Core Viewpoint - The article highlights the successful IPO of Shanghai Zhida Technology Development Co., Ltd. (Zhida Technology), which has become the first stock in Hong Kong focused on smart charging solutions for electric vehicles, achieving over 5000 times subscription and raising significant capital [1][12]. Company Overview - Zhida Technology specializes in providing home charging solutions for electric vehicles, integrating products, services, and a digital platform into a comprehensive offering [9]. - The company has established itself as a leader in the Chinese market for home electric vehicle charging stations, with cumulative shipments of 1.3 million units globally, including 1.2 million in China as of March 2023 [9]. Financial Performance - Zhida Technology reported revenues of approximately 3.58 billion, 6.97 billion, 6.71 billion, and 5.93 billion RMB for the years 2021 to 2024, with a gross profit of around 943 million, 1.42 billion, 1.38 billion, and 885 million RMB respectively [10][11]. - The company has faced significant losses, with net losses of 25.15 million, 58.12 million, and 235.90 million RMB for the years 2022, 2023, and 2024 respectively [11]. Investment and Partnerships - Zhida Technology has completed eight rounds of financing since 2015, raising nearly 600 million RMB, with notable investors including BYD and other financial institutions [4][8]. - BYD has become the largest customer of Zhida Technology, contributing significant revenue since 2022, and the company is also expanding its market presence internationally, covering 22 countries [10]. Future Plans - The company plans to use the proceeds from its IPO, approximately 4 billion HKD, for overseas expansion, enhancing its product and service offerings, and improving its digital platform and R&D capabilities [12].

Core Points - Zhidatech (2650.HK) debuted on the Hong Kong Stock Exchange today, closing up 192.14% at HKD 195.5 [1] - The IPO was priced at HKD 66.92, with a public offering oversubscription rate of 5440.80 times, making it the most oversubscribed new energy stock in Hong Kong this year [1] - The company was established in November 2010 and transitioned to a joint-stock company in September 2022, focusing on smart home electric vehicle charging solutions [1] Company Overview - Zhidatech is the largest provider of home electric vehicle charging solutions globally, with a market share of approximately 9.0% and 13.6% in China [1] - By sales revenue, the company ranks fourth globally with a market share of about 5.7%, and it holds the top position in China with a market share of 10.3% [1] Stock Performance - The stock reached a high of HKD 197.00 and a low of HKD 171.20 on its first trading day, with a trading volume of 1.5585 million shares [2] - The total market capitalization of Zhidatech is approximately HKD 11.689 billion [2] - The stock experienced a price fluctuation of 38.55% on its debut [2]

Core Viewpoint - Zhidatech (02650.HK) successfully listed on the Hong Kong Stock Exchange, achieving over 5000 times subscription in its public offering, raising over HKD 250 billion, making it the most oversubscribed new energy stock in Hong Kong this year [2] Group 1: Market Position and Performance - Zhidatech ranks first in China in terms of sales and revenue of home electric vehicle charging piles, with a market share of 13.6% in China and 9.0% globally during the historical record period [2][3] - The company has shipped a total of 1.3 million home electric vehicle charging piles globally, with 1.2 million units shipped in China [3][4] - The global and Chinese market sales for home electric vehicle charging piles are projected to reach RMB 7.2 billion and RMB 3.5 billion respectively in 2024 [10] Group 2: Product and Service Offerings - Zhidatech provides a "three-in-one" home charging solution consisting of products, services, and a digital platform, focusing on smart home electric vehicle charging piles [3][4] - The company has developed advanced products with high gross margins, including electric vehicle charging robots and EMS solutions [3] Group 3: Expansion and Infrastructure - Zhidatech has established the largest electric vehicle charging pile service network in China, covering over 360 cities and completing 1.3 million installation and after-sales service tasks [4] - The company has a manufacturing facility in Anhui, China, and is expanding with a new factory in Thailand, which began operations in April 2024, to support Southeast Asia's market demand [7] Group 4: Financial Performance - Zhidatech recorded revenues of RMB 697 million, RMB 671 million, and RMB 593 million for the years 2022, 2023, and 2024 respectively, with corresponding gross profits of RMB 142 million, RMB 138 million, and RMB 88.6 million [11] - The company incurred annual losses of RMB 25.1 million, RMB 58.1 million, and RMB 236 million during the same periods [11] Group 5: Use of IPO Proceeds - Approximately 38.0% of the net proceeds from the IPO will be used for overseas expansion, 36.5% for R&D to enhance product offerings and digital capabilities, and 10.0% for acquisitions to improve comprehensive energy management solutions [12]

