Pinecone Wisdom Inc. Submits Hong Kong Stock Exchange Listing Application, Positioning Itself as the Largest Shared E-Scooter Service Provider in China's Peripheral Development Regions
Pinecone Wisdom Inc. officially submitted its application for a main board listing on the Hong Kong Stock Exchange on January 2, 2026, with Huatai International serving as the joint sponsor for the offering. Since its establishment in 2017, the company has continuously expanded its shared electric scooter service network, aiming to become a key solution for urban short-distance travel and "last-mile" connectivity.
According to a report by CIC, based on the transaction volume in 2024 and the number of shared electric scooters deployed as of December 31, 2024, Pinecone Wisdom Inc. ranked first in China's peripheral development regions and fourth in the overall Chinese shared electric scooter market. As of September 30, 2025, the company had deployed approximately 454,627 shared electric scooters across 422 cities and counties nationwide, with a registered user base reaching 128.3 million. This continued growth in user scale reflects the company's strong market coverage and user penetration capabilities.
The company enhances vehicle utilization efficiency and user experience through intelligent dispatch systems and refined operations. In 2021, it established a smart manufacturing facility in Hefei, Anhui, enabling in-house research and development, design, and production of shared electric scooters. In 2023, the company actively promoted the concept of green mobility by entering into a strategic partnership with the Beijing Green Exchange, supporting national "dual-carbon" goals. In 2024, the company set up an AI R&D center, and its registered user base surpassed the 100 million mark.
