致：香港交易及結算所有限公司 公司名稱: 雅迪集團控股有限公司（於開曼群島註冊成立的有限公司） 呈交日期: 2026年1月5日 FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01585 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00001 USD | | | 50,000 | | 增加 / 減少 (-) | | | 0 | | | USD | | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00001 USD | ...

Group 1 - The core theme of the "2025 People's Finance Forum" is to explore opportunities and challenges in economic and social development, focusing on the spirit of the 20th Central Committee's Fourth Plenary Session and the "14th Five-Year Plan" [1] - Yadea Technology Group was recognized as the only brand in the electric vehicle sector to be selected as a "2025 People's Craftsmanship Brand," highlighting its continuous innovation and outstanding development [1][3] Group 2 - Yadea has invested over 5.927 billion yuan in R&D since its listing in 2016, holding more than 2,000 patents and establishing multiple national-level laboratories and research centers to support product innovation [5] - The company has developed a comprehensive product matrix that includes electric bicycles, electric motorcycles, electric scooters, and more, catering to diverse market demands [7] - Yadea has maintained its position as the global sales leader for eight consecutive years, with over 100 million users and more than 40,000 retail stores worldwide, reinforcing its leading position in the global electric two-wheeler market [9]

Core Insights - Yadea Holdings has been awarded the 14th Financial界 "Golden Wisdom Award" for outstanding brand performance, marking its leadership in the global electric two-wheeler market [1][3] Group 1: Company Achievements - Yadea has over 40,000 retail stores and more than 100 million global users, maintaining its position as the world's top seller of electric two-wheelers for eight consecutive years [1][4] - The company has invested over 5.9 billion yuan in R&D since its listing in 2016, holding over 2,000 patents and establishing four national-level laboratories and one national industrial design technology center [3] Group 2: Product and Market Strategy - The launch of the "Modern Series" in 2025, targeting the female market with a "new luxury retro aesthetic," achieved over 1.2 billion online exposures, setting a new industry benchmark for product promotion [4] - Yadea aims to lead the industry with cutting-edge technology, enhance its global presence, and upgrade its service system to create a more comfortable travel experience for users [4]

Event Overview - The 2026 (6th) Qidian Lithium Battery Two-Wheeled Vehicle Battery Swap Conference and the Luban Award Ceremony for Lightweight Power Batteries will be held on April 10, 2026, in Shenzhen [2][4] - The theme of the event is "Co-creating a New Chapter in Lightweight Power and Leading the Future of Two-Wheeled Battery Swapping" [2] Agenda Highlights - The conference will feature a variety of sessions including: - Opening ceremony and Luban Award presentation [3] - Specialized sessions on battery swapping and technology, focusing on topics such as the release of the "2026 China Lightweight Power/Two-Wheeled Vehicle Battery Swap TOP20 Ranking and Industry White Paper" [3][5] - Discussions on innovations in battery swapping business models and lifecycle management strategies [5] - Specialized sessions on electric motorcycles and bicycles, addressing battery applications and safety standards [5] Participation and Scale - The event is expected to host over 400 companies and 600 guests, including major players in the electric two-wheeled vehicle and battery sectors [4][6] - Notable participating companies include Yadi, Aima, and Niu Technologies among others [6][7] Registration and Fees - Registration options include SVIP for 3188 RMB, VIP for 2188 RMB, and a free option contingent on social media promotion [9] - The registration deadline is March 31, 2026, with no on-site registration allowed [9]

Group 1 - The electric vehicle industry is experiencing a shift where mass brands are focusing on trend while high-end brands are realizing growth potential, with expectations for mass brand pressure to ease by Q2 2026 and high-end brands to grow throughout the year [1] - The consumption upgrade in the two-wheeler market is transitioning from rural to urban areas and from durable goods to premium products, with significant historical growth phases identified from 2005 to 2024 [1] - The introduction of new national standards is expected to trigger a new round of industry consolidation, with a shift in focus from distribution channels to brand origins [1] Group 2 - The high-end two-wheeler market shows significant growth potential, with urban penetration rates varying widely among new first-tier cities, indicating room for expansion in high-end segments [2] - Assuming a five-year replacement cycle, the annual sales increment for the high-end market could reach approximately 6.6 million units, highlighting the expansive market opportunity [2] - The success of Ninebot in the high-end market is attributed to its focus on product design and user experience, particularly in smart features, as well as effective brand and channel development [3] Group 3 - The new national standards are seen as a starting point for a new round of market reshuffling, with short-term brand differentiation expected to be minimal but long-term success dependent on scale and product strength [3] - Leading brands like Yadea and Aima are anticipated to benefit from the scale effects resulting from the reduction in SKU numbers due to new regulations, while high-end brands like Ninebot will be evaluated based on their growth and product capabilities [3]

