Company Overview - Pinecone Wisdom Inc. is a leading shared electric bike service provider in China, ranked as the largest operator in peripheral development areas and fourth overall in the Chinese market as of 2024 [5] - As of September 30, 2025, the company has deployed 454,627 shared electric bikes across 422 cities and counties, with registered users increasing from 99 million in 2023 to 128.3 million by September 2025 [5] - The core business model revolves around shared electric bike services, supported by platform services, advertising through the Pinecone Travel app, and sales of bikes and spare parts to partners and customers [5] Financial Data - The company reported revenues of approximately RMB 953.33 million for 2023, RMB 962.75 million for 2024, and RMB 745.84 million for the nine months ending September 30, 2025 [9] - Gross profit figures were RMB 150.72 million in 2023, RMB 181.68 million in 2024, and RMB 181.28 million for the nine months ending September 30, 2025 [11] - The company recorded net losses of RMB 192.17 million in 2023, RMB 151.09 million in 2024, and RMB 59.99 million for the nine months ending September 30, 2025 [10] Industry Overview - The shared electric bike industry in China is experiencing rapid growth, with market size increasing from RMB 2.2 billion in 2019 to an estimated RMB 16.6 billion by 2024, reflecting a compound annual growth rate (CAGR) of 49.7% [12] - The transaction value in peripheral development areas is projected to grow from RMB 1 billion in 2019 to RMB 4.4 billion by 2024, with a CAGR of 33.6% [15] - In urban areas, the transaction value is expected to rise from RMB 1.2 billion in 2019 to RMB 12.2 billion by 2024, with a CAGR of 59.8% [15]
新股消息 | Pinecone Wisdom Inc.递表港交所 为中国共享电单车服务供货商