Yadea isn’t a household name for many readers, yet its scale and influence are significant. The company reports that it has sold more than 100M electric two-wheel vehicles globally, operates multiple factories across China and overseas, and exports to numerous countries. Its growth reflects the wider adoption of electric mobility across Asia, fast, practical and closely tied to everyday transportation needs.

With the first half of 2025 completed, Yadea’s results illustrate the company’s continued role in the global shift toward light electric vehicles.

A Company Built on Scale and Speed

Yadea began as a small motorcycle-parts business in the late 1990s before shifting to electric two-wheelers in 2004. This transition aligned the company with China’s growing demand for low-emission mobility, and Yadea expanded production capacity accordingly. Over time, it established large manufacturing bases across cities such as Wuxi, Tianjin, Qingyuan and Cixi, later adding overseas assembly operations as well. This network has enabled Yadea to produce large volumes of vehicles with consistent quality and controlled costs.

The company now designs and manufactures electric scooters, mopeds, e-bikes, motors, batteries, chargers and key components, maintaining significant vertical integration. Its investments in R&D and accumulation of patents have supported ongoing product updates and technological improvements.

These factors have contributed to Yadea becoming one of the world’s largest electric two-wheeler manufacturers.

H1 2025 Financial Performance

Yadea’s interim results show a strong first half of 2025, driven by recovering demand, new products and increased marketing investment.

• Revenue reached an estimated $2.67B, up 33.1% versus the first half of 2024.
• Sales volume climbed to 8.79M electric scooters and bicycles, a 37.8% increase year-on-year.
• Gross margin improved from 18.0% to 19.6%, helped by a more balanced product mix and the company’s ability to hold price premiums on new models.
• Net profit rose sharply to around $229M, up 59.5% from the same period in 2024.

On the cash side, Yadea finished June with roughly $1.09B in cash and cash equivalents, almost unchanged from year-end 2024, despite ramping up investments in manufacturing capacity and treasury products.

Taken together, H1 2025 results show higher revenue, improved margins and increased sales volumes compared with 2024, a period when industry demand in China and Yadea’s own volumes were lower. The first half of 2025 reflects the impact of recovering demand and changes in the company’s product mix and pricing.

Product Breakdown

Electric bicycles were the core of Yadea’s business in the first half of 2025, accounting for nearly half of revenue:

• Electric bicycles: $1.29B
• Electric scooters: $0.53B
• Batteries & chargers: $0.79B
• Vehicle parts: $0.05B

The mix reflects how e-bikes have become the dominant form of personal mobility in many Chinese and Southeast Asian cities, especially for short-distance commuting and delivery work. Scooters and batteries remain meaningful contributors, together forming just under half of total revenue, underscoring how Yadea increasingly sells not just vehicles but the energy and components that power them.

Segment-Wise Breakdown

Yadea reports two operating segments:

• Electric two-wheelers & related accessories
• Batteries & electric drive systems

For H1 2025, segment revenue (before internal eliminations) translated to roughly:

• Electric two-wheelers & accessories: $2.59B
• Batteries & electric drive: $0.52B
  

After eliminating internal sales between the segments, this reconciles to the $2.67B consolidated revenue figure.

While the core vehicle business remains the primary driver, the batteries and electric-drive segment is beginning to matter more, as Yadea expands its component offerings and energy-related products. That's an important context if we think of Yadea not just as a vehicle OEM, but as part of the wider electric-mobility infrastructure stack.

Cash Flows, Balance Sheet and Treasury

Operating activities shifted from a cash outflow of approximately $96.77M in H1 2024 to an inflow of approximately $656.53M in H1 2025, reflecting higher revenue and changes in working capital.

Investing outflows increased, driven by capex and a larger allocation to short-term financial products.

The company’s holdings of low-risk wealth-management products and structured deposits more than doubled year-on-year, reaching approximately $736.17M by June.

Yadea increased its use of short-term borrowings and supplier credit, resulting in a net-current-liability position at mid-year and a higher gearing ratio compared with the end of 2024. The company continued to maintain a large cash balance while allocating more funds into treasury instruments.

Funding and Recent Developments

Yadea has not raised major new external financing in recent years, but it continues to reinvest heavily in manufacturing capacity, overseas expansion, and new technology. The company’s 2022 placement of new shares, raising roughly $101.1M, was directed toward overseas R&D, manufacturing, and distribution build-out. As of mid-2025, most of that capital has already been deployed into these initiatives.

On the treasury side, the move into wealth-management products and structured deposits is part of a broader strategy to eke out higher returns on surplus cash while keeping maturities short and risk relatively low. The company’s interim report also notes that each individual investment is small relative to total assets, suggesting a diversified, low-concentration approach.

Operationally, Yadea has leaned into brand-building. At the end of 2024, it named actor Dylan Wang as its new global ambassador, a move that helped the brand resonate more strongly with younger consumers, especially in China.

Product Launches

A major driver of Yadea’s momentum in early 2025 was its updated product portfolio.

The standout introduction was the Modern series, a trio of e-bikes, GuangMang, ZhuiGuang and Laiyin, developed specifically with female riders in mind. The series blends retro, “light-luxury” styling with what Yadea calls “10-fold safety protection”, combining a women-specific frame design with layered battery, electronic and stability safeguards.

Alongside this, Yadea expanded its long-range Guanneng line with models such as the T35, a wide-body commuter scooter aimed at riders who want both range and a more assertive, “mecha-inspired” look. Together, these launches show how Yadea is shifting toward lifestyle-oriented vehicles tailored to specific rider groups, rather than pushing broad, one-size-fits-all designs.

According to the company, these products were well-received and quickly became top sellers, making notable contributions to overall sales growth and brand influence in H1.

A Look at the Road Ahead

Yadea’s first-half results highlight a company that understands its home market deeply and is adapting quickly as consumer expectations change. With new product lines performing well, stronger margins and higher sales volumes, it looks better positioned for the rest of 2025 than it did a year ago.That said, the story is still heavily China-driven: more than 90% of revenue and long-lived assets remain in the domestic market, even as Yadea steps up exports and overseas production.

Although still relatively unknown to Western audiences, Yadea is one of the companies shaping how millions of people move each day.

Cover Image Credits: Yadea