DAHON, a leading global folding bike manufacturer, is entering a new chapter, this time with a public market twist. The company’s tech subsidiary, DAHON TECH, officially listed on the Hong Kong Stock Exchange today, marking a major milestone for the 40-year-old folding bike pioneer.
It is exceedingly rare for bicycle companies to reach the point of an IPO, which among other things, helps give us more insight into the inner workings and financial standing of major manufacturers of two-wheelers. Of course, from the company’s perspective, a public offering is a great chance to raise additional funding.
In this case though, it appears to be about even more than that. At the bell-ringing ceremony, DAHON founder and chairman Dr. David Hon emphasized that the listing isn’t just about capital, but about fueling innovation and expanding the company’s reach. “We will leverage this listing as an opportunity to seize trends, deepen our presence in the Chinese and international markets, and deliver sustainable returns to our investors,” he told the audience.
Investors certainly seem to agree. DAHON’s IPO was oversubscribed by more than 7,500 times, described as one of the hottest “super subscription” listings in Hong Kong this year. Heavy hitters like Allianz Global Investors and the Greater Bay Area Development Fund lined up as cornerstone investors, pouring nearly $128 million into the company.
That kind of enthusiasm is backed by solid numbers. In 2024, DAHON sold over 229,000 folding bikes, a 46% jump from the year before, pulling in around 450 million RMB in revenue (US $63 million) with profits topping 52 million RMB (US $7.2 million. The momentum has continued into 2025, with revenue up 69% year-over-year in the first four months alone.
A big part of the company’s value appears to come from its obsession over innovation versus replication. Dahon boasts over 135 active patents, long definining the technology in folding bikes. Its latest “DAHON-V” tech suite aims to improve performance across categories, even allowing some of its fastest folding bikes to rival carbon road bikes. The company has also begun licensing its innovations to other brands, spreading its influence across the industry.
Looking forward, DAHON is expanding beyond its bread-and-butter folders. The company has already added road bikes and is now making moves into electric bicycles and even light electric motorbikes, pairing its folding expertise with electrification to target a new wave of green mobility.
Production is also ramping up. A new Tianjin factory is already online, while another large facility is set to open in 2027 with capacity for 200,000 additional units per year. The brand’s distribution footprint now spans 680 retail outlets in China and 28 countries abroad, with e-commerce sales growing at triple-digit rates.
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