Xin Lang Cai Jing·2025-07-20 10:48Company Overview - Zhidatech submitted its prospectus to the Hong Kong Stock Exchange on July 18, 2025, aiming for a main board listing, with Shenwan Hongyuan as the sole sponsor [1] - The company is the largest provider of home electric vehicle charging stations globally, reporting revenues of RMB 590 million and a net loss of RMB 240 million in 2024 [1][4] - As of March 2025, the company had generated RMB 220 million in revenue with a net loss of RMB 20 million [1] Market Position - Zhidatech has shipped a total of 1.3 million home electric vehicle charging stations globally, with 1.2 million units shipped in China [1] - The company holds a 15.6% market share in the Chinese home electric vehicle charging station market, ranking first in terms of sales volume and revenue [1][11] Financial Performance - Revenue for the years ending December 31 was approximately RMB 700 million, RMB 670 million, and RMB 590 million, with a compound annual growth rate (CAGR) of -7.73% [4] - Gross profit figures were RMB 140 million, RMB 140 million, and RMB 90 million, with a CAGR of -21.04% [4] - The company reported a significant increase in net losses, with figures of RMB -30 million, RMB -60 million, and RMB -240 million, reflecting a CAGR of 206.28% [4][6] Industry Outlook - The global market for home electric vehicle charging solutions is projected to reach RMB 47.6 billion by 2028, with a CAGR of 32.2% from 2023 to 2028 [7] - The market growth rates for home electric vehicle charging solutions in various regions are expected to be 16.2% in China, 30.8% in Europe, and 39.7% in North America [7] Competitive Landscape - Zhidatech competes with several companies in the industry, with the top five companies holding a combined market share of 56.3% [11] - The company ranks first in the Chinese market for home electric vehicle charging stations based on sales volume and revenue [11] Management and Ownership - The major shareholder, Dr. Huang Zhiming, holds 28.18% of the shares, while other entities controlled by him collectively own 48.03% [14] - The company has undergone multiple rounds of financing, raising approximately RMB 575 million prior to its IPO [16]