ZYT, also known as Zhuoyu Technology, is raising a pre-IPO round of about RMB 2 billion ($280 million) at a pre-money valuation of around RMB 12.5 billion ($1.74 billion), according to EqualOcean Auto. The report added that the company is also planning a Hong Kong listing this year.
The company was originally established in 2016 as Chinese drone maker DJI’s automotive subsidiary focused on intelligent driving technology. It was spun out from DJI in 2023 and formally adopted the Zhuoyu brand in June 2024. In November 2025, Zhuoyu said it had received more than RMB 3.6 billion in strategic investment from FAW Group. [EqualOcean Auto, in Chinese]
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