Zhejiang Taotao Vehicles Revenue Jumps 52.07% to 4,216,723,286.74 Yuan in 9 Months

Key Facts

Zhejiang Taotao Vehicles reported revenue of 4,216,723,286.74 yuan for January to September 2026, up 52.07% from the same period in 2025, according to the company’s quarterly report published by CFi. Profit attributable to the company’s shareholders was 810,693,862.16 yuan, up 33.66% year on year. The report attributed revenue growth mainly to increased sales of electric mobility products. Third-quarter results alone showed slower profit growth than the nine-month performance. The third-quarter financial report is unaudited.

In the third quarter, which ran from July to September 2026, revenue was 1,465,826,573.33 yuan, up 38.35% from the same period a year earlier. Over the same period, profit attributable to shareholders rose 2.22% to 270,198,931.57 yuan. The divergence between revenue and profit growth highlights a widening gap between the pace of sales increases and earnings growth during the quarter. For the nine months, profit attributable to shareholders was 810,693,862.16 yuan, up 33.66%. Basic earnings per share were 7.43 yuan, up 33.15%, while diluted earnings per share were 7.42 yuan.

Excluding non-recurring items, profit attributable to shareholders was 796,574,024.81 yuan in the first nine months, up 32.35% year on year. But this adjusted measure fell 0.87% in the third quarter to 260,774,840.27 yuan. The adjusted profit trend, which differed from its growth over the extended period, provides another indication of a slowdown in earnings performance in the final three months of the period. Adjusted nine-month profit remained above its level in the comparable period, while the third quarter posted a slight year-on-year decline. The report did not give a separate explanation for the quarterly decline in profit after exclusions.

Revenue costs rose 54.87% in the nine months, while selling expenses increased 44.16% year on year. The report said higher advertising and promotion, rent and storage expenses were among the reasons for the increase in selling expenses. Financial expenses also shifted from net income of 6,115,741.78 yuan in the comparable period to expenses of 129,012,487.95 yuan. The report attributed the shift mainly to increased foreign exchange losses. These items grew alongside revenue, while increases in revenue costs and selling expenses outpaced revenue growth of 52.07%.

By contrast, net cash generated from operating activities rose 70.48% to 1,043,446,144.45 yuan in the first nine months of 2026. Net operating cash flow in the comparable period of 2025 was 612,050,996.06 yuan. The report attributed the increase mainly to higher cash collected from sales of goods and provision of services. Operating cash flow growth exceeded the increase in revenue over the same period. This adds a cash-flow dimension to the results, alongside growth in profit and revenue and the pressures recorded in financial expenses and revenue costs.

Regarding its Hong Kong listing plans, the company said the Hong Kong Stock Exchange’s Listing Committee held a hearing on its application to issue and list H shares on September 3, 2026. The report said the company published post-hearing materials after the hearing. The development comes alongside the release of its nine-month and third-quarter results. The report did not specify a date for the next listing step. The published third-quarter financial results remain unaudited, according to the company’s disclosure.