HONG KONG, Sep 20, 2022 – (ACN Newswire) – According to Bloomberg Terminal, China's smart EV maker Zhejiang Leapmotor Technology Co., Ltd. ("Leapmotor" or the "Company", stock code: 9863.HK) began to offer its shares today, with JPMorgan,CICC, Citigroup and CCB International as joint sponsors. It is expected to list in Hong Kong Stock Exchange on September 29.

Leapmotor is a smart EV company based in China that strives to deliver the finest smart mobility experience to all consumers. Harnessing its proprietary technologies and capacity for innovation, the company designs and builds EVs by approaching them as electronics products characterized by smart features and rapid product iterations, amid the ongoing transformation of automobiles from a means of transport into intelligent mobile spaces.

With full-suite of R&D capabilities and vertical integration, core technologies build the cornerstone of development

Technology R&D is not only the foundation of an enterprise, but also the key to maintaining its core competitiveness. In terms of independent R&D capability, Leapmotor is the only pure-play EV company and one of the few NEV companies with such a full-suite of R&D capabilities based in China that develops all key hardware and software across the core systems and electronic components. At present, Leapmotor achieved the designing and producing in-house all of the core systems and electronic components, including its intelligent power system, autonomous driving system. Except for battery cells and internal and external decoration that are outsourced, as well as chassis and automotive electronics that are self-developed and outsourced for production, other parts are self-developed and self-produced, which further highlighted the market competitiveness and influence.

The professional R&D team is an important reason for Leapmotor to continuously expand its technical advantages. As disclosed in the prospectus, as of 30 June 2022, Leapmotor had 1,869 R&D employees, accounting for approximately 32.7% of the total number of employees. In the meanwhile, the achievements in R&D will further enhance the Company's ability to attract and retain high-quality technical talents, so as to realize a virtuous cycle of development and take a firm stand in the top group of new forces in vehicle manufacturing.

Focusing on industries of high prosperity, the sales soars and opens up broad growth space

In 2021, China's new energy vehicle ("NEV") sales volume was 3.3 million units, making it the world's largest new energy vehicle market. It is expected that by 2026, China's new energy vehicle sales will reach 10.6 million units, exceeding that of ICE vehicles for the first time, and the compound annual growth rate from 2021 was 26.0%, accounting for 43.9% of the global new energy vehicle market. The penetration rate of NEVs in China's PV market is expected to surge from 22.4% in 2022 to 50.1% in 2026.

In this context, Leapmotor ushered in a broad space for development, and the sales of smart EVs have achieved rapid growth. As disclosed in the prospectus, in 2020 Leapmotor delivered more than 8,000 smart EVs, a total of 43,748 vehicles in 2021, a 443.5% increase from 2020, making it the fastest-growing among the leading pure-play EV companies based in China in terms of delivery volume. For the six months ended 30 June 2022, the Company delivered a total of approximately 51,994 smart EVs, an increase of 265.3% from that period in 2021. The company delivered 64,038 smart EVs in the first seven months of 2022, representing an increase of 244.8% from that period of 2021.

The increase in sales led to the rise in Leapmotor 's revenue. The data shows that from 2019 to 2021, the total revenue of Leapmotor amounted to approximately RMB117.0 million, RMB631.3 million and RMB3,132.1 million respectively. Its total revenue increased by 616.4% year on year to RMB1,992 million for the three months ended 31 March 2022. Its revenue increased by 479.4% year on year to RMB5,081.5 million for the six months ended 30 June 2022. Rising profitability will further consolidate and enhance its leading position, building up a solid, strong competitive barrier.

With the popularity of the smart EV industry, Leapmotor has a full-suite of R&D capabilities and rapid expansion of product portfolio. This Hong Kong IPO is another milestone in its development and is expected to become the fourth new force EV maker to list in Hong Kong after XPeng, Li Auto and NIO. It is believed that more capital injection will raise its safety margin and add strong impetus to its subsequent development.


