US STOCKS
FUNDS
FX & CRYPTO
SH/SZ-HK
HK STOCKS
 
 
 
 
 
 
To-be Listed
Name
/
Code
Industry Offer Price Lot Size Entry Fee Closing Date
Grey Market Date
Listing Date
CF PharmTech
02652.HK
Pharmaceuticals 14.75 500 7,449.38 2025/10/02 2025/10/06 2025/10/08
Zhida Technology
02650.HK
Auto Parts & Equipment 66.92-83.63 50 4,223.68 2025/10/06 2025/10/09 2025/10/10
Golden Leaf Int
08549.HK
Building Construction 0.45-0.65 5,000 3,282.77 2025/10/06 2025/10/09 2025/10/10
Summary
Our Business We ranked first in terms of sales volume and sales value of home EV chargers in China during the Track Record Period, according to Frost & Sullivan. Our market share reached 13.6% in China and 9.0% globally in terms of the sales volume of home EV chargers during the Track Record Period. In terms of sales value of home EV chargers in China in 2024, we ranked the third, with a market share of approximately 6.6%. In terms of sales value of global home EV chargers in 2024, our market share was approximately 3.9%. The total sales value of the home EV chargers market amounted to RMB7.2 billion globally and RMB3.5 billion in China in 2024. Chinese companies are leading the way in providing EV home charging solutions with dominant market shares in terms of sales volume of home EV chargers during the Track Record Period. For the market shares of the world’s and China’s top five providers of EV home charging solutions, see “Industry Overview — EV Home Charging Solutions — Competitive Landscape of Global EV Home Charging Solutions.”

We commenced business since 2010 and have been loss-making. During the Track Record Period, we incurred net losses of RMB25.1 million, RMB58.1 million and RMB235.9 million in 2022, 2023 and 2024, respectively. In the three months ended March 31, 2024 and 2025, we recorded net losses of RMB31.5 million and RMB17.1 million, respectively. For details, see “Business — Business Sustainability and Path to Profitability — Reasons for Historical Loss.”

Starting with offering smart home EV chargers to both automakers and users, we have since developed a “three-in-one” EV home charging solution consisting of products, services, and a digital platform.

‧ Products: During the Track Record Period, we delivered a cumulative number of 1.3 million home EV chargers globally and 1.2 million home EV chargers in China. Our market share reached 13.6% in China and 9.0% globally in terms of the sales volume of home EV chargers during the Track Record Period, according to Frost & Sullivan. We have also developed advanced products with higher gross profit margin and strong revenue potential, including EV charging robots and EMS solutions. We started generating revenue from sales of EV charging robots in 2024 and we delivered 24 units of EV charging robots, generating revenue of RMB4.1 million in 2024. In the three months ended March 31, 2025, we have delivered 10 units of EV charging robots, generating revenue of RMB1.9 million in the same period, representing a significant increase from revenue of RMB0.6 million generated in the three months ended March 31, 2024. Our EV charging robots achieved a gross profit margin exceeding 50% in 2024 and over 30% for the three months ended March 31, 2025, according to unaudited management accounts, as compared to the gross profit margin of our EV chargers of approximately 20%. Our EV charging robots are well positioned to serve a diverse range of customers, including autonomous driving solutions providers, energy station operators, specialty vehicle manufacturers, and public infrastructure management companies. As for EMS solutions, according to Frost & Sullivan, the global average gross profit margin for EMS solutions is projected to be approximately 30%, highlighting a significant opportunity to drive our profitability. As of the Latest Practicable Date, we did not generate any revenue from EMS solutions.

‧ Services: To empower homes across the country with our smart home EV chargers and digital energy management services, we have established China’s largest EV charger service network to provide door-to-door installation and after-sales services according to Frost & Sullivan, covering over 360 cities nationwide as of March 31, 2025. Such service offerings are provided through third-party service providers connected through our digital platform. During the Track Record Period, our gross profit margins for the provision of services have been relatively modest and subject to periodic fluctuations. During the Track Record Period, we fulfilled a total of 1.3 million installation and after-sales service tasks. We are also developing a variety of other services to further digitalize home energy management for our users.

‧ Digital Platform: To connect our products and services as part of our integrated energy management solutions, we have constructed a digital platform. Our platform digitizes the management of our installation and after-sales network and support our community shared charging services.

