Good News on Listing | Frost & Sullivan Assists Sailis Group Co., Ltd. to Successfully List on the Hong Kong Stock Exchange (9927.HK)

Sailis Group Co., Ltd. (hereinafter referred to as 'Sailis') successfully went public on November 5, 2025. The company plans to issue 100.2 million shares globally, of which 90% will be allocated internationally and 10% publicly offered in Hong Kong. The issue price per share is HK$131.50, raising a net amount of approximately HK$1.1 billion.

During the process of listing in Hong Kong, Frost & Sullivan mainly undertook the following tasks: helping the issuer accurately and objectively understand its positioning in the target market, using objective market data to discover, support, and highlight the issuer's competitive advantages, assisting the issuer, investment banks, and other intermediaries in completing the relevant parts of the prospectus (such as the overview, competitive advantages and strategy, industry overview, business, and other important sections), helping the issuer communicate with the Hong Kong Stock Exchange and investors, assisting investors in quickly understanding the market ecosystem and competitive landscape, and assisting the issuer in completing feedback on various industry-related issues from the Hong Kong Stock Exchange.

Frost & Sullivan has always been a leader in helping companies go public in Hong Kong. According to LiveReport's big data (statistical data as of September 30, 2025), from January to September 2025, as well as during the past 12 and 36 months, Frost & Sullivan provided listing industry advisory services to 47 (market share 72%), 62 (market share 69%), and 162 (market share 70%) Hong Kong-listed IPOs respectively, ranking first in terms of number. It has a wealth of industry experience and communication skills with regulatory authorities, exchanges, investment and financing institutions, and various related institutions.

• The company's launch of the WENJIE M5 set a new record for the fastest delivery volume of new brand bicycles in the year of its listing, exceeding 10,000 units;

   

• The company has launched the WENJIE M7, becoming the best-selling self-owned brand model in the 300,000 RMB segment in the Chinese market, with deliveries of approximately 200,000 units in 2024;

   

• The launch of the WENJIE M9 has become the champion in terms of sales volume for models priced at 500,000 yuan in the Chinese market, with deliveries exceeding 150,000 units in 2024;

   

• In the second half of 2024, Envision Brand topped the new energy vehicle review list with a net promoter score (NPS) of 82%. In 2024, Envision Brand's total annual deliveries reached 387,100 units, a year-on-year increase of 268%.

According to a report by Frost & Sullivan:

• In 2024, the WENJIE M7 ranked first in sales volume among all high-end autonomous Chinese new energy passenger vehicle brands;

   

• In 2024, in terms of sales volume, WENJIE ranked fifth in the new energy passenger vehicle market in China;

   

• In 2024, in terms of sales volume, WENJIE ranked third in the Chinese high-end new energy passenger vehicle market;

   

• In 2024, in terms of sales volume, three out of the top five models in the Chinese high-end new energy passenger vehicle market are independent brands, including the WENJIE M7 and WENJIE M9, which rank second and fourth respectively.

Driven by the continuous improvement of new energy passenger vehicle technology and performance, policy support from various countries and regions around the world, and the growing environmental awareness of consumers, the global new energy passenger vehicle market has achieved rapid development. Global new energy passenger vehicle sales soared from 6.2 million units in 2021 to 17.1 million units in 2024, with a compound annual growth rate of 40.2% during this period. The penetration rate of new energy passenger vehicles in the global passenger vehicle market increased from 9.7% in 2021 to 23.0% in 2024. Looking ahead, with the continuous enhancement of new energy passenger vehicle competitiveness, it is expected that by 2030, global new energy passenger vehicle sales will reach 42.3 million units, with a compound annual growth rate of 16.3% from 2024 to 2030, and the penetration rate is expected to rise to 47.0%.

