On May 22, 2026, EnjoyGo Technology Limited, operating as "享道出行" and based in Shanghai, submitted its IPO prospectus to the Hong Kong Stock Exchange, aiming for a listing on the Main Board. This marks a renewed application following the lapse of its previous submission on October 28, 2025.
The company, established in 2018 by the automotive giant SAIC Motor Corporation, is a multi-scenario smart mobility integrator in China. It operates a service platform covering personal travel, corporate travel, and Robotaxi services through offerings such as ride-hailing, vehicle leasing, vehicle sales, and Robotaxi operations.
According to Frost & Sullivan data, based on Gross Transaction Value (GTV) in 2025, 享道出行 ranked sixth among domestic ride-hailing platforms with a market share of 1.8%, and fifth by completed orders. In Shanghai's ride-hailing market, it held the third position with an 11.0% market share by GTV and second by completed orders. In China's corporate travel service sector, the company ranked second with a 2.2% market share.
During its development, 享道出行 has attracted key strategic investors from the industry chain, including Momenta, AutoNavi, and CATL, enabling it to connect and integrate resources from automakers, autonomous driving solution providers, high-precision digital mapping services, and power battery system suppliers. Leveraging these partnerships, the company possesses unique advantages in consolidating the critical capabilities underpinning the mobility industry.
For ride-hailing services, the company operates through its proprietary "享道出行" app, serving individual and corporate users nationwide. Its footprint has gradually expanded from Shanghai to the Yangtze River Delta region and further into other parts of China. As of December 31, 2025, its ride-hailing services covered 100 cities in China, achieving an average of over 650,000 daily orders and a GTV of approximately RMB 6.2 billion for the year. Currently, the company owns and operates over 5,300 compliant ride-hailing vehicles in Shanghai.
Through its vehicle leasing brand "享道租车," the company provides corporate clients with integrated solutions encompassing long-term rentals and short-term premium chauffeur services. The vehicle leasing operations are managed by Anji Leasing, established in 1992 as Shanghai's first car rental company. As of December 31, 2025, its vehicle leasing services extended across 26 provinces in China, covering major metropolitan clusters such as the Yangtze River Delta, Beijing-Tianjin-Hebei, and the Pearl River Delta.
Under the "享道Robotaxi" brand, the company provides Robotaxi operational services within designated policy pilot zones in Shanghai and Suzhou. SAIC Motor will supply the Robotaxi vehicles based on the company's product definitions and provide comprehensive support. Furthermore, the company maintains deep collaborations with autonomous driving solution providers like Momenta, which focuses on developing L4-level autonomous driving algorithms, while 享道出行 concentrates on R&D for Robotaxi dispatch and safety monitoring systems.
享道出行 is currently in the exploration phase for the commercialization and scaling of Robotaxi services. In July 2025, it obtained an Intelligent Connected Vehicle Demonstration Operation License ("Demonstration Operation License") in Shanghai. In August 2025, in cooperation with SAIC Motor, it initiated a trial operation of an L4-level Robotaxi tourist route connecting Shanghai International Tourism and Resorts Zone to Pudong International Airport via expressways. According to Frost & Sullivan, this is set to become China's first L4-level autonomous mobility service project centered around a premier cultural and tourism application scenario. The company plans to achieve scaled commercial operations for 享道Robotaxi in multiple Chinese cities by 2027.
According to the prospectus, before the Hong Kong listing, SAIC Motor Corporation and Changzhou Saike collectively hold a 75.37% stake in the company, making them the controlling shareholders. Other shareholders include Alibaba, Momenta, Shanghai Yixiang, Jiading Automobile City, Guangqi Huichan, and CATL, among others.
The board of directors consists of nine members: one executive director, Mr. Ni Licheng (CEO); five non-executive directors, including Mr. Wu Bing (Chairman, Vice President of SAIC Motor and General Manager of the Mobility and Services Business Unit), Dr. Wang Zemin, Ms. Zhao Dimei, Ms. Sun Huan, and Mr. Zhou Haijing; and three independent non-executive directors: Mr. Huang Wenkai, Dr. Wang Gao, and Dr. Zeng Saixing.
Senior management, besides the executive director, includes: Mr. Jiang Jiong (Deputy CEO); Mr. Zong Jinliang (CTO); Mr. Sui Liming (COO); Ms. Huang Qingqing (General Manager of Finance Department); and Mr. Li Yi (General Manager of Investment, Financing & Strategic Planning Department and Joint Company Secretary).
Financial performance for 2023, 2024, and 2025 shows revenues of RMB 5.718 billion, RMB 6.395 billion, and RMB 6.774 billion, respectively. Corresponding net losses were RMB 604 million, RMB 407 million, and RMB 246 million.
The intermediary team for the IPO includes CICC and Guotai Junan International as joint sponsors, PwC as auditor, King & Wood Mallesons as the company's PRC legal counsel, Linklaters as its Hong Kong and U.S. legal counsel, Tongshang as the sponsor's PRC legal counsel, Cooley as the sponsor's Hong Kong and U.S. legal counsel, Maxim Capital as the compliance advisor, and Frost & Sullivan as the industry consultant.
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