Compass RV IPO countdown: founder's bet with investors

China has over 200,000 registered camper vans but only 3,000 official campsites. Nine national government bodies led by the Ministry of Commerce have introduced measures to develop infrastructure: local authorities must optimize road management rules for non-standard vehicles and mandate dedicated RV spaces in new or renovated urban parking lots. Pilot cities like Yangzhou in Jiangsu Province are converting idle plots into RV havens with water, electricity, and service centers. RV sales in 2025 jumped 24.5% year-on-year, surpassing 20,000 units, making China Asia’s largest market.

Rongcheng Kangpaisi New Energy Vehicle Co., Ltd. has upgraded its caravan manufacturing by adopting digital technologies on the COSMOPlat industrial internet platform. Previously, assembling a single travel trailer with nearly 3,000 parts took 35 days, and custom orders required manual coordination. The new system automates the entire production chain, reducing lead times and increasing flexibility.

On July 27, 2026, a motorhome caught fire at an intersection in Laiguangying, Beijing, due to an electrical fault. Firefighters arrived within 14 minutes and extinguished the flames in 4 minutes; no casualties were reported. Citing the growing popularity of motorhome travel, the fire department issued electrical fire prevention guidelines: ban on unauthorized electrical modifications, regular battery checks, and mandatory fire extinguishers and smoke alarms.

On July 27, a cultural tourism seminar was held at the Li'an Haigui Town conference center in Lingshui County, Hainan. Ding Hongbo, founder of Lucheng Wang, said the area's climate and resources are suitable for long-term winter motorhome stays. The island's ring road features RV stops and campsites.

China is experiencing a surge in demand for electric motorhomes and campers, driven by domestic tourism and a 16% increase in tourism revenue in 2025. According to Bloomberg and Chinese media, orders for new-energy vehicles are growing 10 times faster year-on-year, and the camping market reached nearly 250 billion yuan in 2025, up from 113.5 billion yuan in 2022. Electric motorhomes offer camping and sleep modes, allow use of appliances and 4K projectors, and maintain stable interior temperatures for pet travel. 53% of travelers are millennials born in the 1990s. The country has over 21 million charging stations, enabling such trips.

Anshun (Guizhou province) is seeing a rise in RV parking spots, attracting tourists from across China. From May to July 2023, one lot recorded over 100 vehicles, with some guests staying up to five months.