Electric scooter maker Vmoto says it posted an unaudited profit of $201,000 for the month of November and now has 10 stores in China.
The company is still expecting to post a maiden annual profit of $300,000-$600,000 for the year to the end of December 31.
"The gradual build up in sales month on month are testament to the Vmoto brand becoming increasingly recognised as a premium product for electric scooter riders in China," the company said.
"So far, December trading for existing and recently opened stores is in line with management expectations."
Vmoto said by the end of November, it had sold 3197 units of its own models through its eight retail stores.
The company said it had also opened a further two retail stores in December in Kunshan City and Lishui District, Nanjing, taking its total retail stores to ten.
Further store locations would continue to be assessed in Nanjing and Shanghai.
The company said it would provide a more detailed operational review and outlook by the end of January.
Vmoto shares were up 0.3 cents, or 10 per cent, to 3.3 cents at 8.25am.