Looking at the sales of new energy passenger vehicles in different regions, China has ranked first in the world for ten consecutive years. In 2024, China's sales of new energy passenger vehicles reached 11.1 million units, accounting for 64.7% of the global market for new energy passenger vehicles. By 2030, China's sales of new energy passenger vehicles are expected to reach 19.1 million units, with a compound annual growth rate of 9.5% from 2024 to 2030, accounting for 45.1% of the global market. In 2024, the sales of new energy passenger vehicles in Europe, North America, and Asia (excluding China) were 2.9 million units, 1.6 million units, and 300,000 units respectively, accounting for 16.8%, 9.4%, and 1.8% of the global market for new energy passenger vehicles. By 2030, the sales of new energy passenger vehicles in these regions are expected to reach 10.1 million units, 7.1 million units, and 3.3 million units respectively, accounting for 23.9%, 16.8%, and 7.8% of the global market for new energy passenger vehicles.

Looking at the penetration rate of new energy passenger vehicles in different regions, development is not balanced due to differences in factors such as energy prices and the maturity of charging infrastructure. By 2024, the penetration rate of new energy passenger vehicles in China's passenger vehicle market reached 48.9%, significantly higher than the global average of 23.0%. However, in regions other than China, the penetration rate of new energy passenger vehicles in 2024 was 11.8%, with the highest in Europe at 19.8%, followed by North America at 9.0%, the Middle East and North Africa at 8.7%, and South America at only 2.8%. There is still significant room for growth in sales volume across different regions in the future. China, Europe, and North America will continue to be regions with a high proportion of new energy vehicle sales. By 2030, the penetration rates of new energy passenger vehicles in China, Europe, and North America are expected to reach 76.9%, 61.2%, and 34.4% respectively.

Source: Frost & Sullivan report

The sales volume of new energy passenger vehicles in China increased from 3 million units in 2021 to 11.1 million units in 2024, with a compound annual growth rate of 54.7% from 2021 to 2024. In 2024, the penetration rate of new energy passenger vehicles in the passenger vehicle market was 48.9%. With continuous policy support from the Chinese government and increasing consumer demand, by 2030, the sales volume of new energy passenger vehicles is expected to reach 19.1 million units, with a compound annual growth rate of 9.5% from 2024 to 2030. By 2030, the penetration rate of new energy passenger vehicles in the passenger vehicle market is expected to rise to 76.9%. At the same time, by 2030, the proportion of fuel-powered passenger vehicles in the passenger vehicle market will decline to 23.1%, with new energy passenger vehicles taking a dominant position in the overall structure of the passenger vehicle market.

Looking at the market share of different power types of new energy passenger vehicles, pure electric vehicles currently dominate. In 2024, the sales volume of pure electric vehicles reached 6.3 million units, accounting for 56.7% of the new energy passenger vehicle market. The market shares of plug-in hybrid vehicles and extended-range electric vehicles are 32.0% and 11.3%, respectively. However, extended-range electric vehicles effectively solve the problem of range anxiety and have received increasing attention and recognition from consumers, promising to become an important driving force for the growth of China's new energy passenger vehicle market. By 2030, the sales volume of extended-range electric vehicles is expected to reach 3.1 million units, accounting for 16.4% of the market. At the same time, pure electric vehicles will still be the main growth segment of China's new energy passenger vehicle market, with sales expected to reach 9.1 million units by 2030, accounting for 47.8% of the new energy passenger vehicle market.

Source: Frost & Sullivan report

According to price segmentation, the new energy passenger vehicle market in China can be divided into high-end and non-high-end models. In the overall high-end passenger vehicle market, the penetration rate of new energy models is continuously increasing. As consumers' demand for electrification, high-tech configurations, and intelligent experiences grows, more high-end brands are accelerating the deployment of their new energy vehicle models. High-end new energy vehicles are gradually seizing market share from traditional luxury fuel vehicles.

According to Frost & Sullivan's data, in 2024, the sales volume of high-end new energy passenger vehicles in China reached 2.6 million units, accounting for 23.4% of the total new energy passenger vehicle market in China. Driven by rising resident income and consumption upgrading, the high-end new energy passenger vehicle market in China is expected to maintain stable growth. It is estimated that by 2030, the sales volume will reach 5.7 million units, with a market share of 29.8%. From 2024 to 2030, the market is expected to grow at a compound annual rate of 14.0%.

