Shanghai Zhida Technology Development, an electric vehicle charging pile maker backed by BYD (HKG:1211, SHE:002594), has passed its Hong Kong listing hearing, The Standard reported Sept. 26.

Founded in 2010, Zhida holds 13.6% of the Chinese market and 9% globally by sales volume, with cumulative shipments of 1.3 million charging piles, according to the report.

Despite its scale, the company has consistently reported losses, citing pressure from automakers that has driven down average selling prices, it added.

Zhida reportedly said it plans to expand globally, launch new products, and optimize its customer base while managing costs to move toward profitability.

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