New Stock News | TAOTAO submits application to Hong Kong Stock Exchange, electric low-speed vehicle sales rank among the top in the global market

According to the Hong Kong Stock Exchange's disclosure on October 31, TAOTAO (301345.SZ) has submitted a listing application to the main board of the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor. The prospectus shows that the company is a global leader dedicated to providing outdoor leisure and electric mobility solutions. According to Frost & Sullivan, the company ranks second in the global electric low-speed vehicle industry by revenue in 2024, with a global market share of approximately 8.4%. The company offers innovative solutions that combine entertainment and practicality through an industry-leading diversified product portfolio. Its business covers two major segments: (1) electric mobility products, including (i) electric low-speed vehicles that meet the growing demand for short-distance travel in communities and venues, and (ii) electric two-wheelers, including electric bicycles, electric scooters, and electric balance bikes; and (2) outdoor specialty vehicles, also known as powered sports, including all-terrain vehicles and off-road motorcycles. These products are widely used in community short-distance commuting, recreational sports, smart mobility, and special operation scenarios. Based on its deep technological foundation, the company is actively expanding into cutting-edge fields such as humanoid robots, aiming to open up new long-term growth avenues. According to Frost & Sullivan, the company is a leading player in the "going global" trend of China's electric mobility industry. In 2024, over 99% of the company's revenue comes from overseas markets, with the United States being the largest export destination. The company's development follows a clear strategic framework: expanding the product matrix, deepening the channel ecosystem, and driving brand value enhancement through innovation. Under this strategic guidance, the company continues to optimize its existing product portfolio while actively nurturing new engines for sustainable growth. Since the company launched its electric low-speed vehicle products in 2022, precise market positioning, a broad marketing network, and a diversified brand matrix have helped this emerging business line achieve rapid breakthroughs. Within three years of the company's release of electric low-speed vehicles, its sales have ranked among the top in the global market, demonstrating strong market penetration. In terms of performance, the company's revenue for the years ending December 31, 2022, 2023, and 2024, as well as for the seven months ending July 31, 2024, and 2025, were RMB 1,765.7 million, RMB 2,144.2 million, RMB 2,976.6 million, RMB 1,677.5 million, and RMB 2,068.4 million, respectively