LOBO EV TECHNOLOGIES LTD. Ordinary shares - $LOBO STOCK NEWS

LOBO EV Technologies (Nasdaq: LOBO) reported an increase in net profit margin to 6.4% in 2023 from 6.1% in 2022. The company generated $15.5 million in revenue, down from $18.3 million in 2022, with operating expenses decreasing to $1.4 million. LOBO's international expansion and innovative product launches set the stage for growth in 2024, fueled by the success of its IPO. The company's focus on operational efficiency, inventory management, and production improvements led to improved profitability metrics. LOBO is strategically expanding in ASEAN countries, Eastern Europe, and Latin America to capitalize on increasing demand for electric mobility, unveiling new solar energy e-trikes, golf carts, and ATV/UVT models. The company also introduced a new delivery e-bike series tailored for the food and goods delivery sector. By leveraging its flexible production capacity and forging strategic partnerships, LOBO is well-positioned for long-term success in the growing electric mobility market.

LOBO EV Technologies announced the opening of a new manufacturing facility in Wuxi, China, doubling its production capacity in the region. The facility aims to support an annual production value exceeding $27 million, focusing on two-wheeled electric vehicles. The expansion, funded by a recent successful IPO, signifies LOBO's commitment to meeting the increasing global demand for electric vehicles.

LOBO EV Technologies received strong interest in its solar-powered EVs at the 135th Canton Fair, securing $1.2 million in new orders and discussing a strategic cooperation agreement with a Cambodian customer for potential sales of over 10,000 vehicles annually.

LOBO EV Technologies announces participation in the 135th China Import and Export Fair to showcase its latest solar energy series and delivery e-bike series. The Company aims to address the growing demand for sustainable transportation solutions in the global market.

LOBO EV Technologies receives support from Xinwu District government in Jiangsu Province, including assistance with securing factory spaces, land resources, talent acquisition, and tax incentives. The support was announced during a gala dinner celebrating LOBO's successful Nasdaq IPO, highlighting the Company's role in the global electric mobility revolution.

LOBO EV Technologies announces a strategic collaboration with Serbian distributor CSM2017 Doo to enter the growing European e-bicycle market. The partnership aims to tap into the expanding electric vehicle sector in Eastern Europe, starting with the CSM-01 e-bicycle model. With revenue generation expected in Q2 2024, the collaboration signifies a significant step towards global expansion for LOBO EV.

RedChip Companies will feature interviews with LOBO EV Technologies and Biotricity, Inc. on the RedChip Small Stocks, Big Money™ show on Bloomberg TV. LOBO EV, a Chinese EV manufacturer, offers a range of electric vehicles and software services, poised for growth in the $16 billion e-bike market. Biotricity, a leader in remote cardiac care, targets a $35 billion market with its innovative technology and strong market presence.

LOBO EV Technologies announced the closing of its IPO, offering 1,380,000 shares at $4.00 per share, raising approximately $5.5 million. The underwriters have an option to purchase an additional 207,000 shares. The shares started trading on Nasdaq under the ticker symbol 'LOBO'. Kingswood acted as the sole bookrunner for the offering.

LOBO EV Technologies announces the pricing of its initial public offering of 1,380,000 ordinary shares at $4.00 per share, expecting gross proceeds of approximately $5.5 million. The company also grants underwriters an option to purchase additional shares. Shares will trade on Nasdaq under the ticker symbol 'LOBO.'