Sample of long-termism in the tide of the times: Yadea (01585) has been listed for ten years, leading the global two-wheeled travel.

May 19th is an important milestone for YADEA (01585) as they mark their tenth anniversary of listing on the Hong Kong Stock Exchange. Ten years ago, they became the first company in the industry to go public, ushering in the capitalization of the electric two-wheeler sector. A decade later, with a performance of over 100 million units sold, nine consecutive years as the global sales leader, and annual revenue of nearly 40 billion RMB, YADEA has proven to the industry that they are not just the leader in scale, but also in value. In the trillion-dollar short- and medium-distance travel market, YADEAs ten years of growth is not only the rise of an industry leader, but also a living example of the long-term realization of value in the industry. Ten years after listing: YADEA's growth in volume and price realizes long-term value On May 19, 2016, when YADEA landed on the Hong Kong Stock Exchange, the electric two-wheeler industry was still in a period of rapid growth characterized by "increased production capacity and falling prices." YADEA, as the first listed company in the industry, ventured into the capital market, in a sense, to test whether a manufacturing company could obtain a brand premium in the capital market. In hindsight, YADEA not only built a financial moat to withstand market cycles, but also successfully transformed themselves from a manufacturing company into a "high-quality growth stock" with platform value and global brand premium. This transformation was supported by earlier strategic groundwork. As early as 2014, the company focused on a "higher-end" strategy, differentiating themselves in quality, design, manufacturing, technology, service, and export dimensions, leading the industrys second Hong Kong-listed company by a full seven years. This seven-year time gap was essentially an early advantage in strategic awareness, laying the foundation for stable growth in the subsequent decade. Looking back over the past decade, YADEA's growth can be roughly divided into three dimensions: Firstly, the consolidation of volume: With over 40,000 global retail stores, YADEA continues to deepen its presence in the domestic market while accelerating its overseas expansion. By 2025, YADEA's annual sales volume is expected to exceed 16 million units, with a year-on-year growth rate of over 25%, sustaining its scale advantage. Secondly, the enhancement of value: Continuously iterating and upgrading the Crown series and Modern series, driving steady growth in product value and transitioning from "mobility tools" to "high-end travel." Thirdly, optimization of efficiency: Implementation of digital supply chain and refined channel management, continuous improvement in asset turnover efficiency and cash flow quality, and ongoing optimization of profit models. The results of these triple drivers were centrally validated in the performance: in 2025, YADEA achieved record-high performance with revenues reaching 37.08 billion RMB, a year-on-year growth of over 31%, and a net profit attributable to shareholders of 2.912 billion RMB, a year-over-year increase of 128.8%. In the secondary market, YADEA's stock price once touched 22.2 Hong Kong dollars (pre-adjustment), bringing multi-fold returns to long-term investors. Citic Haitong predicts that the company's revenue and net profit attributable to shareholders are expected to maintain double-digit steady growth in the years 2026-2028, with growth certainty spanning the medium to long term. Technological Advancement: Over 7.4 billion R&D expenditure in ten years driving industry upgrades YADEAs moat not only lies in sales volume but also in the technological depth accumulated behind that scale. Financial reports show that over the past ten years of being listed, YADEA has invested over 7.4 billion RMB in research and development, establishing six top-tier R&D centers in China, a national-level industrial design center, and four CNAS national-level laboratories, covering the four core modules of energy, intelligence, safety, and vehicle architecture. This scale of investment is rare in the industry. Technological value ultimately needs to be realized in products. In the energy sector, YADEA's research on graphene batteries has reshaped the industry's long-range standards with advantages in lifespan and safety; they are also making advances in sodium-ion batteries, taking the lead in energy innovation. In the field of intelligence, YADEA has introduced advanced configurations such as the Yadea OS intelligent system, iRide intelligent control, TCS2.0, gradually integrating these intelligent experiences into the main models, promoting the popularization of high-end intelligence in the mass market. The aim of this "technological empowerment" is clear - to enhance user experience through intelligence and strengthen product capabilities. At the same time, YADEA continues to leverage its ten major global intelligent research and development bases, efficiently transforming technological innovation into market competitiveness. Frost & Sullivan data shows that YADEA has sold over 100 million units, maintaining the global sales leader for nine consecutive years. Among them, the Crown series has accumulated sales of over 20 million units, becoming an industry benchmark; the Modern series achieved sales of over 2 million units in its first year on the market, establishing itself as a leader in female travel, being rated as the "Top 1 electric two-wheeler brand loved by young women" on Xiaohongshu. Global Advancement: From product export to eco-export, broadening the growth ceiling After firmly establishing themselves as a leader in the domestic market, globalization has become a new growth curve for YADEA. Unlike most domestic brands' product export models, YADEA has transitioned from product output to ecosystem output, entering a new stage of localized research, production, supply, sales, and service chain. In key overseas markets such as Vietnam, Indonesia, Thailand, and Mexico, YADEA has not only established factories but has also replicated mature supply chains, channels, and service systems from China, while adapting to local consumption habits. This ability to flexibly adjust localization is its core competitiveness in globalization. Currently, YADEA's products have entered 100 countries globally and have been frequently seen at events such as the APEC Summit and the Milan International Two-Wheeler Exhibition... This shows that YADEA's globalization is not just about exporting products, but also about building deeper competitive barriers through local production capacity and service networks. Standing at the new starting point of its tenth anniversary of listing, YADEA will hold the "Born Modern - 2026 YADEA Modern Night and Global New Product Launch Event" on May 24th, focusing on showcasing its latest achievements in high-end and intelligent products to the global market. At that time, new models such as Modern Light II, Eiffel II, and Mai Meng PRO will be officially unveiled. From setting the benchmark for long-range endurance with the Crown series to establishing a new standard for female travel with the Modern series, the continuous iteration and upgrade of these two flagship series inject strong momentum into YADEA's growth in high-end, intelligent, and youthful direction. Looking back on the past decade since listing, YADEA's growth logic is clearly visible: laying a solid foundation with forward-looking strategies, driving upgrades through hardcore R&D, creating value with a user-centric approach, and opening up space for global ecological development. Looking ahead to the next decade, the trillion-dollar green travel sector still offers a vast blue ocean, and YADEA will continue to use long-term thinking as a beacon, unleashing the platform value and ecological dividends as an industry leader through a high-end, intelligent product matrix and deep globalization operations. For the capital market, this long-term-oriented leading enterprise is still a high-quality target worth paying close attention to. Disclaimer: The content of this article regarding product features, parameters, design, etc. is for reference only, and specifics should be based on official information from YADEA.