XHW(SH:603888) Xin Hua Wang·2025-11-19 05:26Core Viewpoint - The electric bicycle market is undergoing a significant transition as the deadline for the old national standard approaches, leading to a surge in demand for old standard bikes while new standard models face supply shortages [2][3][4]. Group 1: Market Dynamics - The transition period ending on December 1 has created a rush for old standard electric bicycles, with some stores reporting sales levels comparable to peak seasons, driven by consumer urgency and promotional tactics [3][4]. - Old standard bikes are being marketed aggressively, with stores using the impending deadline as a promotional tool, resulting in a notable increase in sales compared to previous years [3][4]. - There is a supply-demand imbalance, with old standard bikes experiencing high demand and potential price increases, while new standard models are delayed due to certification issues [4][5]. Group 2: Consumer Behavior - Consumers are torn between the appeal of old standard bikes for their speed and cost-effectiveness versus the safety features of new standard models, reflecting a broader trend in consumer preferences [8][9]. - Price differences are influencing purchasing decisions, with new standard bikes being more expensive due to enhanced safety features, leading budget-conscious consumers to favor old standard options [9][10]. - The market is witnessing a split between "speed seekers" who prefer old standard bikes and "safety advocates" who are willing to wait for new standard models, indicating diverse consumer priorities [8][10]. Group 3: Regulatory and Compliance Issues - Some retailers are reportedly engaging in "gray market" practices to circumvent the upcoming sales ban on old standard bikes, which raises concerns about consumer rights and safety [5][6]. - The new national standard imposes stricter regulations on electric bicycles, including speed limits and safety features, which complicates illegal modifications and aims to enhance overall safety [6][12]. - Regulatory bodies are increasing enforcement efforts to address illegal sales and modifications, indicating a tightening of market oversight as the transition to new standards progresses [10][12]. Group 4: Industry Implications - The shift to new standards is expected to drive industry-wide changes, compelling manufacturers to innovate and adapt to new safety requirements, which may reshape competitive dynamics in the market [10][16]. - Companies that can quickly align their production with the new standards are likely to gain a competitive edge, while those lagging behind may face significant challenges [16]. - The transition period highlights the need for better consumer education regarding safety and compliance, as the industry moves towards a more regulated environment [16].