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WUXI, China - LOBO EV Technologies Ltd. (NASDAQ: LOBO), a prominent electric vehicle company specializing in two-wheelers, tricycles, and off-highway carts, revealed its financial results for the fiscal year ending December 31, 2024. With a current market capitalization of $5.57 million and trading at $0.65 per share, InvestingPro analysis suggests the stock is currently undervalued. Despite a shift from net income to a net loss, the company reported a significant revenue increase and strategic international expansion.
Financially, LOBO’s revenue rose to $21.2 million, up 36.9% from the previous year. The gross profit also saw an increase of 11.2%, reaching $2.5 million, though InvestingPro data reveals a concerning gross profit margin of 12.27%. The company experienced a net loss of approximately $845,841, a downturn from the $986,471 net income reported in 2023. This loss is attributed to expansion costs and the transition to public company status. The company’s total assets grew by 22.0% to $24.0 million, and shareholders’ equity jumped by 64.9% to $9.3 million. (Get access to 18 additional ProTips and comprehensive financial metrics with InvestingPro.)
Huajian Xu, CEO of LOBO, acknowledged the transformational period, citing product portfolio expansion and international distribution network growth. He emphasized the company’s commitment to innovation and operational excellence, despite the profitability pressures.
LOBO’s business highlights include launching new e-bicycle, e-moped, e-tricycle, and electric cart models, significantly increasing R&D investments, and extending its international dealer network to over 50 dealers across various regions, including Latin America and Africa.
For the fiscal year 2025, LOBO aims to launch AI-powered EV models, enhance operational controls, deepen market penetration through strategic partnerships, and continue investing in R&D to maintain technological leadership in the electric mobility sector.
This information is based on a press release statement from LOBO EV Technologies Ltd. The forward-looking statements within the release are subject to risks and uncertainties, as per the U.S. Private Securities Litigation Reform Act of 1995, and actual results may differ from these projections.
In other recent news, LOBO EV Technologies Ltd. has secured a significant $1.6 million supply agreement with a Ukrainian firm, involving the delivery of 5,500 electric vehicles, including 4,000 electric bicycles and 1,500 XIAODOU model three-wheeled electric vehicles. This contract, finalized on March 1, 2025, marks a strategic move for LOBO to expand its presence in the Eastern European market. Additionally, LOBO EV Technologies is advancing its diversification strategy in the medical technology sector through a partnership with Roundtree Lab, LLC. Together, they are working towards achieving HIPAA compliance for their smart medical beds, which will enhance patient care and ensure data security in U.S. healthcare facilities. The compliance process will align the technology with stringent U.S. healthcare standards, facilitating quicker adoption in hospitals. LOBO’s CEO, Huajian Xu, highlighted the importance of adhering to these regulations to introduce smart medical solutions to the market. As the HIPAA certification progresses, LOBO and Roundtree are preparing for the commercial launch and wider adoption of the smart medical beds in the United States.
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