We are a trusted partner for leading automakers in China. During the Track Record Period, we provided smart home EV chargers and accessories and/or services to seven of the top ten automakers in China in terms of sales volume of EVs in 2024, according to Frost & Sullivan. Through our partnerships with well-known automakers, we have established our brand reputation as an advanced provider of EV home charging solutions, while expanding into overseas markets alongside these major automakers. Today, our products and services serve 22 countries. In Thailand and Brazil, two fast-growing EV markets outside of China, we are one of the first movers that have established a presence as a recognized provider of smart home EV chargers and services, according to Frost & Sullivan.

Drawing upon our brand influence and service capabilities we accumulated through our partnerships with leading automakers, we launched our own retail brand “摯達 (Zhida)” in 2020. Since its launch, we have efficiently and rapidly accumulated a vast user base, which lays a solid foundation for us to directly reach and better understand the needs of retail users. We cover retail users through multiple channels domestically and internationally. We operate e-stores on platforms such as Amazon, Tmall (天貓), Douyin (抖音) and Youzan (有贊), and we plan to expand our footprint on international e-commerce platforms. We are one of the top three brands in terms of retail sales of home EV chargers on e-commerce platforms in 2022, 2023 and 2024, according to Frost & Sullivan. In addition, we collaborate with distributors in 137 cities in China as of March 31, 2025, to further expand the customer base of our products.



Source: Zhida Technology (02650) Prospectus (IPO Date : 2025/09/30)
Listing Market MAIN
Industry Auto Parts & Equipment
Background H Shares
Major Business Area China
Corporate Information
Substantial Shareholders Huang Zhiming (42.93%)
Chen Hanlin (7.85%)
Power Investment Ronghe New Energy Development Co., Ltd. (6.97%)
Anhui Zhongding Holding (Group) Co., Ltd. (6.90%)
Shanghai Rongqian Enterprise Management Center (Limited Partnership) (6.74%)
Directors Huang Zhiming (Chairman and Chief Executive Officer and Executive Director)
Li Xinrui (Senior Vice President and Executive Director)
Lu Ming (Independent Non-Executive Director)
Sun Zhili (Independent Non-Executive Director)
Wu Yushan (Independent Non-Executive Director)
Company Secretary Au Wing Sze
Jiang Yuxiao
Principal Bankers Industrial and Commercial Bank
Solicitors Commerce & Finance Law Offices
Commerce & Finance Law Offices LLP
Siam Premier International Law Office Limited
KJ Tan & Co
Davis Polk & Wardwell
Auditors PricewaterhouseCoopers
Registered Office 31/F, Tower Two, Times Square, 1 Matheson Street, Causeway Bay, Hong Kong
Share Registrars Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628]
Share Registrars Tel No (852) 2862-8628
Internet Address http://www.shzhida.com
Email Address
Tel No
Fax No
 
SITEMAP
Email: support@aastocks.com
AASTOCKS.COM LIMITED (阿斯達克網絡信息有限公司) All rights reserved.
Disclaimer
You expressly agree that the use of this app/website is at your sole risk.

AASTOCKS.com Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co. Ltd, Nasdaq, Inc., their respective holding companies and/or any subsidiaries of such holding companies, their Sources and/or other third party data provider(s) endeavour to ensure the accuracy and reliability of the Information provided but do not guarantee its accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.

Neither AASTOCKS.com Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co.Ltd., Nasdaq, Inc. nor their respective holding companies and/or any subsidiaries of such holding companies nor their Sources and/or other third party data provider(s) make any express or implied offers, representations or warranties (including, without limitation, any warranty or merchantability or fitness for a particular purpose or use) regarding the Information.

Neither AASTOCKS.com Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co. Ltd., Nasdaq, Inc. nor their respective holding companies and/or any subsidiaries of such holding companies nor their Sources and/or other third party data provider(s) will be liable to any Subscriber or any other party for any interruption, inaccuracy, error, or omission, regardless of cause, in the Information or for any damages (whether direct or indirect, consequential, punitive, or exemplary) resulting from its use by any party.

AASTOCKS.com Limited shall not be liable for any failure or delay in performance of its obligations under this Disclaimer because of circumstances beyond its reasonable control, including but without limitation, acts of God, typhoons, rainstorms, other natural disasters, government restrictions, strikes, wars, virus outbreak, network failures or telecommunications failures.

