Core Viewpoint - Tailing, an electric two-wheeler company, has submitted its listing application to the Hong Kong Stock Exchange, aiming to capitalize on the growing market despite facing competitive pressures and regulatory changes [1][4]. Financial Performance - Tailing's revenue for 2024 is projected at 13.6 billion yuan, with a growth rate of 14.5%, and a profit of 472 million yuan, reflecting a year-on-year increase of 64.9% [1]. - For the first three quarters of 2025, Tailing expects revenue of 14.84 billion yuan, a year-on-year increase of 38.6%, and a net profit of 822 million yuan, up 122.4% [1]. - The gross profit and gross margin have shown an upward trend, with gross profits of 884 million yuan, 1.11 billion yuan, 862 million yuan, and 1.48 billion yuan for the years 2023, 2024, and the first nine months of 2025, respectively [2]. Market Position - Tailing holds approximately 5.2% market share in the global electric light vehicle market and 12.7% in the Chinese electric two-wheeler market, ranking third behind Yadea and Aima [4]. - However, Tailing's market share in the domestic electric two-wheeler market has declined by 2.4 percentage points to 11.7% in 2025, indicating a competitive challenge [4]. Sales Channels - The majority of Tailing's sales, over 95%, are generated through offline dealer networks, which have increased to 97.4% in the first three quarters of 2025 [4]. Industry Trends - The electric two-wheeler market in China is expected to produce 63.16 million units in 2025, reflecting a year-on-year growth of 14.8% [4]. - The new national standard for electric bicycles will be implemented in September 2025, which may disrupt the industry, particularly affecting companies reliant on offline sales [5]. Competitive Landscape - New entrants and established brands are adapting to market changes, with companies like Ninebot gaining market share and posing a threat to Tailing [6]. - Tailing's R&D expenditure is significantly lower than that of competitors like Yadea and Aima, which may impact its long-term competitiveness [6]. International Expansion - Tailing has signed contracts with 342 overseas dealers and established a manufacturing base in Vietnam, expanding its sales network to Southeast Asia, Africa, Latin America, and Europe [10].

年入136亿！江苏无锡冲出一家电动两轮车IPO，与雅迪、爱玛竞争 原创 阅读全文 格隆汇新股 ...

近日，港交所官网披露，由潮汕籍三兄弟创办的台铃科技股份有限公司（以下简称"台铃科技"）正式向港交所递交上市申 请，其股东包括上汽集团（600104）、LVMH、赛福天（603028）等。 招股书显示，根据2024年电动两轮车收入数据，台铃科技在中国内地市场排名第三，市场份额达12.7%。若此次IPO成功，台 铃科技将成为继雅迪、爱玛之后，第三家登陆资本市场的电动两轮车行业巨头。 营收利润逐年增长 但市场份额却有所下滑 招股书显示，台铃科技于2003年在深圳诞生，如今总部位于江苏省无锡市，是一家专注于电动轻型交通工具领域的知名品 牌，业务范围全面覆盖电动两轮车、三轮车的研发、生产与销售，同时延伸至共享出行、充电及换电等配套服务。截至2025 年第三季度，台铃科技提供50款电动自行车车型、38款电动摩托车车型和三款电动三轮车车型。 盈利能力方面，2023年、2024年及2025年前三季度，台铃科技的毛利分别约13.45亿元、17.62亿元、21.63亿元，对应毛利率分 别为11.3%、13.0%、14.6%。净利润分别约2.87亿元、4.72亿元、8.23亿元。 然而，虽然台铃科技近年来的业绩表现可圈可点，但根据 ...

Market Overview - On February 4, the motorcycle and other sectors rose by 0.92%, with Chuanfeng Power leading the gains [1] - The Shanghai Composite Index closed at 4102.2, up 0.85%, while the Shenzhen Component Index closed at 14156.27, up 0.21% [1] Stock Performance - Chuanfeng Power (603129) closed at 258.07, with a gain of 2.25% and a trading volume of 16,400 shares, amounting to a transaction value of 420 million [1] - Aima Technology (603529) closed at 29.35, up 1.98%, with a trading volume of 62,800 shares and a transaction value of 183 million [1] - Other notable stocks include: - TaoTao Vehicle (301345) at 221.00, up 1.58% [1] - Zhonglu Co. (600818) at 9.90, up 1.33% [1] - Jiuqi Co. (300994) at 16.85, up 0.96% [1] Capital Flow - The motorcycle and other sectors experienced a net outflow of 7.6091 million from main funds, while retail funds saw a net outflow of 46.5012 million [2] - Speculative funds had a net inflow of 54.1103 million [2] Individual Stock Capital Flow - TaoTao Vehicle (301345) had a main fund net inflow of 37.0876 million, with a retail net outflow of 50.4477 million [3] - Chuanfeng Power (603129) saw a main fund net inflow of 6.0441 million, with a retail net outflow of 10.9097 million [3] - Aima Technology (603529) had a main fund net inflow of 5.5853 million, but a retail net inflow of 3.6145 million [3]

