Xin Lang Cai Jing·2025-10-10 21:10Core Viewpoint - The article highlights the successful IPO of Shanghai Zhida Technology Development Co., Ltd. (Zhida Technology), which has become the first stock in Hong Kong focused on smart charging solutions for electric vehicles, achieving over 5000 times subscription and raising significant capital [1][12]. Company Overview - Zhida Technology specializes in providing home charging solutions for electric vehicles, integrating products, services, and a digital platform into a comprehensive offering [9]. - The company has established itself as a leader in the Chinese market for home electric vehicle charging stations, with cumulative shipments of 1.3 million units globally, including 1.2 million in China as of March 2023 [9]. Financial Performance - Zhida Technology reported revenues of approximately 3.58 billion, 6.97 billion, 6.71 billion, and 5.93 billion RMB for the years 2021 to 2024, with a gross profit of around 943 million, 1.42 billion, 1.38 billion, and 885 million RMB respectively [10][11]. - The company has faced significant losses, with net losses of 25.15 million, 58.12 million, and 235.90 million RMB for the years 2022, 2023, and 2024 respectively [11]. Investment and Partnerships - Zhida Technology has completed eight rounds of financing since 2015, raising nearly 600 million RMB, with notable investors including BYD and other financial institutions [4][8]. - BYD has become the largest customer of Zhida Technology, contributing significant revenue since 2022, and the company is also expanding its market presence internationally, covering 22 countries [10]. Future Plans - The company plans to use the proceeds from its IPO, approximately 4 billion HKD, for overseas expansion, enhancing its product and service offerings, and improving its digital platform and R&D capabilities [12].