Company Secretary:
Mr. Kai Cheng (Joint Company Secretary, Chief Strategy Officer).
Company performance
The prospectus shows that in the fiscal years 2023, 2024, and 2025, T3 Mobility's revenue amounted to RMB 14.896 billion, RMB 16.104 billion, and RMB 17.109 billion, respectively. The corresponding net profits were RMB -1.968 billion, RMB -690 million, and RMB 7.44 million, respectively. The adjusted net profits were RMB -1.953 billion, RMB -675 million, and RMB 52.999 million, respectively.
Intermediary team