Core Viewpoint - The electric light transportation market is experiencing significant growth, with companies like Tailg Technology preparing for IPOs to capitalize on this trend. Tailg Technology is positioned as the third-largest electric two-wheeler manufacturer in China, with a projected revenue of 13.6 billion RMB in 2024 [2][7]. Industry Overview - The electric light transportation tools market includes electric two-wheelers, electric three-wheelers, and other light electric vehicles, with electric two-wheelers being the largest segment globally due to performance improvements and supportive green policies [4]. - The supply chain consists of upstream material suppliers, midstream manufacturers, and downstream sales and after-sales services, with intense competition leading to a concentration of market share among leading companies [6][26]. Company Positioning - Tailg Technology holds a 5.2% market share in the global electric light transportation market and a 12.7% share in the Chinese electric two-wheeler market, making it the third-largest player in both segments [6][7]. - The company operates six production bases in mainland China and one overseas in Vietnam, with a significant reliance on a network of over 5,597 domestic and 412 overseas dealers for sales [10][11]. Financial Performance - Tailg Technology's revenue is primarily driven by electric bicycles, which contribute over 50% of total income, while electric motorcycles and batteries each account for around 20% [14][17]. - The company has seen a rise in average selling prices for its products, with electric bicycles increasing from 1,297.2 RMB to 1,393.7 RMB and electric motorcycles from 1,468.7 RMB to 1,585.3 RMB between 2023 and 2025 [14][17]. - Projected revenues for 2023, 2024, and the first nine months of 2025 are approximately 11.88 billion RMB, 13.6 billion RMB, and 14.84 billion RMB, respectively, with corresponding net profits of about 286 million RMB, 472 million RMB, and 823 million RMB [17]. Market Trends - The global electric light transportation market is expected to grow from 263.2 billion RMB in 2024 to 505.9 billion RMB by 2029, with a compound annual growth rate (CAGR) of approximately 11.7% [17]. - The Chinese electric two-wheeler market is projected to reach 57.3 million units in 2024, with an expected CAGR of 6.2% from 2025 to 2029 [21]. - Chinese brands are increasingly shifting from product exports to brand-led overseas expansion, with market share in the overseas electric two-wheeler market expected to rise from 15.1% in 2024 to 20.8% by 2029 [21]. IPO Plans - Tailg Technology plans to use the funds raised from its IPO to enhance production capacity, expand sales networks, invest in research and development, and improve brand recognition through marketing efforts [25].

数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据中国汽车工业(摩托车)产销快讯数据显示：2025年12月洛阳北方易初摩托车有限公司摩托车产量为 45573辆，同比下降4.82%，销量为44583辆，同比增长3.52%，产销率为97.83%，积压990辆；2025年1- 12月洛阳北方易初摩托车有限公司摩托车产量为597984辆，产量累计同比增长21.97%，2025年1-12月洛 阳北方易初摩托车有限公司销量为596426辆，销量累计同比增长22.44%。 近一年洛阳北方易初摩托车有限公司摩托车产销情况统计图 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （6031 ...

近一年宁波东方凌云车辆制造有限公司摩托车产销情况统计图 数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （603129），爱玛科技（603529），隆鑫通用（603766），永安行（603776），新日股份（603787）， 绿通科技（301322），涛涛车业（301345），华洋赛车（834058） 相关报告：智研咨询发布的《2026-2032年中国摩托车行业市场全景评估及发展策略分析报告》 根据中国汽车工业(摩托车)产销快讯数据显示：2025年12月宁波东方凌云车辆制造有限公司摩托车产量 为1983辆，同比下降26.83 ...

近一年宁波市龙嘉摩托车有限公司摩托车产销情况统计图 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （603129），爱玛科技（603529），隆鑫通用（603766），永安行（603776），新日股份（603787）， 绿通科技（301322），涛涛车业（301345），华洋赛车（834058） 数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 相关报告：智研咨询发布的《2026-2032年中国摩托车行业市场全景评估及发展策略分析报告》 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据中国汽车工业(摩托车)产销快讯数据显示：2025年12月宁波市龙嘉摩托车有限公司摩托车产量为 7244辆，同比增长2.23%，销量为 ...

根据中国汽车工业(摩托车)产销快讯数据显示：2025年12月金城集团有限公司摩托车产量为1974辆，同 比下降3.14%，销量为1953辆，同比下降5.74%，产销率为98.94%，积压21辆；2025年1-12月金城集团 有限公司摩托车产量为23465辆，产量累计同比增长38.56%，2025年1-12月金城集团有限公司销量为 23248辆，销量累计同比增长38.89%。 近一年金城集团有限公司摩托车产销情况统计图 数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （603129），爱玛科技（603529），隆鑫通用（603 ...

数据来源：中国汽车工业(摩托车)产销快讯，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据中国汽车工业(摩托车)产销快讯数据显示：2025年12月金翌车业有限公司摩托车产量为8230辆，同 比增长28.59%，销量为8200辆，同比增长28.55%，产销率为99.64%，积压30辆；2025年1-12月金翌车 业有限公司摩托车产量为80060辆，产量累计同比增长3.59%，2025年1-12月金翌车业有限公司销量为 79816辆，销量累计同比增长3.28%。 近一年金翌车业有限公司摩托车产销情况统计图 上市公司：钱江摩托（000913），信隆健康（002105），征和工业（003033），久祺股份（300994）， 林海股份（600099），上海凤凰（600679），中路股份（600818），力帆科技（601777），春风动力 （603129），爱玛科技（603529），隆鑫通用（603 ...