LOBO EV Technologies Ltd., a leading provider of electric two-wheelers, tricycles, and off-highway carts, has announced its audited financial results for fiscal year 2024, showcasing significant growth and strategic expansion in global mobile marketing markets.

The company reported a 36.9% increase in revenue to $21.2 million, with gross profit rising 11.2% to $2.5 million. Despite posting a net loss of $(845,841), LOBO demonstrated strong asset growth of 22% to $24.0 million and improved shareholders' equity by 64.9% to $9.3 million.

Key Operational Highlights

LOBO's expansion plans include:

  • Over 50 international dealers across ASEAN, Latin America, Eastern Europe, Middle Asia, and North America
  • Introduction of new electric vehicles, including e-bicycles, e-mopeds, e-tricycles, and off-highway carts
  • A 500% increase in R&D investments to drive innovation

2026 Strategy

The company's strategy for the upcoming year focuses on:

  • Launching AI-powered EV models to strengthen its mobility portfolio
  • Enhancing operational controls and regulatory compliance with U.S. standards
  • Further penetrating international markets, particularly in Latin America, Africa, and Southeast Asia through strategic dealer partnerships and market-specific product launches

CEO Commentary

Huajian Xu, CEO of LOBO, commented, "Fiscal year 2024 was a transformational year for LOBO EV Technologies. We strategically expanded our product portfolio and distribution networks internationally... We remain committed to driving innovation, enhancing operational excellence, and delivering sustainable value creation for our shareholders."

Business Highlights

LOBO's business highlights include:

  • Product Innovation: Introduced hundreds of new e-bicycles, e-mopeds, e-tricycles, and off-highway electric carts to meet evolving consumer preferences
  • Dealer Network Expansion: Established a presence in key emerging markets, including Brazil, Peru, Ukraine, Lithuania, Serbia, Kazakhstan, Tanzania, and Nigeria

Outlook for Fiscal Year 2026

LOBO plans to:

  • Launch innovative AI-powered EV models
  • Strengthen operational controls and regulatory compliance with U.S. GAAP and SEC standards
  • Continue investing in R&D to sustain technological leadership across the global electric mobility sector

About LOBO EV Technologies Ltd.

LOBO EV Technologies Ltd. (Nasdaq: LOBO) is an innovative designer, developer, manufacturer, and seller of e-bicycles, e-mopeds, e-tricycles, and electric off-highway four-wheeled shuttles. By leveraging cutting-edge AI, connectivity, and automation, LOBO aims to provide intelligent, efficient, and secure mobility and healthcare solutions.

For more information, visit: https://www.loboebike.com and https://loboev.io.

Safe Harbor Statement

This press release contains forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on the Company's current expectations and assumptions and are subject to risks and uncertainties. Actual results may differ from those anticipated in these forward-looking statements.