Yadea profit falls amid market headwinds; special dividend declared

Yadea Group Holdings (HKEX: 1585) reported a 51.8% decrease in profit attributable to owners of the company for the year ended December 31, 2024, with profit dropping to RMB 1,272.4 million. Revenue decreased by 18.8% to RMB 28,236.2 million, reflecting challenges from evolving national standards for electric two-wheeled vehicles and shifting market sentiment after a fire incident in Nanjing. Sales volume of electric scooters and bicycles fell to approximately 13.0 million units, compared to 16.5 million units in 2023.