Yadea Reports First Half 2022 Financial Results: Total Revenue Amounted to RMB14.051 billion
HONG KONG, Sept. 1, 2022 /PRNewswire/ -- 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.
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