年内A股股价涨超240% 靠“老头乐”征服北美市场的涛涛车业启动港股IPO

Core Viewpoint - Zhejiang Taotao Vehicle Co., Ltd. has successfully penetrated the North American market with its low-speed electric vehicles, known as "Laotou Le," achieving significant growth and high profits, while planning to list on the Hong Kong Stock Exchange to create an "A+H" dual financing platform [2][4][16]. Financial Performance - In 2022, the company's revenue was 1.766 billion RMB, which increased to 2.144 billion RMB in 2023, and is projected to reach 2.977 billion RMB in 2024 [11][12]. - Net profit rose from 206 million RMB in 2022 to 280 million RMB in 2023, with expectations of 431 million RMB in 2024 [11][12]. - The company reported that over 99% of its revenue comes from overseas markets, with the United States being the largest export destination, contributing nearly 80% of revenue in the first seven months of 2025 [11][12]. Market Position - According to Frost & Sullivan, Taotao Vehicle ranks second in the global electric low-speed vehicle industry with a market share of 8.4% as of 2024 [11]. - The company has established a strong presence in the North American market, successfully partnering with major retailers like Walmart [8]. Strategic Partnerships - In July 2023, Taotao Vehicle entered into strategic partnerships with Shanghai Kepler Robotics Co., Ltd. and Yushu Technology Co., Ltd., marking its entry into the humanoid robotics sector [3]. Corporate Governance and Controversies - The company has faced scrutiny regarding its low R&D expenditure, which accounted for only 4.2% of total revenue in 2024, and concerns over high dividend payouts to its founder, Cao Matao [15][16]. - Taotao Vehicle has been penalized multiple times for regulatory violations, raising questions about its compliance and governance practices [14][15].