Group 1 - The core viewpoint of the report is that the electric vehicle industry is seeing a trend towards mass-market growth while high-end brands are expected to realize growth potential. By Q2 2026, the pressure on mass-market brands is anticipated to ease, while high-end brands are expected to grow throughout the year. The electric vehicle sector is currently undervalued, with recommendations to focus on Yadea Holdings (01585), Aima Technology (603529.SH), and Ninebot (689009.SH) [1] - The consumption upgrade in the two-wheeler market is transitioning from rural areas to urban centers, moving from durable goods to premium products. The industry has experienced rapid expansion from 2005 to 2013, followed by a slowdown and the establishment of market dynamics from 2014 to 2018. The period from 2019 to 2024 is characterized by national standard reforms that drive high sales through stock replacement, leading to a new round of capital expenditure expansion among industry leaders [1] - The current penetration rate of electric two-wheelers in urban areas has reached a high level, with significant variance in ownership across new first-tier cities. Assuming similar consumption levels and road conditions, there is considerable room for high-end two-wheelers to penetrate the market. With a total penetration rate of 45% for first-tier and new first-tier cities, the annual sales increment for the high-end market is estimated to be around 6.6 million units [2] Group 2 - Ninebot's success in the high-end market is attributed to its focus on product design and user experience, particularly in smart features. The company has also built its brand and distribution channels effectively, creating a market perception that enhances profitability and facilitates channel expansion [3] - The new national standards are seen as the starting point for a new round of industry reshuffling. In the short term, brand differentiation may not be significant, but long-term success will depend on scale and product strength. Leading brands like Yadea and Aima are expected to benefit from economies of scale, while high-end brands like Ninebot will need to focus on growth and product performance [4]

Group 1 - The core event was the "Technology Empowerment · Capital Breakthrough" sharing session held by Gelonghui, where the annual outstanding company awards were announced [1] - Yadea Holdings (1585.HK) won the "Annual Outstanding PR Team" award, recognizing its significant contributions to brand image maintenance and industry public relations governance [1] - The "Annual Outstanding PR Team" award aims to honor PR teams that play a crucial role in external communication and brand representation, injecting vitality and confidence into the market through effective communication [1]

Group 1 - The "Annual Outstanding PR Team" award recognizes PR teams that have made significant contributions to brand image maintenance and industry public relations governance [4] - The award aims to highlight the importance of effective communication in enhancing market vitality and confidence [4] - The selection process involved quantitative data analysis and expert review to determine the final results [4] Group 2 - The "Golden Grid Award" aims to create a reference list of the most valuable listed companies and unicorns in the investment community [4] - The evaluation covers all listed companies on the Hong Kong Stock Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, New York Stock Exchange, American Stock Exchange, and NASDAQ [4] - Ten companies, including 361 Degrees, Anta Sports, Yum China, and others, were awarded the "Annual Outstanding PR Team" award [1][4]

Group 1: Industry Trends - 2025 marks a pivotal year for the global technology industry, transitioning from "smart connectivity" to "intelligent autonomy" [1] - Hardware products are entering a new era of "edge AI explosion," driven by advancements in AI technology, the proliferation of 5G-A, and sustainable development [1] - The transformation of smart hardware is shifting from "single hardware parameters" to a "full-scenario intelligent ecosystem" [1] Group 2: Consumer Electronics and Innovations - Seamless integration between different types of devices is becoming more common, enhancing user experience across smartphones, computers, and tablets [1] - The rise of smart home appliances, automotive technology, and drones is significantly transforming lifestyles and industrial models [1] - The automotive sector is redefining its role, moving beyond being just a transportation tool to becoming part of a broader economic opportunity in low-altitude airspace [1] Group 3: 2025 EDGE Awards - The 2025 EDGE Awards will recognize outstanding technological products that have made significant contributions in functionality, design, user experience, and market performance [3] - Award-winning products are expected to address industry pain points, optimize user experiences, and explore new scenarios, setting market benchmarks and driving innovation [3] - The awards will highlight the most innovative products of the year, showcasing the profound impact of technological innovation on human life [3]

Group 1 - The event "Technology Empowerment, Capital Breakthrough" was held online by Gelonghui on December 22, where the annual outstanding company awards were announced [1] - The "Golden Gelong Award" recognized ten companies for their "Outstanding PR Team of the Year," including 361 Degrees, Anta Sports, Yum China, Baiwang, Hehe Information, Jitu Express, Jianshi Technology, Shanghai Jahwa, Yadea Holdings, and Yika [1] - The award aims to honor PR teams that have made significant contributions to brand image maintenance and industry public relations governance, highlighting the importance of effective communication in enhancing market vitality and confidence [1] Group 2 - Gelonghui's evaluation aims to create a reference list of the most valuable listed companies and unicorns in the investment circle, covering all listed companies on the Hong Kong Stock Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, New York Stock Exchange, American Stock Exchange, and NASDAQ [2]