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HONG KONG, Sep 16, 2022 – (ACN Newswire) – Ev Dynamics (Holdings) Limited (the "Company", Stock Code: 476, together with its subsidiaries, collectively "Ev Dynamics" or the "Group"), a provider of new energy vehicles and integrated technology solutions, has announced that the pure electric minibus developed and produced by the Group has completed the Public Light Bus Type Approval by the Transport Department. The electric minibus will immediately be tested on a green minibus ("GMB") route and is expected to commence service at the end of this year or early next year. The vehicle is the first pure electric fully accessible public minibus in Hong Kong, marking a new era of eco-friendly and socially inclusive public transportation led by Ev Dynamics.

Today, the Ev Dynamics vehicle was handed over to the GMB operator Vantage Billion Development Limited for route testing. Mr. Ricky Suhendar, Consul General of the Republic of Indonesia in Hong Kong; Dr. Adeyemi E. Adebayo, Consul General of Nigeria Hong Kong; Mr. Fung Ho Yin, Owin, Deputy Director of the Environmental Protection Department; Mr. Wong Chi Kwong, Patrick, Assistant Commissioner for Transport, Hon Frankie Yick Chi-ming, Legislative Councillor (Functional Constituency – Transport), Ir Hon. Zhang Xinyu, Gary, Legislative Councillor (Geographical Constituency – New Territories North); Ms. Chan Yuen-han, Honorary Advisor, The Hong Kong Federation of Trade Unions; and Mr. Lam Tin Fu, Secretary General, Motor Transport Workers General Union, all witnessed the launch of the pure electric fully accessible vehicle into the franchised minibus segment. Developed by the Group for the Hong Kong market, the minibus will further promote environmental protection and social inclusion in the city.

The pure electric fully accessible minibus is tailor-made for Hong Kong. Its robust and intelligent power system is suitable for the difficult traffic conditions found in Hong Kong. With its high-performance lithium iron phosphate battery, the vehicle is emission-free, and can travel 230 kilometers with only 30 to 60 minutes of charging. The seven-meter-long vehicle has flexible driving dynamics and ample interior space. In addition, the low platform provides convenient access for people with disabilities and the elderly.

Mr. Cheung Ngan, Chairman of Ev Dynamics, said, "We are extremely pleased that our seven-meter-long pure electric fully accessible minibus is entering the franchised minibus market in Hong Kong. This vehicle boasts zero emissions, and can therefore effectively improve roadside air quality. Moreover, its unique low-platform design can address the needs of people with mobility problems or the elderly who wish to go out. At present, there is no comparable model in Hong Kong, so we believe that this pure electric fully accessible minibus will be welcomed by local operators and passengers alike."

Mr. Cheung further described the electric vehicle as the future of transportation. The Group has been developing pure electric vehicles for years and is committed to providing society with healthier and cleaner transportation options. In view of the traffic found in the Hong Kong market, the Group offers a variety of models, including the seven-meter-long pure electric fully accessible minibus being handed to the green minibus operator today for route testing. The Group also offers a seven-meter-long rooftop fast-charging pure electric fully accessible minibus, seven-meter-long pure electric wheelchair accessible minibus, 12-meter-long fully accessible e-bus, and fully electric 65-seat coach.

At present, the Group has completed the sale of two 12-meter-long fully accessible e-buses to the Hong Kong Productivity Council, and another e-bus of the same model, also procured by the Hong Kong Productivity Council, has yet to be delivered. Two fully electric 65-seat coaches have arrived in Hong Kong and are ready for sale.

About Ev Dynamics (Holdings) Limited (Stock Code: 476)
Ev Dynamics (Holdings) Limited is a pioneer and prominent player in China's new energy commercial vehicles market, as well as a whole-vehicle manufacturer of specialty passenger vehicles and new energy passenger vehicles. It is an integrated driving and logistics solutions provider with a solid technological foundation in diverse areas including new energy platform power systems and their key components. The Group has a production base in Chongqing, boasts extensive domestic and overseas sales networks, and focuses on serving high-growth markets in Southeast Asia, Europe and Latin America.

Media Enquiries
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Website: www.sprg.com.hk


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HONG KONG, Aug 26, 2022 – (ACN Newswire) – On August 24, Wuling Motors (00305.HK), a Hong Kong-listed company, released its 2022 semi-annual performance report.