值得注意的是，通过与知名汽车制造商的合作，挚达科技建立了品牌声誉，成为具备竞争优势的电动汽 车家庭充电解决方案提供商，同时与该等主要汽车制造商一同进军海外市场。如今，该公司的产品及服 务已覆盖22个国家。根据弗若斯特沙利文的资料，在泰国和巴西这两个中国以外增长迅速的电动汽车市 场，该公司是率先建立地位且备受认可的智慧家用电动汽车充电桩和服务提供商之一。 公开资料显示，挚达科技以智慧家用电动汽车充电桩为切入点，构建了由产品、服务及数字化平台构成 的"三位一体"电动汽车家庭充电解决方案。根据弗若斯特沙利文的资料，按往绩记录期间家用电动汽车 充电桩的销量计，挚达科技是全球最大的电动汽车家庭充电解决方案提供商，全球市场份额约9.0%， 中国市场份额约13.6%。按销售额计，在全球排名第四，市场份额约5.7%，在中国排名第一，市场份额 10.3%。 挚达科技(02650)首挂上市，公告显示，每股定价66.92港元，共发行597.89万股股份，每手50股，所得 款项净额约3.27亿港元。截至发稿，涨183.92%，报190港元，成交额1.72亿港元。 ...

Core Viewpoint - Zhidatech (02650) has successfully listed its shares at a price of HKD 66.92, raising approximately HKD 327 million, with a significant initial surge of 183.92% to HKD 190 per share, indicating strong market interest and investor confidence [1] Company Overview - Zhidatech focuses on smart home electric vehicle charging solutions, integrating products, services, and a digital platform into a "three-in-one" offering [1] - The company is recognized as the largest provider of home electric vehicle charging solutions globally, holding a market share of approximately 9.0%, and a 13.6% share in the Chinese market based on sales volume [1] - In terms of sales revenue, Zhidatech ranks fourth globally with a market share of about 5.7%, and it is the leading provider in China with a market share of 10.3% [1] Competitive Advantage - Zhidatech has established a strong brand reputation through partnerships with well-known automotive manufacturers, enhancing its competitive edge in the electric vehicle home charging solutions market [1] - The company has expanded its product and service offerings to 22 countries, indicating a robust international presence [1] Market Position - Zhidatech is recognized as a leading provider of smart home electric vehicle charging solutions in rapidly growing markets outside of China, such as Thailand and Brazil, where it has established a significant presence [1]

Group 1 - The core viewpoint of the article is that Zhidatech (02650.HK) has launched a global IPO in Hong Kong, aiming to raise approximately HKD 375 million for various strategic initiatives [2] - Zhidatech plans to issue a total of 5.9789 million shares, with 5.381 million shares allocated for international offering and 597,900 shares for public offering in Hong Kong [2] - The price range for the shares is set between HKD 66.92 and HKD 83.63, with the expected net proceeds being utilized for overseas expansion (38.0%), R&D (36.5%), and M&A activities (10.0%) [2] Group 2 - Zhidatech is the largest supplier of home electric vehicle charging stations in China, providing a comprehensive "three-in-one" solution that includes products, services, and a digital platform [3] - The company has established the largest electric vehicle charging station service network in China, covering over 360 cities as of March this year, and has shipped a total of 1.3 million home electric vehicle charging stations globally [3] - Zhidatech has experienced unstable performance with continuous losses over the past few years, reporting revenues of RMB 697 million in 2022, RMB 671 million in 2023, and RMB 593 million in 2024, alongside losses of RMB 25.14 million, RMB 58.12 million, and RMB 236 million during the same periods [3]

