YADEA(HK:01585) Jin Rong Shi Bao·2025-09-17 09:56Core Insights - The electric two-wheeler industry in China, known as "small electric donkeys," is rapidly expanding globally, becoming a new export highlight for Chinese manufacturing [1] - In 2024, China's exports of electric motorcycles and bicycles exceeded 40 billion yuan, with a global production capacity share of over 80% [1] - Wuxi, Jiangsu province, is a key hub for this industry, with companies like Yadea, Niu Technologies, and Aima leading the charge [1] Export Performance - In 2024, Wuxi's electric two-wheeler exports reached 600 million USD, a year-on-year increase of 40.9%, accounting for 8.8% of the region's total exports [1] - By the first half of 2025, the two-wheeler industry in Wuxi achieved an import and export volume of 350 million USD, growing by 31.9% year-on-year [1] Market Expansion - India has become the largest export market for Wuxi's two-wheelers, with exports reaching 180 million USD in 2024, representing 30% of total exports and a growth of 98.3% [2] - Other significant markets include Turkey, the Philippines, and Indonesia, with respective export shares of 11.7%, 11.2%, and 9.2% [2] Company Strategies - Yadea Technology Group, a leading player in the electric two-wheeler sector, has established a presence in over 100 countries and aims to expand its overseas production bases from 5 to around 10 [2] - The company focuses on solidifying its foundation rather than pursuing short-term sales, adapting products to local needs and building a comprehensive supply chain [2] Competitive Advantages - The rapid acceptance of Chinese electric two-wheelers in overseas markets is attributed to five core advantages: high cost-performance ratio, low operating costs compared to fuel motorcycles, convenience, advanced smart features, and the growing global influence of Chinese brands [3] - Many countries still primarily use fuel motorcycles, indicating significant growth potential for electric two-wheelers [3] Environmental Alignment - Chinese electric two-wheelers align with global demands for environmental sustainability and urban management, offering zero pollution and low noise [4] - Countries like Vietnam are implementing policies to phase out fuel motorcycles by 2027 and are encouraging the adoption of electric vehicles through government procurement [4] Industry Leadership - Wuxi's two-wheeler production has ranked first in China for ten consecutive years, accounting for one-third of the national market share [5] - This industrial base not only supports the domestic popularity of electric two-wheelers but also serves as a crucial engine for their global expansion [5]