Zhejiang Taotao Vehicles Co., Ltd. (301345.SZ) has submitted a listing application to the Main Board of the Hong Kong Stock Exchange (HKEX), with CITIC Securities acting as the sole sponsor. According to the prospectus, the company is a global leader in providing outdoor recreation and electric mobility solutions.
Frost & Sullivan data shows that, by revenue, the company ranked second in the global low-speed electric vehicle (LSEV) industry in 2024, capturing approximately 8.4% of the market share. Its diversified product portfolio delivers innovative solutions combining entertainment and practicality.
The company operates two main business segments: (1) Electric mobility products, including (i) LSEVs catering to short-distance community and facility transportation needs, and (ii) electric two-wheelers such as e-bikes, e-scooters, and self-balancing vehicles; and (2) Outdoor specialty vehicles, also known as powersports, including all-terrain vehicles (ATVs) and off-road motorcycles. These products serve applications ranging from neighborhood commuting and recreational sports to smart mobility and specialized operations.
Leveraging its technological expertise, the company is actively exploring cutting-edge fields like humanoid robotics to establish new long-term growth drivers. Frost & Sullivan recognizes it as a pioneer in China’s electric mobility industry for global expansion, with over 99% of its 2024 revenue derived from overseas markets—the U.S. being its largest export destination.
The company’s growth follows a clear strategic framework: expanding its product matrix, deepening channel ecosystems, and elevating brand value through innovation. This approach has enabled rapid breakthroughs in its LSEV business since its 2022 launch, supported by precise market positioning, an extensive distribution network, and a multi-brand strategy. Within three years of entering the LSEV market, the company has achieved top-tier global sales, demonstrating strong market penetration.
Financially, the company reported revenues of RMB 1,765.7 million, RMB 2,144.2 million, and RMB 2,976.6 million for the years ending December 31, 2022, 2023, and 2024, respectively. For the seven-month periods ending July 31, 2024, and 2025, revenues reached RMB 1,677.5 million and RMB 2,068.4 million.
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