Group 1 - The company, Zhidatech, plans to globally offer 5.9789 million H-shares, with 597,900 shares available in Hong Kong and 5.381 million shares for international offering, with the subscription period from September 30 to October 6, 2025, and expected pricing on October 8, 2025 [1] - The expected share price range is HKD 66.92 to HKD 83.63 per share, with a trading unit of 50 shares, and the shares are anticipated to start trading on the Hong Kong Stock Exchange on October 10, 2025 [1] - According to Frost & Sullivan, the company ranks first in China in terms of sales volume and revenue of home electric vehicle charging piles, holding a 13.6% market share in China and a 9.0% global market share based on sales volume [1] Group 2 - The company expects to net proceeds of HKD 375 million based on a midpoint indicative offer price of HKD 75.27 per share, with an additional HKD 65.5 million if the over-allotment option is fully exercised [2] - Approximately 38.0% of the net proceeds is planned for overseas expansion over the next five years, while 36.5% is allocated for research and development to enhance the product and service portfolio [2] - About 10.0% of the net proceeds will be used for mergers and acquisitions to improve the company's comprehensive energy management solutions, and 5.5% will upgrade existing production facilities to accommodate new vehicle models [2]

Core Viewpoint - Shanghai Zhida Technology Development Co., Ltd. (Zhida Technology) has passed the listing hearing on the Hong Kong Stock Exchange, with Shenwan Hongyuan Hong Kong as its sole sponsor [1] Group 1: Business Overview - Zhida Technology focuses on providing smart home electric vehicle charging piles to automotive manufacturers and users, developing a "three-in-one" electric vehicle home charging solution consisting of products, services, and a digital platform [3] - The product portfolio includes smart home electric vehicle charging piles and accessories, electric vehicle charging robots, EMS solutions, and pipeline products, serving as a key entry point for home digital energy management [3] - The company has established a digital platform that connects a vast network of third-party installation and after-sales service providers, supporting shared charging services [3] Group 2: Market Position - According to Frost & Sullivan, Zhida Technology ranks first in China in terms of sales volume and sales revenue of home electric vehicle charging piles during the historical record period, with a market share of 13.6% in China and 9.0% globally [3] - The company is recognized as a leading provider of electric vehicle home charging solutions, having established partnerships with seven of the top ten automotive manufacturers in China based on 2024 electric vehicle sales [5] - Zhida Technology's products and services are available in 22 countries, with a notable presence in rapidly growing electric vehicle markets such as Thailand and Brazil [5] Group 3: Financial Performance - For the fiscal years 2022, 2023, and 2024, Zhida Technology reported revenues of approximately RMB 697 million, RMB 671 million, and RMB 593 million, respectively, with gross profits of RMB 142 million, RMB 138 million, and RMB 88.6 million [6][7] - The revenue from smart home electric vehicle charging piles accounted for 94.1%, 89.3%, 93.2%, and 92.7% of total product sales revenue for the years 2022, 2023, 2024, and the three months ending March 31, 2025, respectively [4] - The company has incurred operating losses of RMB 29 million, RMB 69 million, and RMB 231 million for the fiscal years 2022, 2023, and 2024, respectively [7]

