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Chinese truckmaker Xuzhou XCMG Automobile Manufacturing Co. is considering a Hong Kong IPO that could raise as much as $500 million as soon as this year, according to people familiar with the matter. The company, based in Jiangsu, is still discussing deal size and timing. XCMG Auto produces heavy-duty trucks, including electric, hybrid and hydrogen fuel-cell models used in logistics, construction, sanitation and mining. It previously raised about 6.4 billion yuan ($940 million) from 30 investors last year. Hong Kong listings have raised $19.4 billion so far this year and could exceed $40 billion in 2026, according to data.