YADEA (01585) has risen more than 4% again. As of writing, the stock was up 3.92%, trading at HK$13.27, with a turnover of HK$229 million.

The company recently released its 2025 annual results, reporting revenue of RMB 37.008 billion, a year-on-year increase of approximately 31.1%. Profit attributable to shareholders reached RMB 2.912 billion, up 128.8% compared to the previous year. A final dividend of 53 HK cents per share has been proposed.

The revenue growth was primarily driven by increased sales volume due to favorable market sentiment and government policy stimulus, continuous optimization of the product portfolio, and positive effects from increased investment in R&D, marketing, and brand-building initiatives. Total sales of electric scooters and electric bicycles rose from approximately 13 million units in 2024 to about 16.3 million units in 2025.

Guotai Haitong Securities noted that in overseas markets, high oil prices are accelerating the adoption of electric two-wheelers, and the company's export sales are expected to achieve strong growth in 2026. In the domestic market, with the launch of new flagship products and enhanced brand promotion since March, terminal sales are projected to gradually improve.

Additionally, influenced by multiple factors such as rising raw material costs, the expiration of factory rebate policies, and the conclusion of promotional activities, major domestic electric two-wheel vehicle brands plan to increase prices for certain models starting next month. YADEA is expected to leverage its advantages in centralized procurement and raw material inventory, resulting in a price increase significantly lower than the industry average.