The China Securities Regulatory Commission (CSRC) has approved Anaida's application to list on the Shanghai Stock Exchange main board.

On March 7, the China Securities Regulatory Commission issued the "Approval on the Initial Public Offering of Shares of Ananda Drive Technology (Shanghai) Co., Ltd." Ananda intends to list on the main board of the Shanghai Stock Exchange, with Zhongtai as the sponsor, planning to raise 1.039 billion yuan. According to the prospectus, Ananda is a high-tech enterprise specializing in the research and development, production, and sales of electric drive systems for electric two-wheeled vehicles. The company's products include three series of motors: direct drive hub motors, reduction hub motors, and central motors, as well as controllers, sensors, meters, and other components that match the motors, mainly used in electric bicycles, electric assisted bicycles, electric motorcycles, electric scooters, and other electric two-wheeled vehicles domestically and internationally. After years of technical research and production sales practice, the company has become one of the few enterprises in the industry with the capability to research and produce electric drive systems such as motors, controllers, sensors, and meters. During the reporting period, Ananda's customers mainly include domestic electric two-wheeled vehicle brands such as Yadea, Aima, and Tianjin, as well as European well-known electric assist bicycle customers such as MFC and Accell. Ananda's direct drive hub motor products have market shares of 7.06%, 7.80%, and 7.23% respectively in China. The direct drive hub motor industry is technologically mature and highly competitive, and the company holds a higher market share. From 2020 to 2022, the company's central motor and reduction hub motor products had market shares of 4.87%, 8.78%, and 8.08% in Europe. The sales of the central motor and reduction hub motor products are growing, and their market shares are in a rapid growth trend. In terms of financials, in 2020, 2021, and 2022, Ananda achieved operating revenues of approximately 769 million yuan, 1.18 billion yuan, and 1.398 billion yuan respectively. During the same period, the company achieved net profits of 78.1388 million yuan, approximately 129 million yuan, and approximately 151 million yuan respectively.