常州夫妻把充电桩卖到70国，干到全球第一，年入40亿，即将IPO

Core Viewpoint - The article highlights the transformation of Wanbang Group into Wanbang Digital Energy Co., Ltd., which has become the world's largest supplier of smart charging equipment, with annual sales exceeding 470,000 units and operations in approximately 70 countries and regions [2][24]. Company Overview - Wanbang Energy has submitted its prospectus to the Hong Kong Stock Exchange, aiming for an IPO after previous attempts in 2020 and plans for A-share listing in 2024 [2]. - The company reported revenues of 3.474 billion yuan in 2023, projected to rise to 4.182 billion yuan in 2024, with a 23% year-on-year growth in the first three quarters of 2025 [2][33]. Financial Performance - Despite revenue growth, net profit declined from 493 million yuan in 2023 to 336 million yuan in 2024, a drop of 31.7% [34]. - In the first three quarters of 2025, net profit rebounded to 301 million yuan, but included a one-time gain of 196 million yuan from asset transfer, accounting for nearly 60% of pre-tax profit [3][34]. - The company's gross margin has been decreasing, from 33.4% in 2023 to 24.6% in the first three quarters of 2025, with the core charging equipment business margin dropping from 34% to 26.6% [35]. Market Position - Wanbang Energy operates 726,000 public charging piles, ranking second in China with a market share of 15.7%, following Teld [38]. - The company has established a significant presence in the overseas market, generating 573 million yuan in revenue from international operations in the first three quarters of 2025, accounting for 18.6% of total revenue [4][40]. Business Model and Strategy - The company focuses on the charging pile market, utilizing a "crowdfunding" model to integrate social resources for charging station construction [14]. - Wanbang Energy has developed a "cloud-platform-device" business model, leveraging IoT technology for real-time monitoring and management of charging stations [17][39]. - The company has received investments from notable firms such as CICC Capital and Schneider Electric, with CICC being the largest external shareholder [4][23]. Leadership and Background - The company is controlled by a husband-and-wife team, Shao Danwei and Ding Feng, who have a strong background in the automotive industry and have led the company to significant growth [5][10]. - Shao Danwei has been recognized on the Hurun Rich List for two consecutive years, reflecting the company's financial success [25]. Industry Context - The charging infrastructure market in China is rapidly expanding, with a reported 4.625 million public charging facilities as of November 2025, a 36% year-on-year increase [38]. - The overall growth of the new energy sector and the increasing adoption of electric vehicles are driving demand for charging solutions [33].