IPO News | Taotao Auto (301345.SZ) ranked first in the global electric low-speed vehicle industry through Hong Kong Stock Exchange hearing

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange disclosure on September 7, Zhejiang Taotao Auto Co., Ltd. (abbreviation: Taotao Auto Industry, 301345.SZ) passed the Hong Kong Stock Exchange main board listing hearing, and CITIC Securities was its sole sponsor. According to Frost & Sullivan, in terms of revenue, Taotao Auto ranked first in the global electric low-speed vehicle industry in 2025, with a market share of about 10.9%.

According to the prospectus, Taotao Auto Industry is an enterprise dedicated to providing outdoor leisure and electric mobility solutions, and its products are sold to more than 90 countries and regions. The company's international market position is driven by a comprehensive product portfolio covering electric mobility products and power sports products, and is supported by a broad customer base in leisure, travel and functional use scenarios.

The origin of the Taotao Vehicle Industry's business can be traced back to 2004, when the main sponsor, Taotao Group, began operating a business division focusing on all-terrain vehicles and off-road vehicles. The company was founded on September 24, 2015, and then acquired related inventory and machinery from Taotao Group in 2016. Taotao Vehicle Industry initially focused on the R&D, production and sales of all-terrain vehicles and off-road motorcycles. In 2017, the company strategically expanded its product portfolio and launched mass production of electric scooters, electric balance scooters and electric bicycles to seize the new opportunities emerging in the electric mobility industry. In 2022, the company will further expand the company's electric mobility products and launch electric low-speed vehicles.

The company occupies a leading position in the electric low-speed vehicle market and is committed to the design, manufacture and distribution of outdoor leisure and electric mobility products. The company's diverse product portfolio enables the company to provide practical solutions for outdoor travel and leisure. The company's business covers two segments: (i) electric mobility products, including (a) electric low-speed vehicles designed for short trips in the community and on the field; and (b) electric two-wheelers, including electric bicycles, electric scooters and electric balance scooters; and (ii) outdoor specialty vehicles, also known as power sports products, including all-terrain vehicles and off-road motorcycles. The company's products are designed for community short trips, leisure sports, intelligent travel and special work scenarios.

Since its establishment, the company has built a production and operation network around the United States, and its business covers a number of specific overseas markets. The company operates three core production sites in China, Vietnam and the United States. Based on this, the company is building a multi-regional manufacturing system characterized by regional production and localized supply. Relying on the management team's more than 20 years of international operation experience, the company has set up business in North America, Southeast Asia and China, and has established localized production and sales networks in various regions. This “China+Southeast Asia+North America” integrated layout enables the company to quickly respond to customer needs, adapt to local regulations, develop products that meet regional needs, and also provide localized sales and after-sales support.

Taotao Auto has built a hierarchical independent brand matrix for different user groups and channels, covering the four major brands DENAGO™, GOTRAX™, TEKO™, and TAO MOTOR™. The matrix achieves accurate coverage of core customer groups and forms brand synergy through differentiated positioning and operation.

On the financial side, in the four months ended April 30 in 2023, 2024, 2025, and 2026, the company achieved revenue of approximately RMB 2,144 billion (RMB, same below), RMB 2,977 billion, RMB 3,941 million, and RMB 1,591 billion, respectively. In the same period, it recorded annual/period profits of approximately RMB 280 million, RMB 431 million, RMB 816 million, and RMB 292 million, respectively.