In the first half of 2022, Wuling Motors achieved an operating income of 6.275 billion yuan, a year-on-year decrease of 12.4%; a net loss of 139 million yuan, a substantial increase over the same period 2021. During the period, affected by the international situation and the frequent outbreak of the epidemic, the Chinese auto market was still in an adjusted recovery period. The revenue of each segment of the company declined to various degrees, because of the continued high price of raw materials and shortage of auto chips.

In terms of revenue structure, Wuling Motors' revenue comes from four departments: the automotive power system, auto parts & other industrial services, commercial vehicles (including new energy vehicles), and others. The auto parts department is still the company's largest source of income. In the first half of the year, apart from SAIC-GM-Wuling, the auto parts department promoted products to other customers, such as Great Wall Motor, Foton Motor, Chery Automobile, Dongfeng Xiaokang, etc. During the period, sales increased slightly compared with the same period of 2021, and sales to these customers accounted for approximately 32.6% of the total revenue of the department. Wuling Motors continuously improved the single structure of customers and realized business diversification.

During the period, the automotive power system department sold approximately 109,000 engines in the first half of 2022, a slight increase of approximately 3.9% over the same period of 2021; sales to the core customer SAIC-GM-Wuling increased by 25% over the same period in 2021. However, due to the tough business environment, the selling price of the engine was low and the sales revenue decreased.

In terms of commercial vehicle business, in addition to new energy vehicles, Wuling Motors continued to deepen the market segment of modified vehicles and non-road vehicles. In 2022 H1, the sales volume of conventional modified vehicles was 28,519 units, which made Wulin Motors continue to be one of the leading suppliers in the micro-cargo modified market segment; the sales volume of non-road vehicle business reached 1,974 units. It is worth mentioning that the pure electric logistics vehicle independently developed by Wuling Motors has been rapidly increasing since its launch in 2020. In the first year, the sales volume was about 4,700 units. In 2021, the annual the sales volume has exceeded 10,000 units. In the first half of 2022, domestic sales of new energy vehicles reached 7,896 units, a year-on-year increase of 57%. The pure electric logistics vehicle has been recognized by the market, which also verifies that Wuling Motors can manufacture complete vehicles. In addition, Wuling Motors has the manufacturing experience of auto parts, the ability to control the supply chain, and the ability of lean production. In the future, Wuling Motors may make overall arrangement on the entire industry chain of new energy.

According to the announcement, the Hubei Jingmen production base built by Wuling Motors for in-depth cooperation with Great Wall Motors will be put into production in the second half of 2022. Meanwhile, Wuling Motors' auto parts division department has successfully manufactured new products such as front & rear axles of Chery Automobile and SAIC Maxus, and actively approached new business opportunities with other target customers, providing new growth drivers for the company.

What is more worth mentioning is that Wuling Motors strategically participates in the restructuring of Wuling New Energy to accelerate the expansion of the new energy vehicle industry and meets the powerful opportunities in the new energy vehicle market segment. Wuling Industry will sell the original patented technology of new energy vehicles to Wuling New Energy, and the relevant R&D expenses will be transferred to Wuling New Energy after the completion of the reorganization, which can effectively reduce subsequent R&D expenses and increase profits. Meanwhile, Wuling Industry, as a strategic supplier of Wuling New Energy, will continuously bring stable growth points for the company's performance as Wuling New Energy develops.

According to public information, since August, Liuzhou and Wuling Industry, Shandong Branch have linked multiple production lines to keep producing, seize the time to ensure production, and support several new energy vehicle models from many car companies. The monthly output continues to rise and is expected to exceed 70,000 units. It is expected that the company's profitability will grow in the second half of the year.

In addition, Wuling Motors stated that the increase in R&D expenses of new business projects related to new energy vehicles and components also adversely affected the company's earnings performance. In 2022 H1, the company's R&D investment is 191 million yuan, a significant increase of 61.9% year on year. The company will continue to increase investment in research and development, enrich product lines, and enhance brand influence to increase sales of new energy power systems, auto parts, and commercial vehicles.

Overall, although the operating performance of Wuling Auto's semi-annual report has declined, the logic is very clear. Wuling Motors invested a large number of funds in the product research and development of new energy components and new energy vehicles, and actively deployed the new energy vehicle field to seize the opportunities for rapid development of the industry. Wuling Motors is moving forward with energy. After Wuling Motors having gone through a painful period of transformation, the company's future can be expected.


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