绿源集团控股(2451.HK):两轮车稳健发展 LYVA搭建新增长曲线

华西证券
Oct 16, 2025

国内政策催化行业变革,海外开拓构造行业新增长点。中国电动两轮车市场呈现“销量稳步增长、高保有量支撑稳定替代需求”的特征。2019年以来,电动两轮车销量在波动中持续上升,2019—2024年CAGR达6.32%,2024年受消费需求不振及产业链整顿影响,销量同比下降9.09%。在新国标推动产品换代叠加以旧换新等促消费政策的刺激下,销量有望重回增长轨道,据艾瑞咨询测算2025年销量将达约5200万辆。...

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