Source: Frost & Sullivan report

●Intelligently reshaping consumers' car-buying preferences

The gradual popularization of intelligent vehicle functions has become a consensus among Chinese and global consumers. By 2024, the penetration rate of L2 and above autonomous driving vehicles in China's new energy passenger vehicle market has exceeded 60%. Intelligence has become a key decision-making factor for consumers when purchasing cars, and they are willing to pay higher prices for advanced features. According to the 'Automobile Intelligence Development Report (2024)' released by the China Electric Vehicle 100 Club, 90% of consumers are willing to pay extra for advanced assisted driving services, with 30% willing to pay over RMB10,000.

As consumers' demand for automotive safety, convenience, and intelligence continues to rise, the industry is moving towards advanced assisted driving fields with higher technical requirements and more complex application scenarios, such as urban NOA (Autonomous Navigation with Automatic Driving). Traditional automotive brands are relatively lagging behind in the development of assisted driving, but China's advanced assisted driving solutions have become one of the main choices for the international market. With its technological advantages, China's advanced assisted driving solutions are expected to lead the global automotive intelligence revolution.

● Artificial intelligence brings unprecedented opportunities to automotive intelligence

Artificial intelligence is driving the iterative upgrade of automotive intelligence. The development of large AI models has expanded from language models to the field of assisted driving. With continuous progress in sensors, algorithms, and data processing capabilities, the deep integration of multimodal large models with end-to-end assisted driving has become the latest technological trend. The combination of 'AI + 5G' has facilitated breakthroughs in vehicle-road-cloud integration, integrating information from vehicles, roadside devices, and the cloud, significantly improving the safety, stability, and reliability of assisted driving, and accelerating the iterative pace of automotive intelligence technology.

● Cross-industry integration spawns new business models and product forms

Under the technological roadmap of software-defined vehicles, the automotive industry is showing two major integration trends. On one hand, there is a deep integration of technology and products, with software technology achieving end-to-end organic integration with traditional automotive technologies, endowing vehicles with stronger intelligence and connectivity functions. On the other hand, there is cross-industry integration. Enterprises across the entire automotive industry chain, including vehicle manufacturers, ICT companies, supply chain businesses, and end-user service providers, achieve resource sharing through close cooperation, giving rise to new business models and product forms, driving the automotive industry towards intelligentization, connectivity, and sharing, and injecting continuous innovation vitality into the industry's development.

● China's auto export sales will continue to grow

The Chinese automotive industry has surpassed Japan for two consecutive years (2023 and 2024), becoming the country with the largest global automotive exports. In 2024, China's new energy passenger vehicle exports reached 1.2 million units, accounting for 20.5% of the global sales of new energy passenger vehicles excluding China, enhancing the global status of Chinese new energy vehicle brands. In 2024, China's new energy passenger vehicle exports mainly went to Europe, Asia (excluding China), South America, and North America. By 2030, China's new energy passenger vehicle exports are expected to further grow to 3.9 million units, with a compound annual growth rate of 21.7% from 2024 to 2030. With the increase in new energy passenger vehicle exports, Chinese new energy vehicle brands are deepening integration into overseas markets through strategies such as joint ventures and local manufacturing. This includes enhancing brand value, R&D systems, supply chains, and sales service networks to strengthen the construction of overseas market industrial chains. These efforts will become key drivers for future growth in China's new energy passenger vehicle exports.

● China's new energy passenger vehicle brands with independent intellectual property rights will continue to grow rapidly

Driven by technological innovation, product diversification, and rapid iteration, Chinese new energy passenger vehicle independent brands are experiencing rapid growth. In 2024, the sales volume of new energy passenger vehicles in China reached 11.1 million units, of which independent brands sold 9.4 million units, accounting for 88.7% of the market. In 2024, among the top 5 models in terms of sales volume of new energy passenger vehicles in China, 4 were independent brands, demonstrating strong market influence. Looking ahead, Chinese new energy passenger vehicle independent brands are expected to continue their rapid growth and reshape the competitive landscape of the automotive market.