Pinecone Wisdom Inc. HKEX IPO Application Lapsed Upon Expiry; Leading Shared E-Bike Service Provider in China
NewTimeSpace News: The Hong Kong listing application submitted by Pinecone Wisdom Inc. to HKEX on 2 January 2026 has lapsed after six months, and Huatai International acted as the original sole sponsor.
The Company is a leading shared e-bike service supplier in China. Per China Insights Consultancy data, based on 2024 transaction volume and deployed e-bike stock as at 31 December 2024, it is the largest shared e-bike operator covering peripheral developing regions nationwide and ranks fourth in China’s entire market.
As at 30 September 2025, the Company has deployed 454,627 shared e-bikes across 422 cities and counties nationwide. Its total registered user base rose from 99 million as at 31 December 2023 to 113 million as at 31 December 2024, and further climbed to 128.3 million as at 30 September 2025.
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