Core Viewpoint - Shanghai Zhida Technology Development Co., Ltd. (Zhida Technology) is preparing for its main board listing on the Hong Kong Stock Exchange, with Shenwan Hongyuan Hong Kong as its sole sponsor [1]. Business Overview - Zhida Technology focuses on providing smart home electric vehicle charging solutions to automotive manufacturers and users, developing a "three-in-one" solution consisting of products, services, and a digital platform [3]. - The product portfolio includes smart home electric vehicle charging piles and accessories, electric vehicle charging robots, EMS solutions, and pipeline products, serving as a key entry point for home digital energy management [3]. - The company has established a digital platform that connects a vast network of third-party installation and after-sales service providers, supporting shared charging services [3]. Market Position - According to Frost & Sullivan, Zhida Technology ranks first in China in terms of sales volume and sales revenue of home electric vehicle charging piles during the historical record period, with a market share of 13.6% in China and 9.0% globally [3]. - The company ranks third in China by sales revenue of home electric vehicle charging piles, holding approximately 6.6% market share [3]. Revenue Breakdown - Revenue from smart home electric vehicle charging pile sales accounted for 94.1%, 89.3%, 93.2%, 92.7%, and 98.3% of product sales revenue for the years 2022, 2023, 2024, and the three months ending March 31, 2025 [4]. - Revenue from installation and after-sales services accounted for 96.5%, 96.7%, 95.9%, 96.5%, and 96.6% of service revenue during the same periods [4]. Client Relationships - The company has established close partnerships with numerous leading automotive manufacturers, supplying smart home electric vehicle charging piles and accessories to meet end customers' home charging needs [4]. - Zhida Technology has provided products and services to seven of the top ten automotive manufacturers in China by electric vehicle sales in 2024 [5]. Global Expansion - The company's products and services are now available in 22 countries, with a strong presence in rapidly growing electric vehicle markets such as Thailand and Brazil [5]. - Zhida Technology holds approximately 3.9% market share in global home electric vehicle charging pile sales for 2024, with total sales in the global and Chinese markets reaching RMB 7.2 billion and RMB 3.5 billion, respectively [5]. Financial Performance - For the fiscal years 2022, 2023, 2024, and the three months ending March 31, 2025, Zhida Technology reported revenues of approximately RMB 697 million, RMB 671 million, RMB 593 million, and RMB 217 million, respectively [6]. - Gross profits for the same periods were RMB 142 million, RMB 138 million, RMB 88.6 million, and RMB 35.8 million [6].

Core Viewpoint - The company, Zida Technology, submitted its prospectus to the Hong Kong Stock Exchange on July 18, 2025, aiming for a main board listing, with Shenwan Hongyuan as the exclusive sponsor. It is the largest provider of home electric vehicle charging stations globally, reporting a revenue of RMB 5.9 billion in 2024 and a net loss of RMB 2.4 billion [1][6]. Company Overview - Zida Technology is recognized as one of the largest home electric vehicle charging solution providers globally, with a cumulative shipment of 1.3 million home electric vehicle charging stations worldwide, including 1.2 million in China. The company's market share in China reached 15.6% based on sales volume during the reporting period [1][11]. - The company has established the largest charging station service network in China, covering over 360 cities and completing 1.3 million installations and after-sales services as of March 31, 2025 [1][6]. Financial Performance - The company's revenue for the years ending December 31 was approximately RMB 7 billion, RMB 6.7 billion, and RMB 5.9 billion, with a compound annual growth rate (CAGR) of -7.73%. Gross profit was around RMB 1.4 billion, RMB 1.4 billion, and RMB 0.9 billion, with a CAGR of -21.04% [4]. - The net loss for the years was RMB -0.3 billion, RMB -0.6 billion, and RMB -2.4 billion, with a CAGR of 206.28%. The gross margin was approximately 20.38%, 20.51%, and 14.93% [4][6]. Industry Outlook - The global market for home electric vehicle charging solutions is projected to reach RMB 47.6 billion by 2028, with a CAGR of 32.2% from 2023 to 2028. The market in China, Europe, North America, South America, the Middle East, and Southeast Asia is expected to grow at CAGRs of 16.2%, 30.8%, 39.7%, 93.1%, 66.5%, and 113.6%, respectively [7]. Competitive Position - Zida Technology ranks first in both sales volume and revenue market share in the Chinese home electric vehicle charging station market, with shares of approximately 15.6% and 11.8%, respectively [10][11]. - The company supplies smart home electric vehicle charging stations and accessories to seven of the top ten mainstream automobile manufacturers in China and has expanded its products and services to eight countries [1][10].