Core Viewpoint - Zhida Technology is seeking to list on the Hong Kong Stock Exchange, with Shenwan Hongyuan Hong Kong as the sole sponsor, having previously submitted applications in February and November 2024 [1][2]. Company Overview - Zhida Technology is recognized as one of the largest suppliers of home electric vehicle charging solutions globally, ranking first in sales volume and fourth in sales revenue of home electric vehicle charging piles during the historical performance period [3]. - The company holds the top position in the Chinese market for home electric vehicle charging piles in terms of both sales volume and revenue [3]. Market Position - In 2024, the total sales revenue for home electric vehicle charging piles is projected to be 7.2 billion RMB globally and 3.5 billion RMB in China [3]. - Zhida Technology has established partnerships with seven of the top ten automotive manufacturers in China, enhancing its brand reputation and facilitating entry into overseas markets [3]. - The company's products and services are available in 22 countries, with a notable presence in rapidly growing markets like Thailand and Brazil [3]. Retail Strategy - The company launched its own retail brand "Zhida" in 2020, rapidly building a large user base to better understand retail customer needs [4]. - Zhida Technology operates online stores on platforms such as Amazon, Tmall, Douyin, and Youzan, with plans to expand its presence on international e-commerce platforms [4]. Financial Performance - The company reported revenues of approximately 697 million RMB, 671 million RMB, and 593 million RMB for the fiscal years 2022, 2023, and 2024, respectively [5][6]. - The net losses for the same periods were approximately 25.15 million RMB, 58.12 million RMB, and 235.90 million RMB [5][6]. - For the three months ending March 31, 2024, the company achieved revenue of 156 million RMB, with a net loss of approximately 31.50 million RMB [5][6].

Financial Data and Key Metrics Changes - EVgo reported a total revenue growth of 36% year over year, reaching $75 million in Q1 2025, with a near tenfold growth over three years [6][29] - Adjusted EBITDA improved to negative $5.9 million, a $1.3 million improvement from negative $7.2 million in Q1 2024 [31] - The company ended the quarter with $171 million in cash, cash equivalents, and restricted cash [7] Business Line Data and Key Metrics Changes - Public network throughput per stall increased by 36% year over year, with overall public network throughput growing by 60% [6][29] - Charging Network revenues grew by 49% year over year to $47.1 million, while Xtend revenues increased by 23% to $23.5 million [29][30] - Charging Network gross margin was 37.1%, down 370 basis points from the prior year, but adjusted gross margin improved to 33.7% [30][31] Market Data and Key Metrics Changes - Non-Tesla EV sales grew over 35% compared to Q1 last year, indicating a strong market for EVs beyond Tesla [11] - The nationwide growth of DC fast charging stations has been flat for the past seven quarters, with a 16% decline in Q1 [13] - Tesla's share of new fast charging has declined from around 70% in 2022 to less than 20% in the most recent quarter [13] Company Strategy and Development Direction - EVgo aims to triple its installed base over the next five years, supported by a $1.25 billion loan guarantee from the Department of Energy [8][23] - The company is focused on improving customer experience, operational efficiencies, and capturing high-value customers [17][21] - EVgo plans to launch 400 new flagship stores in partnership with GM, featuring ultrafast chargers and enhanced customer amenities [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving adjusted EBITDA breakeven in 2025, despite potential impacts from tariffs [8][34] - The company anticipates a growing supply-demand imbalance in the fast charging market, which should drive continued growth in throughput and utilization [15][17] - Management noted that the impact of tariffs on EVgo is expected to be minimal, with only about 25% of total CapEx costs subject to tariffs [9][10] Other Important Information - EVgo's operational installed base has grown by 2.5 times over the last three years, while revenues have increased over 12 times [27] - The company is exploring additional non-dilutive financing opportunities to fund growth beyond the DOE loan [26] - EVgo's dynamic pricing strategy aims to maximize margins and improve utilization during peak hours [90] Q&A Session Summary Question: Guidance for the rest of the year regarding energy costs and ASPs - Management confirmed that guidance remains unchanged, with expectations for higher energy costs in Q3 and stable ASPs [38][40] Question: Strategy for capturing the autonomous vehicle market - EVgo has doubled the number of dedicated stalls for autonomous vehicles and estimates a 20% market share in that segment [44][46] Question: Update on private financing options - Management is in discussions for additional financing to accelerate growth, particularly for stores not eligible for DOE funding [53][56] Question: Impact of potential changes to EV incentives - Management believes the supply-demand picture remains attractive even with potential changes to federal incentives, with a focus on kilowatt hour sales [62][65] Question: Progress on Tesla connectors - EVgo is in the technology validation phase for Tesla connectors and expects to retrofit around 100 to 150 stations this year [100][104] Question: Shape of Xtend revenue growth - Xtend revenue is expected to be broadly flat compared to last year, with a slight decline in the second half [106][107]

Financial Data and Key Metrics Changes - EVgo reported a total revenue growth of 36% year over year, reaching $75 million in Q1 2025, with a near tenfold growth over three years [5][28] - Adjusted EBITDA improved to negative $5.9 million, a $1.3 million improvement from negative $7.2 million in Q1 2024 [30] - The company ended the quarter with $171 million in cash, cash equivalents, and restricted cash [6] Business Line Data and Key Metrics Changes - Charging network revenues grew by 49% year over year to $47.1 million, while Xtend revenues increased by 23% to $23.5 million [28][30] - Public network throughput per stall increased by 36% year over year, with total public network throughput growing by 60% compared to last year [5][27] Market Data and Key Metrics Changes - Non-Tesla EV sales grew over 35% compared to Q1 last year, indicating a broader market acceptance of electric vehicles [10] - The nationwide growth of DC fast charging stations has been flat for the past seven quarters, with a 16% decline in Q1 from the prior quarter [12] Company Strategy and Development Direction - EVgo aims to triple its installed base over the next five years, supported by a $1.25 billion loan guarantee from the Department of Energy [6][22] - The company is focusing on improving customer experience, operational efficiencies, and capturing high-value customers, with 55% of throughput coming from rideshare and OEM charging credits [20][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving adjusted EBITDA breakeven in 2025, despite potential impacts from tariffs [6][33] - The company anticipates a growing supply-demand imbalance in the fast charging market, which is expected to drive ongoing growth in throughput and utilization [14][15] Other Important Information - EVgo is not heavily reliant on new EV sales for revenue, estimating less than 10% of 2025 revenue to come from new EV purchases [10] - The company is exploring additional non-dilutive financing opportunities to fund growth beyond the DOE loan [22][24] Q&A Session Summary Question: Guidance for the rest of the year regarding energy costs and ASPs - Management reiterated that guidance remains unchanged, with Q3 expected to be the weakest due to higher energy costs [39][41] Question: Strategy for capturing the autonomous vehicle market - EVgo has more than doubled the number of dedicated stalls for autonomous vehicles and estimates a 20% market share in that segment [45][46] Question: Update on financing options and timing - Management is in discussions for additional financing to accelerate growth, with potential execution expected within the year [54][56] Question: Impact of potential changes to federal incentives on rollout strategy - EVgo's network plan is flexible and can adapt to changes in state incentives, with a focus on high-utilization markets [65][66] Question: Progress on Tesla connectors and customer acquisition - EVgo is in the testing phase for Tesla connectors and expects to roll out retrofits throughout the year, aiming to capture Tesla drivers [100][102] Question: Shape of Xtend revenue growth - Xtend revenue is expected to be broadly flat compared to last year, with a slight decrease in the second half [105]