涛涛车业，拟“A+H”上市

Core Viewpoint - Taotao Automotive has submitted an application for an IPO on the Hong Kong Stock Exchange, aiming to raise funds for capacity expansion, digital and intelligent upgrades, product diversification, exploration of humanoid robotics, and global sales network expansion [1][2]. Group 1: Company Overview - Established in 2015, Taotao Automotive focuses on "new energy smart travel," specializing in smart electric low-speed vehicles and specialty vehicles [1]. - The company initially concentrated on the research, production, and sales of all-terrain vehicles and motorcycles, later expanding its product line to include electric scooters, electric balance bikes, and electric bicycles in 2017 [1]. - In 2022, Taotao Automotive launched electric low-speed vehicles, marking the initiation of its second growth engine and entering higher-value market segments [1]. Group 2: Financial Performance - For the first nine months of 2025, Taotao Automotive reported a revenue of 2.773 billion yuan, a year-on-year increase of 24.89%, and a net profit of 607 million yuan, up 101.27% [2]. - In the third quarter, the company achieved a revenue of 1.060 billion yuan, reflecting a year-on-year growth of 27.73%, and a net profit of 264 million yuan, which is a 121.44% increase [2]. Group 3: Future Outlook - Starting in 2025, Taotao Automotive plans to expand into cutting-edge fields such as humanoid robotics while enhancing its core business [2]. - The company is focusing on a global manufacturing system with a presence in China, Southeast Asia, and North America to improve market response efficiency [2]. - The fourth quarter is expected to see high sales due to the holiday shopping season in Europe and North America, with the company expressing confidence in achieving strong performance [2].