PR97637

HONG KONG, Sept. 1, 2022 /PRNewswire=KYODO JBN/ --

Yadea Group Holdings (01585:HK), a leading player in the electric scooter

industry, announced its first-half results for 2022 on August 26. Group revenue

expanded 13.5% year on year to reach 14.051 billion yuan (US$ 2.04 billion).

Net profit attributable to the parent company also rose 52.6% year on year to

hit 900 million yuan (US$ 130 million) as Yadea maintained a strong leading

position in the industry.

The company attributed the growth to continuous investments in R&D that are

driving industrial changes through scientific and technological breakthroughs.

Yadea's H1/2022 R&D investment increased 49% year on year. The scooter giant

currently operates two China National Accreditation Service laboratories, six

R&D centers, and one national industrial design center, with more than 1,000

R&D staff employed and over 1,350 patents registered to date.

The company's key scientific and technological breakthroughs included Yadea's

first TTFAR graphene-based battery technology. Featuring 36 core patents, the

power cell has reached its fourth generation following rapid iteration.

Corresponding cumulative sales exceeded 45 million units.

Another landmark advancement was the company's TTFAR carbon fiber 2.0 lithium

battery, an industry first and the largest-capacity lithium battery since the

introduction of new national standards for power cells. Sales of Yadea graphene

and lithium products for car models and other new energy technology products

have grown considerably to comprise 55% of total sales.

Yadea's products are now available in 100 countries and regions around the

world, with the company's export volume for electric vehicles expanding 104%

year on year in the first half, cementing the company's position as the world's

largest two-wheeled electric vehicle brand. The company continues to expand

internationally in response to overseas demand for products and launched full

product range in Spain this June. The firm runs some 12,000 locations globally,

racking up more than 60 million users. The company is to continue accelerating

its globalization strategy by establishing overseas R&D centers, factories, and

distribution networks while considering mergers and acquisitions.

Yadea benefited significantly from its optimized and expanded product structure

in the first half of 2022, leveraging cutting-edge technology to create

differentiated high-end products. Yadea remained staunchly committed to

user-centric cutting-edge technology amid global economic uncertainty and

fluctuations. Yadea's formidable capabilities in technological prowess and

product strength will help the brand maintain high-quality growth going forward.

SOURCE  Yadea