Lei Jianping on December 23
Lobo EV Technologies, hereinafter referred to as "Lobo EV Technologies" has recently passed the IPO filing of the China Securities Regulatory Commission.
In March 2023, Luobei Electric Vehicle submitted a prospectus to the SEC in the United States, preparing to be listed on the NASDAQ in the United States, ** for Lobo, and after that, Luobei Electric Vehicle also updated the prospectus 5 times.
The Lobe electric car is planned to be issued 16250,000 shares at $4 each, raising $6.5 million.
Revenue in the first half of the year was $8.14 million and net profit was $670,000
According to reports, Luobei Electric Vehicle is an electric vehicle manufacturer and seller located in Wuxi, Jiangsu Province, the company designs, develops, manufactures and sells electric bicycles, electric mopeds, electric tricycles and electric off-road four-wheel shuttles, such as golf carts and scooters for the elderly and disabled.
According to the prospectus, the revenue of Luobei Electric Vehicle in 2020 and 2021 will be 14.13 million US dollars and 18.3 million US dollars respectivelyOperating profit was US$2.24 million and US$1.52 million, respectivelyNet profit was US$1.66 million and US$1.12 million respectively.
The sales and marketing expenses of Luobei electric vehicles in 2022 are 58$580,000, $690,000 in administrative expenses, and $22.2 in R&D expenses$760,000, compared with only $5 in R&D expenses in the same period last year$30,000.
Luobei Electric Vehicle's revenue in the first half of 2023 was $8.14 million, compared to $5.49 million in the same period last yearOperating profit was $0.44 million, compared to $240,000 in the year-ago quarterNet income was $670,000, compared to a net profit of 13$60,000.
In the first half of 2023, the sales and marketing expenses of Luobei electric vehicles will be 32580,000 yuan, management expenses of 28$40,000, R&D expenses of $1320,000 US dollars, compared to only 2$850,000.
Insufficient R&D efforts
Before the IPO, Huajian Xu held 5788%, Jiancong Cai and Huiyan Xie hold 10% of the shares respectively.
Huajian Xu is the founder and CEO of the company, and Jiancong Cai is the COO of the company.
After the IPO, Huajian Xu held 4616%, Jiancong Cai and Huiyan Xie hold 798%。
The lack of R&D efforts for electric vehicles will have a great impact on long-term competitiveness. Moreover, the volume of the Luobei electric vehicle is very limited, and even if it is listed, it may not have enough attention in the United States.
Lei Di was founded by ** Lei Jianping, if ** please in**.