Morningstar Disclaimer: Copyright © 2020 Morningstar, Inc. All Rights Reserved. The information, data, analyses and opinions ("Information") contained herein: (1) include the proprietary information of Morningstar and Morningstar’s third party licensors; (2) may not be copied or redistributed except as specifically authorised; (3) do not constitute investment advice; (4) are provided solely for informational purposes; and (5) are not warranted to be complete, accurate or timely. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use. Please verify all of the Information before using it and don’t make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

The information and contents contained in this app/website are based on the analyses and interpretations of publicly available information obtained from sources believed to be reliable. Such analyses and information have not been independently verified and AASTOCKS.com Limited makes no guarantees to their accuracy, completeness, timeliness or correctness.

The information, financial market data, quotes, charts, statistics, exchange rate, news, research, analysis, buy and sell ratings, Education Center and other information on this app/website should be used as references only at your own discretion. Prior to the execution of a security or any other trade based upon the Information, you are advised to consult independent professional advice to verify pricing information or to obtain more detailed market information. AASTOCKS.com Limited is not soliciting any subscriber or app/website visitor to execute any trade. Any trades executed following the said information, commentaries and/or buy/sell ratings on this app/website are taken at your own risk for your own account.

AASTOCKS.com Limited provides the information and services on an "AS IS" basis. The information and contents on this app/website are subject to change without notice. AASTOCKS.com Limited reserves the right, in its sole discretion but without any obligation, to make improvements to, or correct any error or omissions in any portion of this app/website at any time.

The subscriber or app/website visitor agrees not to reproduce, retransmit, disseminate, distribute, broadcast, publish, circulate, sell or commercially exploit the information and contents on this app/website in any manner without the express written consent of AASTOCKS.com Limited.

Investment involves risk. You may make use of the Education Center of this website for academic reference purposes at your own discretion. AASTOCKS.com Limited cannot and does not give any assurance that the present or future buy/sell commentaries and signals on this app/website will be profitable. AASTOCKS.com Limited cannot guarantee, and the subscriber or app/website visitor should not assume, that the future performance will equal past performance.

AASTOCKS.com Limited may point to other sites that may be of interest to the subscriber or app/website visitor but for which AASTOCKS.com Limited has no responsibility and only provides this as a service to the subscriber or app/website visitor.

AASTOCKS.com Limited does not represent or endorse the accuracy or reliability of any information, advertisements or contents contained on, distributed through, or linked, downloaded or accessed from any of the services on this app/website. AASTOCKS.com Limited cannot and does not guarantee the quality or reliability of any products or information purchased or obtained by you as a result of an advertisement or any other information displayed on this app/website.

AATV is a video platform owned by AASTOCKS.com Limited.

You acknowledge that: (i) AATV is provided for information purposes only and, in particular, is not intended for trading purposes; (ii) AATV does not and none of the information contained in its program constitutes a solicitation, offer, opinion, or recommendation by us to buy or sell any security, or to provide legal, tax, accounting, or investment advice or services whether or not regarding the profitability or suitability of any security or investment; and (iii) AATV is not intended for use by, or distribution to, any person or entity in any jurisdiction or country where such use or distribution would be contrary to law or regulation.

The financial analysis or opinion expressed in the AATV programs is for reference and discussion only, and does not represent AASTOCKS.com Limited. Investors must make their own investment decisions based on their own investment objectives and financial situation. AASTOCKS.com Limited shall not, directly or indirectly, be liable, in any way, to you or any other person for any: (i) inaccuracies or errors in or omissions from AATV including, but not limited to, quotes and financial data; (ii) delays, errors, or interruptions in the transmission or delivery of AATV; or (iii) loss or damage arising therefrom or occasioned thereby, or by any reason of nonperformance.

AASTOCKS.com Limited reserves the right to change this Disclaimer at any time by posting changes online at this app/website. You are responsible for reviewing regularly information posted therein to obtain timely notice of such changes. Your continued use of this app / website after changes are posted constitutes your acceptance of this Agreement as modified by the posted changes.

The disclaimer herein shall be governed by the law of the Hong Kong Special Administrative Region of the People's Republic of China ("Hong Kong") and you agree to submit to the exclusive jurisdiction of the Hong Kong courts.

In the event of any discrepancy between the Chinese and English versions, the English version shall prevail.

Last updated on 6 January 2023.