New Stock News | Zhejiang Taotao Vehicles (301345.SZ) passes HKEX hearing, ranking first in the global low-speed electric vehicle industry.

According to a disclosure by the Hong Kong Stock Exchange on September 7, Zhejiang Taotao Vehicles Co., Ltd. (referred to as: Zhejiang Taotao Vehicles, 301345.SZ) has passed the main board listing hearing, with CITIC SEC acting as its sole sponsor. According to data from Frost & Sullivan, by revenue, Zhejiang Taotao Vehicles is projected to rank first in the global electric low-speed vehicle industry in 2025, with a market share of approximately 10.9%. The prospectus shows that Zhejiang Taotao Vehicles is committed to providing outdoor leisure and electric mobility solutions, with products sold in over 90 countries and regions. The company's international market position is driven by a comprehensive product portfolio that includes electric mobility products and power sports products, supported by a large customer base in leisure, commuting, and functional use scenarios. Zhejiang Taotao Vehicles' business dates back to 2004, when its main initiator, Taotao Group, began operating a business division focused on all-terrain vehicles and off-road vehicles. The company was established on September 24, 2015, and subsequently acquired relevant inventory and machinery from Taotao Group in 2016. Initially, Zhejiang Taotao Vehicles focused on the research and development, production, and sales of all-terrain vehicles and off-road motorcycles. In 2017, the company strategically expanded its product portfolio and initiated mass production of electric scooters, electric balance bikes, and electric bicycles to seize new opportunities arising in the electric mobility industry. In 2022, the company further broadened its electric mobility product line by introducing electric low-speed vehicles. The company occupies a leading position in the electric low-speed vehicle market, dedicated to the design, manufacturing, and distribution of outdoor leisure and electric mobility products. Its diversified product portfolio enables the company to provide practical solutions for outdoor travel and leisure. The companys business encompasses two segments: (i) electric mobility products, including (a) electric low-speed vehicles designed for short-distance travel in communities and (b) electric two-wheelers, including electric bicycles, electric scooters, and electric balance bikes; and (ii) outdoor specialty vehicles, also known as power sports products, including all-terrain vehicles and off-road motorcycles. The companys products are designed for community short-distance travel, recreational sports, smart mobility, and special operational scenarios. Since its establishment, the company has been building a production and operation network centered around the United States, covering several specific overseas markets. The company operates three core production bases in China, Vietnam, and the United States. On this basis, the company is constructing a multi-regional manufacturing system characterized by localized production and supply. Leveraging the management team's over twenty years of international operation experience, the company has established operations in North America, Southeast Asia, and China, and built localized production and sales networks in each region. This integrated layout of "China + Southeast Asia + North America" allows the company to quickly respond to customer needs, adapt to local regulations, develop products that meet regional demands, and provide localized sales and after-sales support. Zhejiang Taotao Vehicles has established a layered proprietary brand matrix targeting different user groups and channels, covering four major brands: DENAGO, GOTRAX, TEKO, and TAO MOTOR. This matrix achieves precise coverage of core customer groups and forms brand synergy through differentiated positioning and operations. In terms of financials, the company achieved revenues of approximately 2.144 billion RMB (the same currency hereinafter), 2.977 billion RMB, 3.941 billion RMB, and 1.591 billion RMB for the four months ending April 30, 2026, for the fiscal years of 2023, 2024, 2025, and 2026, respectively. During the same period, profits recorded were approximately 280 million RMB, 431 million RMB, 816 million RMB, and 292 million RMB, respectively.